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AveGali [126]
3 years ago
6

During the first two years, supplies, inc. drove the company truck 15,000 and 22,000 miles, respectively, to deliver merchandise

to its customers. the company originally purchased the truck for $175,000. if the truck has an estimated life of 10 years or 300,000 miles, with an estimated residual value of $25,000, what amount of deprecation expense should supplies, inc. record in the second year using the activity-based method?
Business
1 answer:
Masja [62]3 years ago
3 0
$175,000-$25,000=$150,000
$150,000:10=$15,000
$15,000*2=$30,000
$150,000-$30,000=$120,000
That amount would be $120,000
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Explanation:

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Answer:

The answer is A

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Explanation:

a.

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b.

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Since payments and contributions account for 90% of revenue and revenue from other sources accounts for 10%, it's surprising how the church earns money in other ways as stated on the income statement. As a result, it's important to understand what other potential revenue streams the church has before approving the loan.

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The church has $3 million worth of equipment. The church's expenses, on the other hand, are equivalent to the church's income. As a result, it's unclear how the church acquired the equipment without taking out a loan. As a result, the church must be urged to produce a full breakdown of its expenses, which may be thoroughly and fully studied to see whether there are any financing charges that the church is attempting to hide in its yearly reports.

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The church's only sources of income are fundraisers and charitable donations. It also doesn't possess any significant revenue streams. Because the church is attempting to conceal numerous possible pieces of information, this may be a case of micro-management by the proprietors, and so these issues should be considered by the officer in charge of the loan before accepting the loan.

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