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borishaifa [10]
3 years ago
12

A British Tran jet costs $ 42,000,000 and is expected to fly 350,000,000 miles during its 12​-year life. Residual value is expec

ted to be zero because the plane was used when acquired. If the plane travels 52,000,000 miles the first​ year, how much depreciation should British Tran record under the​ units-of-production method?
Business
1 answer:
Dmitry [639]3 years ago
3 0

Answer:

Annual depreciation= $6,240,000

Explanation:

Giving the following information:

Purchasing cost= $42,000,000

It is expected to fly 350,000,000 miles.

The plane travels 52,000,000 miles the first​ year

Using the units of production method, we need to use the following formula for each year:

Annual depreciation= [(original cost - salvage value)/useful life of production in miles]*miles travelled

Annual depreciation= (42,000,000 / 350,000,000)*52,000,000

Annual depreciation= $6,240,000

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Answer:

The journal entries are as follows:

(i) On June 1,

Petty cash A/c    Dr. $200

To cash                                 $200

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Postage A/c             Dr. $25

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8 0
3 years ago
If the price elasticity of demand for a product equals 1, as its price rises the:______
Allisa [31]

Answer:

c. total revenue does not change.

Explanation:

A price elasticity of demand can be defined as a measure of the responsiveness of the quantity of a product demanded with respect to a change in price of the product, all things being equal.

Mathematically, the price elasticity of demand is given by the formula;

Price \; elasticity of demand = \frac {Percentage \; change \; in \; quantity \; demanded}{Percentage \; change \;  in \; price}

The demand for goods is said to be elastic, when the quantity of goods demanded by consumers with respect to change in price is very large. Thus, the more easily a consumer can switch to a substitute product in relation to change in price, the greater the elasticity of demand.

Generally, consumers would like to be buy a product as its price falls or become inexpensive.

For substitute products (goods), the price elasticity of demand is always positive because the demand of a product increases when the price of its close substitute (alternative) increases.

If the price elasticity of demand for a product equals 1, as its price rises the total revenue does not change because the demand is unit elastic.

5 0
2 years ago
7. Multi-Step Four girls and two boys
dimaraw [331]

Answer:

1.5 is the answer

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3 years ago
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E) I, II, and III.

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