During 2020, Concord Corporation acquired a mineral mine for $3700000 of which $395000 was ascribed to land value after the mineral has been removed. Geological surveys have indicated that 10 million units of the mineral could be extracted. During 2020, 1520000 units were extracted and 1300000 units were sold. What is the amount of depletion expense for 2020

In 2015, lori assigned a paid-up whole life insurance policy to an irrevocable life insurance trust (ilit) for the benefit of her three children. the ilit contained a crummey provision for the benefit of each child. at the time of the transfer, the whole life insurance policy was valued at $200,000, and since lori had not made any other taxable gifts during her lifetime, she did not owe any gift tax. lori died in 2016, and the face value of the whole life insurance policy of $2,000,000 was paid to the ilit. regarding this transfer, how much is included in lori’s gross estate at her death?

Dr. sperry, a biologist, is using excel to track growth rates of different populations of bacteria. she has a very complex formula in one cell. it begins with “round”. dr. sperry would like to see exactly how excel’s calculation reached the final rounded value that she sees in the cell. what could dr. sperry do to best understand how the calculation was made? try different formulas on her own until she reaches the value shown in excel click on the evaluate formula button in the formulas tab and then click “step in” select the cell and then look at the formula in the formula field of the ribbon remove “round” from the formula in order to see the actual value before rounding

Goldman services hired a new clerk to keep custody of and maintain all the equipment in the equipment yard. the clerk has not yet been adequately trained on the maintenance needs of the equipment. which internal control procedure needs strengthening?