1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
malfutka [58]
2 years ago
13

2. On January ​1, Alamo Cranes purchased a crane for $ 140,000. Alamo expects the crane to remain useful for six years ​(1,000,0

00 ​lifts) and to have a residual value of $ 2,000. The company expects the crane to be used for 80 comma 000 lifts the first year.
Compute the​ first-year depreciation expense on the crane using the​ straight-line method. Begin by selecting the formula to calculate the​ company's first-year depreciation on the crane using the​ straight-line method. Then enter the amounts and calculate the depreciation for the first year.
Business
1 answer:
Kazeer [188]2 years ago
8 0

Answer:

$23,000

Explanation:

The computation of first-year depreciation expense using straight line method is shown below:-

Straight-line depreciation = (Cost- residual value) ÷ Useful life

= ($140,000 - $2,000) ÷ 6

= $138,000 ÷ 6

= $23,000

Therefore for computing first-year depreciation expense using the Straight-line depreciation we simply applied the above formula.

You might be interested in
Selected information from Peridot Corporation's accounting records and financial statements for 2021 is as follows ($ in million
guapka [62]

Answer:

$43 million

Explanation:

The cash flow statement categories the company's transactions in a financial period into 3 groups; these are operating, investing and financing.

The net profit/loss, depreciation, changes in current assets (other than cash) and liabilities are considered as operating activities including income taxes.  

The sale of assets, interest received, purchase of investments are examples of investing activities while the issuance of stocks, debt principal deduction (loan settlement), issuance of debt securities etc are examples of financing activities.

An increase in assets other than cash is an outflow while an increase in liabilities is an inflow. Depreciation and other non-cash expenses deducted in the income statements are added back while the non-cash income such gain on asset are deducted from net income.

Peridot's Net cash outflows from investing activities (in millions)

= -$38 + $96 + $71 - $86

= $43

The gain from the disposal of land will be deducted from the net income under the cash flows from operating activities while the requisition of own shares is a financing activity.

3 0
3 years ago
Gaden company sells a product for $50 per unit. Warialbe costs are $40 per unit. Calculate the contribution margin per unit, in
max2010maxim [7]

The Garden company sells a product for $50 per unit. Variable costs are $40 per unit.  50 % of the contribution margin per unit, in total, and as a ratio.

Selling price per unit - Variable cost per unit = Contribution margin per unit

50 - 25 = $ 25

Sales - Variable cost = Contribution margin

( 610 * 50 ) - ( 610 * 25 ) = $ 15250

Contribution margin / Sales = Contribution margin ratio

15250 / 30500 = 50%.

Variable costs are directly related to the cost of producing goods and services, whereas fixed costs do not change with the level of production. Variable costs are commonly referred to as COGS, but fixed costs are not usually included in COGS. Fluctuations in sales and production levels can affect variable costs when factors such as sales commissions are included in the unit price of production. On the other hand, fixed costs still have to be paid, even if production slows down significantly.

Learn more about Variable costs at

brainly.com/question/5965421

#SPJ4

7 0
10 months ago
The process of setting aside money and putting it to work by having it earn interest or dividends or gain value in the equities
Kisachek [45]

Answer:

Saving and investing.

Explanation:

Savings is basically putting aside current money for future use. Investing is committing money to make profit over period of time.

4 0
3 years ago
Lindsey holt owns stock in the galloway gems company. she knows in advance that the dividend on this stock is a $1.50 per share.
solniwko [45]

According to the given statement Lindsey holt purchased preferred stock.

The correct option is B.

<h3>What is the preferred stock?</h3>

Preferred stock, which is a component of share capital and is commonly referred to as a combination indicator, is an asset that has any combination of features that common shares does not, such as those of an equity and a promissory note.

<h3>How do preferred stocks work?</h3>

securities with a repaired par value that pays dividends at a fixed rate, generally based on a proportion of the par value. The market price of preferred shares, like bonds, is dependent on changes in interest rates. When interest rates rise, the value of the preferred stock falls.

To know more about preferred stock visit:

brainly.com/question/15078323

#SPJ4

I understand that the question you are looking for is:

Lindsey Holt owns stock in the Galloway Gems Company. She knows in advance that the dividend on this stock is a $1.50 per share and that it is a promised or contractual and constant dividend . Given this, you know for sure that she purchased which type of stock?

A. Green chip

B. Preferred

C. Penny

D. Uncommon

E. Growth

4 0
1 year ago
Hii! I got a question, if a brainly expert or tutor can answer that would be great!
kupik [55]

Answer:

As an Ambitious member, you're climbing your way up the Brainly ranks one great answer at a time! The rank after Expert is Ace! And it just depends on the level you are on. On expert, you have to have 10 Brainlist to get to Ace. Then you have to have 50 Brainlist to reach the level after!

Explanation:

Hope this helped! :)

Have a good day!

5 0
2 years ago
Other questions:
  • Blanchard Company manufactures a single product that sells for $140 per unit and whose total variable costs are $112 per unit. T
    12·1 answer
  • Marc and michelle are married and earned salaries this year of $69,200 and $13,950, respectively. in addition to their salaries,
    7·1 answer
  • Flexible Budget for Selling and Administrative Expenses for a Service Company Digital Solutions Inc. uses flexible budgets that
    13·1 answer
  • A company had net sales of $752,000 and cost of goods sold of $543,000. Its net income was $17,530. The company's gross margin r
    7·1 answer
  • Which elements do you think need to go in a fire prevention plan?
    14·2 answers
  • Which is an example of marketing function for a business? 1.) Preparing an income statement
    5·1 answer
  • What is a commodity?
    5·2 answers
  • After getting her degree in Economics, Jeanine went to work for the Bureau of Labor Statistics. She compiles data on the unemplo
    6·1 answer
  • A company has two open seats, Seat A and Seat B, on its board of directors. There are 6 candidates vying for these 2 positions.
    10·1 answer
  • The balance in Discount on Bonds PayableGroup of answer choicesshould be reported on the balance sheet as an asset because it ha
    5·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!