In 2019,the Best Diamond Company Purchased Mineral Rights for a Diamond

question 125

Essay

In 2019,the Best Diamond Company purchased mineral rights for a diamond mine (industrial grade diamonds)by signing a promissory note for $7,000,000.In addition to the purchase price,Best paid cash of $100,000 for a geological survey and $20,000 for a license fee to the country where the mine is located.It is estimated that there will be no residual value when the mine is fully depleted and that the mine contains 1,000,000 carats of diamonds.
During the first year of mining,Best Diamond extracted 50,000 carats of diamonds which were not sold after they were extracted.In 2020,the company extracted 250,000 carats of diamonds and sold 200,000 carats of diamonds from its inventory.
Required:
Prepare the journal entry without explanations to:
1.Record the purchase of the diamond mineral rights.
2.Record depletion for 2019.

Recognize the role of booster sessions in advancing training outcomes.

Differentiate between near and far transfer of training.

Identify the barriers to training transfer and strategies for overcoming them.

Comprehend the impact of the work environment on training transfer.

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Definitions:

Laughter

A bodily reaction, often spontaneous, consisting of rhythmical, often audible contractions of the diaphragm and other parts of the respiratory system.

Sadness

A natural emotional response to experiences of loss, disappointment, or other upsetting circumstances.

Fear

An emotional response to perceived threats or danger, triggering physiological changes geared towards avoidance or defense.

Disgust

A strong feeling of aversion or profound disapproval.