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(Answered) Uranium Mining Company, founded in 1982 to mine and market


Uranium Mining Company, founded in 1982 to mine and market
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Uranium Mining Company, founded in 1982 to mine and market unranium, purchased a mine in 1983 for $900 million. It estimated that the uranium had a market value of $150 per ounce. By 2012, the market value had increased to $300 per ounce. Records for 2012 indicate the following:,

 

?Production 200,000 ounces,

 

?Sales 230,000 ounces,

 

?Deliveries 190,000 ounces,

 

?Cash collection 210,000 ounces,

 

?Cost of production including depletion* $50,000,000,

 

?Selling expense $ 2,000,000,

 

?Administrative expenses $ 1,250,000,

 

?Tax rate 50%,

 

,

 

*- Production cost per ounce has remianed constant over the last few years, and the company has maintained the same production level.,

 

,

 

Compute the income for 2012, using the receipt of cash,

 

,

 

Answer: ,

 

,

 

,

 

,

 

Question 5,

 

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Question text,

 

,

 

,

 

Uranium Mining Company, founded in 1982 to mine and market unranium, purchased a mine in 1983 for $900 million. It estimated that the uranium had a market value of $150 per ounce. By 2012, the market value had increased to $300 per ounce. Records for 2012 indicate the following:,

 

?Production 200,000 ounces,

 

?Sales 230,000 ounces,

 

?Deliveries 190,000 ounces,

 

?Cash collection 210,000 ounces,

 

?Cost of production including depletion* $50,000,000,

 

?Selling expense $ 2,000,000,

 

?Administrative expenses $ 1,250,000,

 

?Tax rate 50%,

 

,

 

*- Production cost per ounce has remianed constant over the last few years, and the company has maintained the same production level.,

 

,

 

Compute the income for 2012, using the point of sale,

 

,

 

Answer: ,

 

,

 

,

 

,

 

Question 6,

 

,

 

Not yet answered,

 

,

 

Marked out of 1.00,

 

,

 

Flag question,

 

,

 

,

 

,

 

Question text,

 

,

 

,

 

Uranium Mining Company, founded in 1982 to mine and market unranium, purchased a mine in 1983 for $900 million. It estimated that the uranium had a market value of $150 per ounce. By 2012, the market value had increased to $300 per ounce. Records for 2012 indicate the following:,

 

?Production 200,000 ounces,

 

?Sales 230,000 ounces,

 

?Deliveries 190,000 ounces,

 

?Cash collection 210,000 ounces,

 

?Cost of production including depletion* $50,000,000,

 

?Selling expense $ 2,000,000,

 

?Administrative expenses $ 1,250,000,

 

?Tax rate 50%,

 

,

 

*- Production cost per ounce has remianed constant over the last few years, and the company has maintained the same production level.,

 

,

 

Compute the income for 2012, using the end of production,

 

,

 

Answer: ,

 

,

 

,

 

,

 

Question 7,

 

,

 

Not yet answered,

 

,

 

Marked out of 1.00,

 

,

 

Flag question,

 

,

 

,

 

,

 

Question text,

 

,

 

,

 

Uranium Mining Company, founded in 1982 to mine and market unranium, purchased a mine in 1983 for $900 million. It estimated that the uranium had a market value of $150 per ounce. By 2012, the market value had increased to $300 per ounce. Records for 2012 indicate the following:,

 

?Production 200,000 ounces,

 

?Sales 230,000 ounces,

 

?Deliveries 190,000 ounces,

 

?Cash collection 210,000 ounces,

 

?Cost of production including depletion* $50,000,000,

 

?Selling expense $ 2,000,000,

 

?Administrative expenses $ 1,250,000,

 

?Tax rate 50%,

 

,

 

*- Production cost per ounce has remianed constant over the last few years, and the company has maintained the same production level.,

 

,

 

Compute the income for 2012, based on delivery,

 

,

 

Answer:

 


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