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Marianna [84]
2 years ago
11

Able Towing Company purchased a tow truck for $90,000 on January 1, 2012. It was originally depreciated on a straight-line basis

over 10 years with an assumed salvage value of $18,000. On December 31, 2014, before adjusting entries had been made, the company decided to change the remaining estimated life to 5 years (including 2014) and the salvage value to $2,500. What was the depreciation expense for 2014?
Business
1 answer:
attashe74 [19]2 years ago
5 0

Answer:

$14,620.00

Explanation:

Depreciation on a straight line is constant throughout the useful.

For able towing, depreciation  expenses for 2012 and 2013 will be

Depreciable amount = cost price - salvage value

=$90,000- $18,000= $72,000

Depreciation will be $72,000 /10 years which will be $7200 per year

For two years will be $7200 x 2= $14,400

At the beginning of 2014, the book value will be $90,000 - $14,400=$ 75,600

new salvage value beginning 2014 is $2500

Depreciable amount is $75,600- $2,500=$73100

use-life life is 5 years.

The depreciation rate for 2014 is  $73,100 /5 years

=$14,620.00

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olga_2 [115]

Answer:

21,000 units

Explanation:

The computation of the number of units started during November in the department is shown below:-

Number of units started during November in the department = units completed and transferred out + units in the ending work in process inventory - units in the Beginning work in process inventory

= 22,000 + 4,000 - 5,000

= 21,000 units

Therefore we have applied the above formula.

4 0
3 years ago
He vertical hierarchy is also known as _____.
wolverine [178]
Another term for the word "vertical hierarchy" is "the chain of command." A vertical hierarchy is an organisational structure that looks like a pyramid. Located at the topmost portion of this "pyramid" are the executives of a company, and below it are the supervisors in different departments and divisions.
3 0
3 years ago
A currency is said to have appreciated when it commands a ____________ amount of a foreign currency. it results in foreign goods
Tasya [4]

A currency is said to have appreciated when it commands a <u>larger</u>, amount of foreign currency. it results in foreign goods becoming <u>cheaper</u> for a country.

Foreign currency is something this is usually generic to have a price as a medium of alternate in order that it may be traded for goods and offerings. The trading gadget within an economy is based on its foreign money, which is normally specific to a rustic and issued with the aid of that country's government.

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Learn more about Currency here: brainly.com/question/2202418

#SPJ4

4 0
1 year ago
Before year-end adjusting entries, Dunn Company's account balances at December 31, 2020, for accounts receivable and the related
navik [9.2K]

Answer:

Option (B) is correct.

Explanation:

Given that,

Accounts receivables = $1,500,000

Allowance for doubtful accounts = $90,000

Expected uncollectibles = $125,000

The collection of accounts receivables after the adjustment for bad debt expense is determined by deducting the expected uncollectibles from the total amount of accounts receivables.

Accounts receivable amount expected to be collected after adjustment for bad debt expense:

= Accounts receivables - Expected uncollectibles

= $1,500,000 - $125,000

= $1,375,000

7 0
3 years ago
Lycan, Inc., has 7.9 percent coupon bonds on the market that have 6 years left to maturity. The bonds make annual payments and h
eimsori [14]

Answer:

$912.68

Explanation:

Particulars                      Time  PVF at 9.9%   Amount   Present Value

Cash Flows (Interest) 1.00        0.9099       79.00             71.88

Cash Flows (Interest)    2.00        0.8280       79.00             65.41

Cash Flows (Interest)    3.00        0.7534        79.00             59.52

Cash Flows (Interest)    4.00        0.6855        79.00            54.15

Cash Flows (Interest)    5.00        0.6238        79.00            49.28

Cash Flows (Interest)    6.00        0.5676        79.00            44.84

Cash flows (Maturity)    6.00        0.5676      1,000.00         <u>567.60</u>

Intrinsic Value of Bond or Current Bond Price                  $<u>912.68</u>

Thus, the Current bond price is $912.68

5 0
2 years ago
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