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45. In January of 2025, Yager Corporation purchased a mineral mine for $5,100,000 with removable ore estimated by geological surveys at 2,000,000 tons. The property has an estimated value of $300,000 after the ore has been extracted. The company incurred $1,500,000 of development costs preparing the mine for production. In 2025, 600,000 tons were removed, and 480,000 tons were sold. What amount of depletion should Yager expense for 2025?

Bonus 53. What might a manager do during the last quarter of a fiscal year if they wanted to improve current annual net income?

Which of the following best describes how to perform the Thompson test?

50. During the current fiscal year, Keenum Corp. signed a long-term noncancellable purchase commitment with its primary supplier. Keenum agreed to purchase $2.62 million of raw materials during the next fiscal year under this contract. At the end of the current fiscal year, the raw material to be purchased under this contract had a market value of $3.90 million. What is the journal entry at the end of the current fiscal year? a: Estimated Liability on Purchase Commitment            Gain on Purchase Commitment 1,280,000   1,280,000 b: Loss on Purchase Commitment             Estimated Liability on Purchase Commitment 1,340,000   1,340,000 c: Loss on Purchase Commitment             Estimated Liability on Purchase Commitment 1,280,000   1,280,000 d: No journal entry is required    

7. The underlying theme of the conceptual framework is

32. Suppose your company constructed a new building. Construction began on April 1, 2026 with an expenditure of $500,000; then $600,000 on August 31, 2026; and finally $200,000 on November 30, 2026, at which time the building was completed. What is the capitalization period for the April 1, 2026 expenditure?

38. Posner Co. is a retail store operating in a state with a 7% retail sales tax. The retailer may keep 2% of the sales tax collected. Posner Co. records the sales tax in the Sales Revenue account. The amount recorded in the Sales Revenue account during May was $754,350. The amount of sales taxes (to the nearest dollar) for May is

49. On January 3, 2024, Salazar Co. purchased machinery. The machinery has an estimated useful life of eight years and an estimated salvage value of $120,000. The depreciation applicable to this machinery was $260,000 for 2026, computed by the sum-of-the-years’-digits method. The acquisition cost of the machinery was

6. When a patent is amortized, the credit is usually made to

Music that is characterized by a steady pulse, clear tonality and with insistent repetition of short melodic patterns that tend to stay consistent for long periods of time, creating a hypnotic effect is called ____________