Mgmt_200_Spring_2008_Homework_7_solution(3,31) - NAME: _...

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NAME: ___________________________ PUID _________________ Please write your name in BLOCK letters and in the format: Last name, First name. Management 200 – Introductory Financial Accounting– Spring 2008 Krannert School of Management - Purdue University Homework 7 – due Friday, March 28, 2008 - SOLUTION IMPORTANT: This homework must be turned in on this sheet of pages (please staple). It is preferred that you print it out two-sided if at all possible. Assignments not completed on this form will not be graded. The grade for this assignment will be based on the correctness of a partial portion of the assignment – the full assignment will not be graded. Please print your name and PUID clearly and legibly in the spaces above. PART A: On January 1, 2007 Jackson Mines acquired the rights to a seam of coal for $1,320,000 cash and spent an additional $480,000 clearing topsoil and constructing mine shafts. In addition, Jackson Mines is required to restore the land at the end of the mine’s life (estimated to be 20 years) at an estimated cost of $839,000. Under current accounting rules Jackson Mines is required to add the present value of the restoration
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This note was uploaded on 11/22/2009 for the course MGMT 200 taught by Professor Greigg during the Spring '08 term at Purdue University-West Lafayette.

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Mgmt_200_Spring_2008_Homework_7_solution(3,31) - NAME: _...

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