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Komok [63]
1 year ago
11

Scott+stratton+recently+purchased+a+car+for+$22,500.+it+will+depreciate+at+a+rate+of+7%+per+year.+what+will+his+car+be+worth+in+

5+years+when+it+is+paid+off?
Business
1 answer:
ICE Princess25 [194]1 year ago
3 0

The cost of the car after 5 years from then, will be $15652.99.

Given here, the depreciation every year(r) 7%  or 0.07per year, asset cost (of the car) is $22,500 and time period (n) is 5 years.

The value after 5 years can be calculated as,

Depreciated value = asset cost ×(1-r) n

= 22500 × (1-0.07) 5

= 15652.99$.

Thus, the car worths 15652.99$ after 5 years.

The worth of an asset after its useful life is expired, as it is diminished over time by depreciation, is its depreciated cost. The asset’s worth is continuously diminished by figuring out how much it will cost to depreciate it, but the depreciated cost technique always permits accounting records to represent an item at its current value.

Depreciation is an accounting technique for spreading out the expense of a tangible item over the course of its useful life.

To learn more about Depreciation, refer this link.

brainly.com/question/24218291

#SPJ4

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Which of the following statements are true concerning the predetermined overhead rate when the direct labor-hour requirement for
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Explanation:

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6 0
3 years ago
What will be the depreciation, via the straight line method, if the cost of a plant is $43,250, estimated disposal value is $3,2
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Answer:

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7 0
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Indicate with the appropriate letter the nature of each adjustment described below: Type of Adjustment A. Change in accounting p
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Answer:

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Answer:

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3 0
2 years ago
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