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mash [69]
3 years ago
11

Double-declining balance On January 1, 2021, the Excel Delivery Company purchased a delivery van for $51,000. At the end of its

five-year service life, it is estimated that the van will be worth $4,800. During the five-year period, the company expects to drive the van 154,000 miles. Required: Calculate annual depreciation for the five-year life of the van using each of the following methods.
Business
1 answer:
agasfer [191]3 years ago
3 0

Answer:

$18,480

Explanation:

Cost of van = $51,000

Useful life = 5 years

Salvage value = $4,800

Using the straight line, Annual depreciation

= (51000 - 4800)/5

= $9,240

Using the Double-declining balance method,

Annual depreciation = 2 × 9,240

                                  = $18,480

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In exchange for manufactured goods, Native Americans in the West often traded sheep. Cattle. Furs. Guns.
Olenka [21]

The correct statement is that the Native Americans used to exchange furs for manufactured goods. Such practice of goods in exchange for goods is known as barter system. So, the correct option is C.

Barter system is one of the oldest form of trade and exchange system that has been in existence even before the invention of currency for the purpose of exchange.

<h3>Barter System</h3>

  • The barter system refers to as a system under which goods and commodities are traded for the exchange of excess goods and commodities.

  • The barter system has its own discrepancies and faults as there was no specific medium of exchange and this necessity led to the invention of currency notes and coins.

  • The Native Americans were mostly Indians and carried hunting of animals and hence the furs obtained from animals was in excess with them and as a result, it was exchanged for finished goods.

Hence, the correct option is C that the Native Americans used furs for the exchange of manufactured goods during the days of barter exchange system.

Learn more about barter system here:

brainly.com/question/1888121

4 0
3 years ago
Anthony is deciding between different saving accounts at his bank.he has four options,based on how frequently interest compounds
puteri [66]
The appropriate response is Daily Compounding. Progressive accrual is the expansion important to the key total of an advance or store, or as it were, enthusiasm on intrigue. It is the aftereffect of reinvesting premium, instead of paying it out, so that enthusiasm for the following time frame is then earned on the chief total in addition to the already gathered premium.
3 0
3 years ago
Gladstone Company tracks the number of units purchased and sold throughout each accounting period but applies its inventory cost
Ilya [14]

Answer:

  • <u>Sale, March 14 (1,380 units) cost of goods sold = $117,200</u>
  • <u>Sale, August 31 (1,550 units ) cost of goods = $96,100</u>
  • <u>Ending inventory = 1,800 units</u>

<u>Explanation</u>:

a. Cost Of Goods Sold Using LIFO

<u>1. Sale, March 14 (1,380 units)</u>

- from May 1 purchase)

1,130 units at $90= 1130*90= $101,700

+

from January 30 purchase

250 units from 2,150 units at $62 = $15,500

Total= 15,500+101,700= $117,200

<u>2. Sale, August 31 (1,550 units )</u>

- from January 30 purchase

1,550 units from 1900 units leftover

1550 at $62 = 1550*62= $96,100

b. Ending inventory

350 units leftover from January 30 purchase + 1,450 units of Beginning inventory, January 1 = 1,800 units

5 0
3 years ago
What was Thomas Malthus’s theory of population growth?
Rufina [12.5K]

Answer:

A population would grow faster than its ability to feed itself.

Explanation:

Thomas Malthus' theory, in my personal beliefs, is remarkably accurate and quite rational. He argued that if one were to have a country/population left unchecked, as in without any form of administration, government, or central authority to balance it, that a population would thus outgrow its resources and thus result in overpopulation and a lack of necessities... something that may, perhaps, lead to eventual extinction.

This is fairly factual when you think of the contemporary age. The earth was previously believed to have a carrying capacity of about 2-40 billion people, an argument that eventually centered on around 7 billion. Today, the earth's maximum carrying capacity is generally percieved to be about 9 billion people. In this age, we currently are nearing 8 billion.

This. Is. An. Issue.

A plethora of earth's resources that life itself depends on is LIMITED. Our freshwater reserves are limited. The amount of animals on this planet, a source of food, is <em>also </em>limited. The amount of plants on this planet, significant sources of energy, food, oxygen, and all sorts of natural processes that keep everything alive, are, unfortunately, limited.

This demands that humans figure a way to require less of these precious resources, fast. By the year of 2150, we'll likely have surpassed our carrying capacity.

For the issue of food, there are options. The primary issue is that humans are omnivores, as in, we love both plants AND animals... in our stomach's, of course. A prime example is myself! Personally, I couldn't live without beef, but I <em>definitely </em>couldn't or wouldn't want to survive without spinach and broccoli, because they are absolutely delicious.

However, despite humans being omnivores, we stubbornly refuse to eat our veggies. . . meaning a mass majority of us prefer to eat meat. We breed our animals to have offspring, giving us more meat. We generically enhance or even create our meat. We love meat.

The issue being that meat is a terrible source of energy. Remember, energy comes from sources of life itself, like the sun! PLANTS take the mass majority of this energy in, not animals. Animals EAT the plants, to where as much as 80% of that initial energy source is lost, disappearing into nothing, and meaning only roughly 20% is absorbed into the animal upon eating the said plant. Then, and only then, HUMANS come to eat the animal, in which 80% of that initial 20% is also lost between these stages.

As you can see, humans end up with barely any amount of this vital energy, simply because we love meat. We feed the plants to the animals to keep them healthy so WE can then eat the said animals, thus resulting in a HUGE loss of energy. We use our land for pastures. We give other resources (like water) to the animals, again, so we can eventually consume them.

The earth is going to run out of resources at one point or another, but our current consumption habits will likely hasten this process as far as freshwater and food.

Ofc, it shouldn't need to be said that if we were ALL to switch to primarily plant-only consumption, we'd probably be set. Getting rid of all our pastures and replacing them with massive farms would give is a surplus of plants, which are remarkably better sources of energy and will thus be able to sustain humans much, much longer. We won't have to worry as much about starving.

Then again, you must ALSO worry about the fragility of plants. They can easily be detroyed by natural disastors and are dependant upon environmental conditions such as weather temperature, climate, and soil. These factors are very limiting, but then you must additionally remember the amount of care they require, as well as they are extremely vunerable to mass destruction (like droughts, burning, flooding, etc., which can wipe out a LOT at once).

Obviously it's a give-or-take thing.

Malthus said it right, three hundred years ago.

I get the length of this post was probably uneccesary but you asked a very good question that gave me an excuse to cover something in-depth.

I am inevitable.

~Troy

3 0
3 years ago
Net loss can be thought of as a __________ to the Capital account.<br><br> Debit<br> Credit
xz_007 [3.2K]

Answer:

The answer is Credit.

Explanation:

Net loss can be thought of as a <u>Credit </u>to the Capital account.

6 0
2 years ago
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