1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Vadim26 [7]
3 years ago
13

A company purchased a tractor on January 1, 2021, for $65,000. The tractor's useful life is estimated to be 30,000 miles with an

expected residual value of $5,000. If the company used the tractor 5,000 miles in 2021 and 3,000 miles in 2022, what is the balance for accumulated depreciation at the end of 2022 using the activity-based method
Business
1 answer:
Dvinal [7]3 years ago
7 0

Answer:

Accumulated depreciation at the end of year 2022 : $16,000

Explanation:

Activity based depreciation is whereby an asset is depreciated based on the asset’s activity such as the number of hours worked or the number of units produced, during a particular period of time. Activity based depreciation per year is calculated as:

[(Cost - Salvage value) x activity performed during the period] / Total estimated life activity of the asset

In 2021, the asset had an activity of 5000 miles. Depreciation for this year = [(65000 - 5000) x 5000] / 30,000

= $10,000

In 2022, the asset had an activity of 3000 miles. Depreciation for this year = [(65000 - 5000) x 3000] / 30000

= $6000

Accumulated depreciation at the end of year 22 : $10,000 + $6,000 = $16,000

You might be interested in
When must you sign a deposit slip?
lesya [120]
I believe the answer is: B. <span>You only need to sign a deposit slip when receiving cash.

Deposit slip would be filled with a list of cash and cash equivalent that you give to bank teller to be added to your bank account.
Most bank provide the services which allow you to take small percentage of your deposited check in the form of cash. When doing this, you need to sign it as a form of authorization.</span><span />
4 0
4 years ago
Read 2 more answers
Chip is a veteran who fought in Desert Storm. He has just retired from the military. He has been told he qualifies for a propert
joja [24]

Chip is a veteran who fought in Desert Storm. He has just retired from the military. He has been told he qualifies for a property tax exemption based on his military service during wartime. Which exemption applies to Chip?

A. Section 218

B. Proposition 13

C. Section 205

D. Proposition 60

Answer: C. Section 205

Explanation:

Section 205 of the property tax speaks about the property tax exemption for veterans. Under the category of veterans comes the people of military staff who have been currently serving or have been discharged due to some reasons like poor health, loss of body part or any other reason. The emption of property tax cannot exceed $4,000 for eligible veterans.

Section 205 can be applied on Chip for the emption of property tax due to being Veteran.

3 0
3 years ago
Corporation includes $200,000 of $1 par common stock and $400,000 par of 6% cumulative preferred stock. The board of directors o
vlabodo [156]

Answer:

The amount of dividends paid to common stockholders in 2021 $18000.

Explanation:

The cumulative preferred stock is the stock that accumulates dividends when the dividends are partially or not paid at all in a certain year. The dividends must be paid in the future.

The common stock holders are paid after the preferred stockholders are paid.

The preferred stock dividend per year = 400000 * 0.06 = $24000 per year

As the cash dividends paid in 2019 and 2020 are $20000 each,

The dividend outstanding on preferred stocks for 2019 is = 24000 - 20000 = $4000

Similarly, the dividends outstanding on preferred stocks for 2020 is = 24000 - 20000 = $4000

The total dividends outstanding at start of 2021 = 4000 + 4000 = $8000

Preferred dividend for 2021 = 24000

Total dividend on preferred stock = 24000 + 8000 = $32000

The amount of dividends that common stock holders will receive in 2021 = 50000 - 32000 = $18000

4 0
3 years ago
The focus of a(n) __________ strategy is high sales at low cost; the high sales are typically achieved by coming up with a produ
sp2606 [1]

Answer:

Mass marketing

Explanation:

Mass marketing -

It refers to as the marketing strategy , where the focus is on the complete market rather than some specific group , is referred to as mass marketing .

It is the reverse of niche marketing .

Mass marketing requires advertising method like , television , radio , newspaper , magazine etc.

As they tries to capture large area of consumers .

Hence , from the given information of the question ,

The correct answer is mass marketing .

5 0
3 years ago
When creating video marketing content on a budget, what is the first thing you should consider doing?
ozzi

Answer:Shooting as much as you can and culling it later

Explanation:

4 0
3 years ago
Other questions:
  • It is common knowledge that many people foolishly put metal containers and utensils in microwave ovens. Such misuse by product p
    15·1 answer
  • Last month, sellers of good Y took in $100 in total revenue on sales of 50 units of good Y. This month sellers of good Y raised
    9·1 answer
  • The net cash flows of Advantage Leasing for the next 3 years are $42,000, $49,000 and $64,000 respectively, after which the grow
    8·2 answers
  • Darren has developed a better type of medication vial for travelers. He is not sure how to develop a marketing program for his p
    8·1 answer
  • A PR firm in Chicago explores census data, reads market research reports,searches for blogs or news stories on the Web, or revie
    13·1 answer
  • Bob is shopping in Carl’s Hardware Store when a nail gun in use by Dan, one of Carl’s employees, fires without warning and hits
    14·1 answer
  • Who want to do 1v1 lol with me
    11·2 answers
  • Identify and explain two advantages to ruby of having part-time employees​
    6·1 answer
  • Bottle Breacher was a successful company that began with crowdfunding through the television show Shark Tank. This is an example
    13·1 answer
  • Being anti socialble Means being negative To people and have any words at all and not being friendly
    6·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!