If a coal deposit has 700,000 tons available and was purchased for $1,750,000, record the removal of 50,000 tons in year 1 and 70,000 tons in year 2

What will be an ideal response?

Answer:
Year 1
Depletion Expense—Coal Deposit 125,000
Accumulated Depletion, Coal Deposit 125,000

Year 2
Depletion Expense—Coal Deposit 175,000
Accumulated Depletion, Coal Deposit 175,000

Business

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If the vision is _________, it communicates and inspires pride in being different from other organizations.

A) rare B) valuable C) referent D) unique

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The management of Wallpaper International Limited is concerned about losses that have been occurring as result of theft and other acts of dishonesty committed by employees

To protect itself against this type or risk, which of the following types of insurance should the management be advised to get? A) Professional liability insurance B) Business interruption insurance C) Fidelity insurance D) Credit insurance E) None of the above

Business