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)
Answer:
The depreciation schedule for six years is attached below.
Explanation:
Answer: Option C
Explanation:
A. As per the general principles of accounting expenses are recorded on the debit side thus they are increases when debit transaction is made.
B. Transactions involving liabilities are recorded on credit side of the accounts.
C. Revenues are recorded on credit side of the transactions thus revenues increased when accounts are credited.
D. Transactions involving purchase of assets are recorded on debit side thus debit transactions increases debits.
None of the options shows an alternative Tina has, a real alternative would be a credit card and cash ($190)
In economics, an alternative is an element that replaces or substitutes another. For an element to be considered an alternative it needs:
- To belong to the same category or have the same function.
- To be possible for the user to replace the first element using the alternative.
Based on this, let's analyze each of the options:
- Jacket and $100: These are not alternatives because Tina wants a jacket and this product cannot be replaced with money as money will not protect Tina from cold weather.
- Shoes and a jacket: These are not alternatives because Tina wants the two products not only one.
- Credit card and $100: These would be alternatives if the total cost was $100. However, using a credit card Tina can pay for both products but using $100 she can only pay for one of the products.
Therefore, the options do not present alternatives; but one valid alternative is a credit card and $190.
Learn more in
A change in quantity supplied is a movement along the supply curve, while a change in supply is a shift in the supply curve.
<h3>What is a supply curve?</h3>
The supply curve is a positively sloped curve that shows how quantity supplied changes with price of the good. All things being equal, the higher the price of the good, the higher the quantity supplied.
<h3>What is a change in supply and a change in quantity supplied?</h3>
A change in quantity supplied is as a result of a change in the price of the good. If price increases, quantity supplied increases and if it decreases, quantity supplied decreases.
A change in supply is caused by other factors other than price. Some of these factors include:
- A change in the number of suppliers
- The cost in the price of raw materials needed in the production of the good.
A change in supply leads to a movement outward or inward.
To learn more about supply curves, please check: brainly.com/question/26073189
