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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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Answer:

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Explanation:

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c. What date is the ex-dividend date?

The ex-dividend date refers to date that a seller of stock is still eligible to receive dividend despite that the stock has already been sold to a by him. This is because it is the person that hold the security on the ex dividend date that will receive the dividend payment not the holder on the payment date. Generally, ex-dividend date is usually one business day before the record date. In this case,he ex-dividend date is November 14th 2019.

d. What date is the payment date?

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6 0
3 years ago
The facts that money must withstand the wear and tear that comes from being used over and over again is a measure of its?
Lemur [1.5K]
I think the correct answer from the choices listed above is option C. <span>The facts that money must withstand the wear and tear that comes from being used over and over again is a measure of its durability. Hope this answers the question. Have a nice day.</span>
3 0
3 years ago
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An organization's long-term objectives and the plan it has to achieve them are referred to as its strategy. In other words, it demonstrates the strategy for achieving the stated goal. The specific steps taken to accomplish the objectives in accordance with the strategy are referred to as a tactic. A plan outlines the ways by which the outcomes (goals) will be accomplished (resources). Strategy can be predetermined or it can develop organically when an organization competes or changes its surroundings. It entails tasks like strategic planning and strategic thought. Business, operational, and transformational strategies are all types of strategy. The five Ps each stand for a different method of strategy. Plan, Ploy, Pattern, Position, and Perspective fall under this category. These five factors make it possible for a business to create a more effective plan.

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6 0
1 year ago
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7 0
3 years ago
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ProTech began business at the start of the current year. The company planned to produce 40,000 units, and actual production conf
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Answer:

$230,000

Explanation:

Calculation for what the company's absorption-costing income would be:

First step is to calculate the Fixed manufacturing per unit

Fixed manufacturing per unit = $240,000 ÷ 40,000

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Second step is to calculate the per units cost using this formula

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Let plug in the formula

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Now let calculate the what the company's absorption-costing income would be

Absorption-costing=$370,000 − $140,000

Absorption-costing= $230,000

Therefore the company's absorption-costing income would be:$230,000

4 0
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