Your Client Hazelton Mining Recently Entered Into An Agreement

For this collaborative roundtable, the course leader places you in a group at the beginning of the course. You create a thread in response to the command prompt provided for each forum. Each thread must have at least 500 words and have course knowledge. You must support your assertions with at least 2 quotes that are not manuals; The Bible may be one of these sources. The composition must be attached as a verbal document in a new forum thread. Place the chapter and the request in line with your subject, as in “Chapter 1 case 1-1.” In addition to the thread, the student will respond to at least one classmate`s thread. The answer must be at least 250 words. Quotes from the responses are not necessary, but they are encouraged. Everything must be in the current APA format.

Some common practices consider the pension obligation to be a potential liability and apply FASB`s Statement No. 5, contingency accounting, to determine when a liability should be recognized. The purpose of assessing this statement is fair value that is not consistent with a reporting approach.5 A fair value assessment takes into account uncertainties as to the amount and timing of the debt payment, while the recognition decision, as defined in Statement 5, is based on the degree of uncertainty. Your client, Hazelton Mining, recently reached an agreement to obtain the rights to operate a coal mine in West Virginia for $15 million. Hazelton`s development costs amounted to $6 million when the mine was prepared for operation, which began on July 1, 2016. The contract requires Hazelton to return the country and its surroundings to its original state after the aid is completed in three years. The company`s controller, Alice Cushing, is not sure how she should take into account the costs of restoration and asked you for advice. Alice is aware of an accounting standard that deals with this issue, but she is not sure of its provisions. It has reduced the possible cash outflows for restoration costs to four possibilities: mineralization in the cronine mine is operated by an Ag-Pb-Zn-Au-Veines polymetallic storage work. The mineralization of sulphides is carried out in quartz plants, quartz fillings in case of error or along fractures in the form of sockets up to 40 m long and 6 meters wide inside the main error system or as a propagation in the environment.

There is a clear shingle of minerals inside the sockets; Galena, boulangerit and tetrahdrite are concentrated near the break plan, sphalrite spreading into modified and brecciated wall-rock.

1552total visits,4visits today


Related posts