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10-11-12 pls help asap 10. Jackson Storm acquired a copper mine at a total cost of $3,000,000. The mine is expected to produce 6,000,000 tons

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10. Jackson Storm acquired a copper mine at a total cost of $3,000,000. The mine is expected to produce 6,000,000 tons of copper over its ten-year useful life. During the first year of operations, 750,000 tons of copper was extracted. Depletion for the first year should be a. $375,000 b. $600,000 C. $1,500,000 d. None of the above 11. Which of the following statements is correct? a. Internally generated intangible assets are generally recorded at cost. b. Intangible assets are generally classified as current assets. c. Intangible assets derive their value from the rights and privileges granted to the company using them. d. Intangible assets possess physical substance, 12. Radiator Springs' 12/31/21 balance sheet reports assets of $7,000,000 and liabilities of $2,800,000. All of Radiator Springs' assets' book values approximate their fair value, except for land, which has a fair value that is $420,000 greater than its book value. On 12/31/21, Thomas Land Inc. paid $7,140,000 to acquire Radiator Spring. What amount of goodwill should Thomas Land Inc. record as a result of this purchase? a $0. b. $140,000 c. $2,520,000 d $2,940,000

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