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Pachacha [2.7K]
1 year ago
6

The truck was the only asset purchased during the year. Which of the following statements is correct regarding the depreciation

that can be taken on the truck?
Business
1 answer:
quester [9]1 year ago
4 0

The following statements is correct regarding the depreciation that can be taken on the truck is the business will deduct one-half of a full year's depreciation on the truck in the current year.

Depreciation is the system of deducting the fee of a enterprise asset over a protracted length of time, in place of over the direction of 1 year. There are 4 principal techniques of depreciation: immediately line, double declining, sum of the years' digits and gadgets of production.

An enterprise is described as an enterprise or enterprising entity engaged in commercial, industrial, or expert activities. Businesses may be for-earnings entities or non-earnings organizations. Business sorts variety from restrained legal responsibility groups to sole proprietorships, corporations, and partnerships.

Learn more about Depreciation here:

brainly.com/question/29524602

#SPJ4

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Which of the following would be most likely to lead to increases in nominal interest rates?
olasank [31]

Answer:

c. A new technology such as the Internet has just been introduced, and it increases investment opportunities.

Explanation:

Nominal interest rate is the sum of real interest rate and expected inflation rate.

If expected inflation rate falls, the nominal interest rate also falls.

During a recession, people are more unwilling to borrow funds ,this pushes interest rate down.

If investment opportunities increases, the demand for funds would increase and nominal interest rate would increase too.

I hope my answer helps you

8 0
3 years ago
Which 3 transactions in QuickBooks Online are reflected in the Accounts Payable Aging Detail report?
Wewaii [24]

Answer:

a. Bill

c. Vendor Credits

d. Bill Payments

Explanation:

QuickBooks Online is an accounting software that has millions of users most of whom are medium and small time businesses. It is very useful in ensuring that the needs of even novices in accounting are taken care of.

In the Accounts Payable Aging detail report, QuickBooks online includes Bills which gives a list of vendors purchased from. It includes Vendor credits which shows the vendors owed and the payment terms of the debt and Bill payments which show the history of payments both owed and already made to certain vendors.

6 0
3 years ago
How do u uplaod a video on a eportfolio
stellarik [79]
Doesn't it have an upload button
4 0
3 years ago
Read 2 more answers
On January 1, 2016, Woodstock, Inc. purchased a machine costing $40,000. Woodstock also paid $1,000 for transportation and insta
Margaret [11]

Answer:

b. $6,000

Explanation:

Depreciation is calculated on the cost of asset. Cost of asset includes the transportation and installation cost, because both are necessary in order to function the asset.

Accordingly total cost of asset = $40,000 + $1,000 = $41,000

Salvage value = $5,000

Thus, amount to be depreciated = $41,000 - $5,000 = $36,000

Useful life of the asset = 6 years

Straight line depreciation = $36,000/6 = $6,000 annually.

8 0
3 years ago
Tracy purchased a car for $19,500. She is financing the purchase at an 11% annual interest rate, compounded monthly for 3 years.
NemiM [27]

Based on the cost of the car and the interest rate, the amount Tracy is to pay is $638.41.

<h3>How much should Tracy pay?</h3>

The cost of the car is the present value of an annuity because Tracy's payment will be constant.

First find the monthly rate:

= 11% / 12 months

= 0.92%

The number of periods:

= 3 x 12 months

= 36 months

Amount to be paid is:

19,500 = Amount x (1 - ( 1 + 0.92%) ⁻³⁶) / 0.92%

Amount = 19,500 / 30.544874328

= $638.41

Find out more on the present value of an annuity at brainly.com/question/25792915.

#SPJ1

5 0
2 years ago
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