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KiRa [710]
3 years ago
15

The Flintstone Construction Company delivers dirt and stone from local quarries to its construction sites. A new truck that was

purchased for a cost of $118,000 at the beginning of the year was expected to deliver 118,000 tons over its useful life. The following is a breakdown of the tons delivered during the year to each construction Construction Sites: A B C D Tons Delivered: 1,800 3,300 3,800 1,300 How much truck depreciation should be allocated to Site A
Business
1 answer:
Sedaia [141]3 years ago
4 0

Answer:

$1,800

Explanation:

Depreciation is the systematic allocation of the cost of an asset to the income statement over the estimated useful life of that asset.

It is determined as the depreciable value of the asset over the estimated useful life of the asset where the depreciable value is the difference between the cost and salvage value of the asset.

Total Depreciation = (1800 + 3300 + 3800 + 1300)/118000 * $118,000

= $10,200

The depreciation allocated to site A

= 1800/10200 * $10,200

= $1,800

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Donna entered into an oral contract with Ava to purchase a house from Ava, with $500 per month payments for the next 10 years. D
Crank

Answer:

Oral contracts regarding the sale of real property are enforceable under the Statute of Frauds.

Explanation:

Another thing that supports Donna's case is that she spent money, time and possibly others resources remodeling the house because she relied on the validity of the oral contract.

4 0
3 years ago
The amortization of a premium on bonds payable: A) has no effect on the cash payments for interest reported in the operating act
Aleks [24]

Answer:

A) has no effect on the cash payments for interest reported in the operating activities section of the statement of cash flows

Explanation:

The amortization is an accounting method to match the difference in the nominal interest rate of bonds with the real interest rate the bond is yielding.

Th cash flow statment will just recognize the cash proceeds, which are calculate base on the face value, regardless of the premium or discount in the bond.

6 0
2 years ago
What would be the return on total assets of a firm if net income is $50,000, total sales are $100,000, and total assets are $175
lesantik [10]

Answer: 28.6%

Explanation:

The return on the total asset of a firm will be calculated as the net income divided by the total asset and this will be:

=Net income / Total assets

=50,000/175,000

=28.6%

Therefore, return on total asset is 28.6%

7 0
3 years ago
Costs that change directly with the level of production are referred to as ________ costs
Elodia [21]
The answer to this question is Variable cost.
As the level of production increase , the total variable cost is increased and vice versa.
Examples of variable cost are the cost of sugar in condensed milk factory, the cost of leather in bag manufacturing, the cost of coffee beans in starbucks, etc.
6 0
3 years ago
One of the leading indicators of concentrated family ownership and control is the appointment of family members as board chairma
Aleksandr-060686 [28]

Answer:

TRUE

Explanation:

According to Mike Peng and his book "Global Business", these indicators help to identify problems such as: principal-principal conflicts (problems between controlling shareholders and minority shareholders), expropriation and tunneling ( when managers from the controlling family divert resources for personal use or family use).

5 0
2 years ago
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