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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

#SPJ1

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What is a diversionary incentive?
Vinvika [58]

Answer:E- A temptation to start a crisis to create public support at home

Explanation: A diversionary incentive is a term used to describe the various attempts of a foreign country to create crisis in a given country in order to gain support at home.

Diversionary incentive is usually implemented by certain countries for their own selfish gains,they want their own Citizens to focus their minds and interests in crisis outside their own Country,hence lossing focus of the problems bedeviling their own country.

5 0
3 years ago
In a planned economy, prices of commodities are controlled by _________.
AnnZ [28]
<h3>Answer:</h3>

C. The government

<h3>Explanation:</h3>

Vocabulary

First, it is important to define the key terms in the question and answers.

  • Planned Economy- A planned economy is an economy where the investments and capital are allocated by the government.
  • Commodities - Commodities are economic goods that have real value due to their real-life usefulness (like lumber) or rarity (like gold).

How Planned Economies Work

As its name suggests, a planned economy plans the economy out and the price of goods within the markets. These plans are created by the government. This means that private businesses, consumers, and supply/demand do not control prices. Only the government can do that because the government has full control of planned economies. This is the reason that planned economies are also called command economies because the economy is commanded by the government.

5 0
2 years ago
In economics, what is meant by "optimal decisions are made at the margin?" The concept of the margin was initially developed in
Ivahew [28]

Answer:

The idea of the margin is related to making decisions while thinking about the benefits and costs of small changes in behavior.

Explanation:

Economic theory suggests that economic agents (firms, consumers and government) think on the sidelines. This means that decisions are made taking into consideration the benefits and costs of each choice. For example, for a firm to increase a unit of production (marginal unit) it will calculate the cost of production of that unit (marginal cost) and the profit that additional unit will generate (marginal benefit).

7 0
3 years ago
You used to earn $76,000 a year in your old job! Suppose you return to college and earn an MBA, after which you get an upper-man
fredd [130]

Answer:

Federal social insurance taxes include OASDI taxes (Social Security) and Medicare taxes. Currently. In 2012, the Social Security tax limit was $110,100, while their was no limit on Medicare.

The Social Security tax rate was temporarily reduced during 2011 and 2012 from 6.2% to 4.2%, so your Social Security tax withholdings were $4,624.20 in 2012.

Medicare taxes did not change in 2012 and were 1.45%, so your Medicare tax withholding were $1,812.50 in 2012.  

8 0
3 years ago
A residence was assessed annual county property taxes of $5,000. The residence was occupied by a life tenant who lived on the pr
zlopas [31]

Answer: Yes, because the life tenant owes the holder of a remainder interest a duty to pay the property taxes.

Explanation:

Based on the information given, the holder of the remainder interest can recover the tax payment from the life tenant because the life tenant owes the holder of a remainder interest a duty to pay the property taxes.

It should be noted that it's the obligation of life tenants to pay all ordinary taxes on the land as well as the interest on the mortgage. In a situation whereby an incime isn't produced by the property like in the scenario given in the question, then the life tenant will be responsible for the taxes and the interest on the mortgage to the extent of a reasonable rental value of the land.

4 0
3 years ago
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