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notsponge [240]
3 years ago
13

2. The La Salle Bus Company has decided to purchase a new bus for $95,000 with a trade-in of their old bus. The old bus has a BV

of $10,000 at the time of the trade-in. The new bus will be kept for 10 years before being sold. Its estimated SV at that time is expected to be $15,000.
a. Determine which asset class of the bus.
b. Determine annual Straight-Line Depreciation charge.
Business
2 answers:
Lera25 [3.4K]3 years ago
5 0

Answer:

a.

9 recovery period years class

b.

$8,889 per year

Explanation:

a.

Buses are 9 years recovery period class , in which it is depreciated using historical method and it has 5 years GDS class life.

b.

Straight Line depreciation is a method of depreciation in which the cost of the asset net of residual value is divided over useful life.

We will depreciate this asset for only 9 years because it has 9 years class, even it will be kept for 10 years but the depreciation charged for 9 years.

Depreciation rate = ( Cost - Salvage Value ) / useful life = ($95,000 - $15,000) / 9 = $8,889

Depreciation charged in 2018 = $19,500

Ksivusya [100]3 years ago
3 0

Answer:

a. Non- Current Asset

b. Depreciation Charge = $8,000

Explanation:

Straight Line method charges the same amount of depreciation on the asset over its useful life.

<em>Depreciation Charge = (Cost - Salvage Value)/ Number of Useful Life</em>

                                   = ($95,000- $15,000) / 10

                                   = $8,000

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In Lean/JIT systems the burden of ensuring quality of production inputs from vendors shifts from the _____________ to the ______
irina [24]

Answer:

Buyer/seller

Explanation:

In the case of lean system it focused on the customer side while on the other hand the JIT i.e. Just in time focused on the manufacturing process i.e. efficiency

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2 years ago
State 2 reasons that lead to foreign trade.plz answer asap!!!​
inn [45]

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3 0
3 years ago
Sheridan Company applied FIFO to its inventory and got the following results for its ending inventory. Cameras 113 units at a co
ICE Princess25 [194]

Answer:

Ending inventory is <u>$24,917</u>.

Explanation:

Lower-of-cost-or-net realizable value method implies that whichever is lower between the cost per unit and the net realizable value per unit is used to value the ending inventory of an item.

The ending inventory can therefore be determined as follows:

<u>For Cameras:</u>

Units = 113

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net realizable value per unit = $74

We choose cost per unit since it is lower and we have:

Cameras ending inventory = 113 * $61 = $6,893

<u>For Blu-ray players:</u>

Units = 153

Cost per unit = $77

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We choose net realizable value per unit since it is lower and we have:

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Units = 133

Cost per unit = $86

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We choose net realizable value per unit since it is lower and we have:

iPods ending inventory = 133 * $78 = $10,374

<u>Calculation of ending inventory:</u>

Ending inventory = Cameras ending inventory + Blu-ray players ending inventory + iPods ending inventory = $6,893 + $7,650 + $10,374 = $24,917

8 0
2 years ago
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