A company pays $790,400 cash to acquire an iron mine on January 1. At that same time, it incurs additional costs of $62,400 cash to access the mine, which is estimated to hold 104,000 tons of iron. The estimated value of the land after the iron is removed is $20,800. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. 1. Prepare the January 1 entry to record the cost of the iron mine. 2. Prepare the December 31 year-end adjusting entry if 21,200 tons of iron are mined but only 18,800 tons are sold this first year. View transaction list

Required information [The following information applies to the questions displayed below.] Precision Construction entered into the following transactions during a recent year. January 2 Purchased a bulldozer for $282,000 by paying $36,000 cash and signing a $246,000 note due in five years. January 3 Replaced the steel tracks on the bulldozer at a cost of $36,000, purchased on account. The new steel tracks increase the bulldozer's operating efficiency. January 30 Wrote a check for the amount owed on account for the work completed on January 3. February 1 Repaired the leather seat on the bulldozer and wrote a check for the full $2,400 cost. March 1 Paid $13,200 cash for the rights to use computer software for a two-year period. Required: 1-a. Complete the table below, for the above transactions. (Enter any decreases to Assets, Liabilities, or Stockholders' Equity with a minus sign.) Date                     Assets         =       Liabilities    +   Stockholders' Equity January 02…

A company acquires a zinc mine at a cost of $750,000 on January 1. At that same time, it incurs additional costs of $100,000 to access the mine, which is estimated to hold 200,000 tons of zinc. The estimated value of the land after the zinc is removed is $50,000. 1. Prepare the January 1 entry(ies) to record the cost of the zinc mine. 2. Prepare the December 31 year-end adjusting entry if 50,000 tons of zinc are mined, but only 40,000 tons are sold the first year.

Subject - account  Please help me.  Thankyou.

can you please show work/math xomputations for how to arrive to each answer

How to calculate the Amortization Expense?

please solve correct and complete with working thanks      On January 2, 2021, Archer Company, a skateboard manufacturer, installed a computerized machin$158,000. The machine's useful life was estimated at four years or a total of 187,500 units with a $Company's year-end is December 31.Calculate depreciation for each year of the machine's estimated useful life under each of the follaintermediate calculations.)a. Straight-lineb. Double-declining-balancec. Units-of-production, assuming actual units produced were:YearUnitsYear2021202220232024Total202138,700202241,750202353,000202460,000Straight-Line Double-Declining-BalanceUnits-of-Production

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please answer within 30 minutes.

Metlock, Inc., spent $48,600 in attorney fees while developing the trade name of its new product, the Mean Bean Machine. Prepare the journal entries to record the $48,600 expenditure and the first year's amortization, using an 6-year life. Use the account title "Trade Names". (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Account Titles and Explanation Debit Credit (To record expenditure of trade names) (To record amortization expense)