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Airida [17]
3 years ago
14

Smith Concrete Company owns enough ready-mix trucks to deliver up to 100,000 cubic yards of concrete per year (considering each

truck's capacity, weather, and distance to each job). Total truck depreciation is $200,000 per year. Raw materials (cement, gravel, and so on) cost about $25 per cubic yard of cement
Business
1 answer:
salantis [7]3 years ago
4 0

Answer:

Depreciation of truck if it delivers 30,000 cubic yard of concrete in one year 200,000 / 100,000 * 30,000 = $60,000

Cost of raw material for 2,000 cubic yard (2,000 * $25 )= $50,000

Explanation:

Depreciation is allocation of an assets cost over its useful life. Depreciation expense is considered as a tax shield. The larger the depreciation expense, the lower will be the taxable income. Smith Concrete company uses concrete material as a base for truck depreciation. Truck depreciation cost is fixed cost. The raw material cost of concrete is variable.

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Accounts receivable $1,050,000Allowance (90,000)Cash realizable value $960,000During 2007 sales on account were $290,000 and col
Flauer [41]

Answer:

a. $ 34,000

Explanation:

The entry when the company wrote off uncollectible accounts:

Debit Allowance for Doubtful Accounts $16,000

Credit Uncollectible accounts $16,000

At the end of 2007, Allowance for Doubtful Accounts before adjusting trial balance: $90,000-$16,000 = $74,000

The company estimates bad debts based on outstanding receivable accounts. So, the amount of Bad debts expense for 2007 should be:

$108,000 - $74,000 = $34,000

The entry will be record:

Debit Bad debts expense $34,000

Credit Allowance for Doubtful Accounts $34,000

5 0
3 years ago
The City of Lawrence opens a solid waste landfill in 2017 that is at 54 percent of capacity on December 31, 2017. The city had i
Maurinko [17]

Answer:

Detailed solution is given below:

6 0
3 years ago
The PCAOB has the power to
Irina-Kira [14]

Answer:

A. inspect large firms annually

Explanation:

According to my research on Accounting Firms, I can say that based on the information provided within the question the PCAOB has the power to inspect large firms annually. The Public Company Accounting Oversight Board is in charge of overseeing the audits of public companies as well as other issuers.

I hope this answered your question. If you have any more questions feel free to ask away at Brainly.

6 0
3 years ago
Comparing Costs of Credit Using Three Calculation Methods. You have been pricing a compact disk player in several stores. Three
Solnce55 [7]

Answer:

Store A = 3.4521

Store B = 2.9589

Store C =  4.4384

Explanation:

Store A charges ADB method

purchase made on 5th first payment on 15th of 100

so from 5th to 15th Average daily balance =300 for 10 days

then from 15th to 4th for remaining 20 days average daily balance = 200

Average Daily Balance = (300*10+200*20)/30

Total finance charge = ADB*(APR*(Days/365))

=300*((0.18)*(10/365))+200*((0.18)*(20/365))

= 1.4795+1.9726=3.4521

Store B

Adjusted Balance Method uses adjusted balance to calculate the charges

Adjusted balance=Starting balance adjusted for credit and debit

Adjusted balance =300-100=200

Financial Charges = 200*(.18*(30/365))=2.9589

Store C

Previous Balance Method the interest is calculated on amount of balance carried from previous billing cycle

Balance Carried = 300

Charges =300*(.18*(30/365))= 4.4384

7 0
3 years ago
Read 2 more answers
<11{6[1(07)71]}> The higher the price of an antique, the greater people’s expectation that the object is rare. That, in tu
ollegr [7]

Answer:

a. should be discouraged because it lessens a quality that makes that antique desirable

Explanation:

In pricing theory, the price for a good or service should increase as its scarcity increases. Now selling the antique at a bargain price will reduce the price of it and thereby making it less scarce and rare.

8 0
3 years ago
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