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TEA [102]
3 years ago
15

Carson Company purchased a depreciable asset for $560,000. The estimated salvage value is $28,000, and the estimated useful life

is 10,000 hours. Carson used the asset for 1,500 hours in the current year. The activity method will be used for depreciation. What is the depreciation expense on this asset in the current year?
Business
1 answer:
LenaWriter [7]3 years ago
5 0

Answer:

$79,800

Explanation:

Depreciation expense using the activity method = (actual hours of use in a given period / total estimated hours of use ) × ( Cost of asset - Salvage value)

(1500/10,000) × ($560,000 - $28,000) = $79,800

I hope my answer helps you.

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On December 15, 2021, Rigsby Sales Co. sold a tract of land that cost $3,300,000 four $5,000,000. Rigsby appropriately uses the
Flura [38]

<u>Solution and Explanation:</u>

Installment Receivables (Net) of $2,905,600

Basis  Particulars                                         Debit  Credit

Sale:-  Instalment Receivables  $5,000,000  

         Inventory                                               $3,200,000

 Deferred gross profit                                                  $1,800,000

Payment:-  Cash                         $4,90,000  

Instalment Receivables                                     $4,90,000

Deferred Gross profit                 $165,600  

Realised Gross profit                                              $165,600

Instalment Receivables ($5,000,000 minus $490,000) = $4,510,000

Deferred gross profit ($1,800,000 minus $165,600) = $1,634,400

Instalment Receivables (Net) = $2,875,600

8 0
3 years ago
Pioneer has developed a new consumer electronics item-a heterogeneous shopping product with unique patented features. it probabl
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<span>Answer: Pioneer has developed a new consumer electronics item-a heterogeneous shopping product with unique patented features. it probably should use a marketing mix of-Selective distribution, skimming pricing, pioneering.</span>
8 0
3 years ago
What are some good ways to convince your mom to let you stay over your best friend house because of the rona?
Luden [163]

Answer:

give ur mom the corona and then u cant stay in the house because anything could be infected

or just annoy her so much that she kicks u out

Explanation:

6 0
3 years ago
Read 2 more answers
Suppose the supply and demand for a certain textbook are given by ​supply: p equals one fourth q squared comma ​demand: p equals
Llana [10]

Answer:

the demand quantity and the supply quantity at a price of ​$15 is 8 units

Explanation:

Supply, P = 1/4 Q²

Demand, P = - 1/4 Q²+30

If P = 15

Quantity Demanded will be 15 = -0.25Q²+30;

if we move 30 across the equality sign.

Therefore -0.25Q²=-15; divide both sides by -0.25;

Q² = 60, Q = 7.746, approximately 8 units

Quantity Supplied will be 15 =  1/4 Q², dividing both sides by 1/4

Q² = 60, Q = 7.746, approximately 8.

6 0
3 years ago
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Wolverine Company financial statements included the effects of these errors: Reported Net Income for Year 1 was $20,000. Reporte
Natali [406]

Answer:

Net income year 2 = $21,300

Explanation:

I looked for the missing information and found this:

Year            Depreciation overstated         Prepaid expense omitted

1                              $2,500                                $2,000

2                             $4,000                                $2,700

If your question doesn't include the same values, just adjust the answer.

Year 2's net income = net income (year 2) + overstated depreciation (year 2) + omitted prepaid expenses (year 1) - omitted prepaid expenses (year 2) = $18,000 + $4,000 + $2,000 - $2,700 = $21,300

5 0
3 years ago
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