Salter Mining Company purchased the Northern Tier Mine for $91 million cash. The mine was estimated to contain 1.88 million tons of ore and to have a residual value of $6.4 million. During the first year of mining operations at the Northern Tier Mine, 60,000 tons of ore were mined, of which 16,000 tons were sold. Prepare a journal entry to record depletion during the year.

Anderson, a computer engineer, and spouse, who is unemployed, provide more than half of the support for their child, age 23, who is a full-time student and who earns $7,000. they also provide more than half of the support for their older child, age 33, who earns $2,000 during the year. how many dependents may the andersons claim on their joint tax return?

To be able to better compare stock performance within the same industry, similar companies are grouped into? a)market sectors b) industry blocks c) performance sectors d) average earning blocks

The treasurer for pittsburgh iron works wishes to use financial futures to hedge her interest rate exposure. she will sell five treasury futures contracts at $139,000 per contract. it is july and the contracts must be closed out in december of this year. long-term interest rates are currently 7.30 percent. if they increase to 9.50 percent, assume the value of the contracts will go down by 20 percent. also if interest rates do increase by 2.2 percent, assume the firm will have additional interest expense on its business loans and other commitments of $149,000. this expense, of course, will be separate from the futures contracts. a. what will be the profit or loss on the futures contract if interest rates increase to 9.50 percent by december when the contract is closed out