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MaRussiya [10]
1 year ago
9

A company purchased a delivery van for $28,400 with a salvage value of $3,900 on september 1, year 1. it has an estimated useful

life of 5 years. using the straight-line method, how much depreciation expense should the company recognize on december 31, year 1
Business
1 answer:
Lunna [17]1 year ago
8 0

The deprecation expense in year 1 is $1225.

<h3>What is the depreciation expense in year 1?</h3>

Depreciation is a method that is used to expense the carrying value of an asset. Straight line depreciation is a depreciation method that allocates the deprecation expense evenly across the useful life of the asset.  

Straight line depreciation expense is a function of the useful life of the asset, the cost of the asset and the salvage value of the asset.

Straight line depreciation expense = (number of months from Sept to Dec / number of months in a year) x (Cost of asset - Salvage value) / useful life

(3/12) x [(28,400 - 3900) / 5]

1/4 x (24,500/5) = $1225

To learn more about straight line depreciation, please check: brainly.com/question/6982430

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One of the huge benefits of just-in-time production is that the need for "time" is eliminated.

<h3>What is just-in-time production?</h3>

With just-in-time (JIT) manufacturing, products are produced as needed, rather than in excess or ahead of schedule.

Some characteristics of just-in-time are-

  • With just-in-time (JIT) manufacturing, products are produced as needed, rather than just-in-time (JIT) inventory system is a management strategy that aligns raw-material orders from suppliers directly with production schedules in excess or ahead of schedule.
  • Because Toyota, a vehicle manufacturer, introduced just-in-time manufacturing in the 1970s, the practise is often referred to as the Toyota Production System (TPS).
  • To prevent work-in-process overcapacity, JIT is frequently used in conjunction with the scheduling technique known as kanban.
  • The JIT production method depends on consistent output, excellent craftsmanship, no equipment failures, and trustworthy suppliers for its success.
  • The JIT system is also known as short-cycle manufacturing (as used by Motorola) and continuous-flow manufacturing (as used by IBM).

To know more about just-in-time inventory management, here

brainly.com/question/8842151

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4 0
2 years ago
You have just taken out an installment loan for $100,000. Assume that the loan will be repaid in 12 equal monthly installments o
Rama09 [41]

Answer:

$7,757.16

Explanation:

rate of interest = 2%

Rate(12, 9456-100000)

Rate(nper,pmt,pv)

APR = 24.00%

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Principal for third monthly payment = PPMT(2%,3,12,-100000)

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7 0
3 years ago
Koehn Corporation accounts for its investment in the ordinary shares of Sells Company under the equity method. Koehn Corporation
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Answer:

A) a reduction of the carrying value of the investment

Explanation:

Under the equity method, the investor company cannot record dividends as revenue, it must record them as a reduction of the carrying value of their investment. Under the equity method, the value of the investment decreases with cash dividends. This transaction involves only a change between assets, investment decreases while cash increases, no additional revenue is recorded.

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3 years ago
A car and a computer are examples of what?
Naya [18.7K]
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Explanation; Secondary needs are generally psychological, such as the need for nurturing, independence, and achievement. While these needs might not be fundamental for basic survival, they are essential for psychological well-being.
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3 years ago
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Swifty Corporation reported net income of $203000 for the year. During the year, accounts receivable increased by $15000, accoun
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Answer:

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