In april 2013, sparkle enterprises purchased the crimson mine at a cost of $18,000,000. the mine is estimated to contain 500,000 tons of ore with a residual value of $2,000,000 after mining operations are completed. during 2013, 120,000 tons of ore were removed from the mine and sold. in this situation:

a. the book value of the mine is $16,000,000 at the end of 2013.
b. the amount of depletion deducted from revenue during 2013 is $3,840,000.
c. the amount of depletion deducted from revenue during 2013 is $2,000,000.
d. the mine is classified as an intangible asset with in indefinite life and is not amortized.

Afinancing project has an initial cash inflow of $42,000 and cash flows of −$15,600, −$22,200, and −$18,000 for years 1 to 3, respectively. the required rate of return is 13 percent. what is the internal rate of return? should the project be accepted?

The following items could appear on a bank reconciliation: a. outstanding checks, $670. b. deposits in transit, $1,500. c. nsf check from customer, no. 548, for $175. d. bank collection of note receivable of $800, and interest of $80. e. interest earned on bank balance, $20. f. service charge, $10. g. the business credited cash for $200. the correct amount was $2,000. h. the bank incorrectly decreased the business's by $350 for a check written by another business. classify each item as (1) an addition to the book balance, (2) a subtraction from the book balance, (3) an addition to the bank balance, or (4) a subtraction from the bank balance.

Cash flows during the first year of operations for the harman-kardon consulting company were as follows: cash collected from customers, $360,000; cash paid for rent, $44,000; cash paid to employees for services rendered during the year, $124,000; cash paid for utilities, $54,000.in addition, you determine that customers owed the company $64,000 at the end of the year and no bad debts were anticipated. also, the company owed the gas and electric company $2,400 at year-end, and the rent payment was for a two-year period. calculate accrual net income for the year.