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nata0808 [166]
3 years ago
11

A truck costs $ 303 comma 000 and is expected to be driven 114 comma 000 miles during its fiveminusyear life. Residual value is

expected to be zero. If the truck is driven 34 comma 000 miles during the first​ year, how much depreciation should the business record under the unitsminusofminusproduction ​method? (Round any intermediate calculations to two decimal​ places, and your final answer to the nearest​ dollar.)
Business
1 answer:
Anika [276]3 years ago
7 0

Answer:

$90,900

Explanation:

Cost of truck = $303,000

Expected millage = 114,000 miles

Residual value = 0

Millage cover in first year = 34,000 miles

Depreciation is the systematic allocation of cost to an asset based on usage.

The depreciation of this truck is based on the millage covered. Hence the depreciation to be recognized in the first year

=  (34,000/114,000) × 303,000

= 0.30 × 303,000 (intermediate calculations rounded to two decimal​ places)

= $90,900 (to the nearest dollar)

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Marcy listed her property with Jennings Homes in March. The market was slow, and Marcy's property isn't in great condition—thoug
Kitty [74]

Answer: Mutual agreement to terminate the listing

Explanation: Analysing both conditions, The fact that Market is slow coupled with the defective condition of Mary's property may both culminate in Jennings finding a suitable buyer for the property. To fix this, Jennings proposed that Marcy being the owner should fix the property so as to increase sales probability, which Marcy declined as she was sure the location of the property was good enough to attract buyers. Here, both have different notions and cannot seem to Rea hba compromise in other to aid the sale of the property, the best option is for both Marcy and Jennings Homes to reach a mutual consent and terminate the listing contract.

7 0
3 years ago
The December 31, 2015, balance sheet of Schism, Inc., showed long-term debt of $1,460,000, and the December 31, 2016, balance sh
victus00 [196]

Answer:

- $140,000

Explanation:

The Cash flow to creditors = Interest paid - Net new borrowing

                                           = Interest paid - (Ending Long term debt - Beginning Long term debt)

                                         = $100,000 - ($1,700,000 - $1,460,000)

                                         = $100,000 - $240,000

                                         = - $140,000

Therefore, the cash flow to creditors is - $140,000.

4 0
3 years ago
Problem 24-6A Payback period, break-even time, and net present value LO P1, A1
KengaRu [80]

Answer:

1. Payback period = 2.8 years

2. Break-even time = 3.8 years

3. NPV = $12,577

Explanation:

NOTE: See the attached excel file for the calculation tables.

1. Determine the payback period for this investment.

Payback period = 2 years and [(49,600 / 70,800) * 12] months = 2 years and 8 months approximately = 2.8 years.

2. Determine the break-even time for this investment.

Break-even time = 3 years and [(23,622 / 36,199) * 12] months = 3 years and 8 months approximately = 3.8 years

3. Determine the net present value for this investment.

Net present value (NPV) of this investment is $12,577

Download xlsx
6 0
3 years ago
a system of shared beliefs and values that develops within an organization and guides the behavior of its members is called orga
AURORKA [14]

The system is known as <em>Organizational Culture</em>

We can define "Organizational Culture" as an existing belief which guides staff in understanding what to do & not and includes practices, values, assumptions about their work.

  • Organization cultures creates the structure of an organization through values, sociology, and psychology

  • Examples of organizational culture includes the company's philosophy, values, expectations, experiences etc

In conclusion, the system of shared beliefs and values which exist in an organization is known as Organizational Culture.

Learn more about Organizational Culture here

<em>brainly.com/question/13996722</em>

8 0
3 years ago
What is the biggest difference in who makes the contributions to 401(k) and IRA retirement plans?
allsm [11]
In a 401k the employer usually matches a percentage and if you are lucky dollar for dollar, where in an IRA it is does an an extra option with a set amount of money usually 2500 or more for each IRA contribution.
5 0
3 years ago
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