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Delicious77 [7]
3 years ago
11

Warren corporation purchased a truck at a cost of $60,000. It has an estimated useful life of five years and estimated residual

value of $5,000. At the beginning of year three, warren's managers concluded that the total useful life would be four years, rather than five years. There was no change in the estimated residual value. What is the amount of depreciation that warren should record for year 3 under the straight-line depreciation method?
Business
1 answer:
s344n2d4d5 [400]3 years ago
6 0

Answer:

What is the amount of depreciation that warren should record for year 3 under the straight-line depreciation method? $15500

Explanation:

Net Value Dep. year End Net value.

Year 1 55000 12000          43000

Year 2 43000 12000          31000

Year 3 31000 15500          15500

Year 4 15500 15500            0

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The type of insurance that pays a set sum of money to a policyholder's survivors is called ____________ insurance.
Norma-Jean [14]
When survivors or beneficiaries receive a set sum of money from insurance, it is from a life insurance policy. Many people pay into a life insurance policy for numerous years to leave money for their families future. There are several types of life insurance that can be purchased such as term life and permanent life insurance. 
7 0
3 years ago
As production increases:
Margaret [11]

Answer:

Correct option is (D)

Explanation:

Total cost is a sum of Total fixed cost and total variable cost. Fixed cost does not change with the change in number of units produced. Variable cost on the other hand increases with the increase in production.

So, initially fixed cost is higher than variable cost at a certain production level. As production increases, fixed cost is spread across units and per unit fixed cost falls but variable cost keeps increasing, so total cost keep increasing with increase in production because of variable cost component.

7 0
3 years ago
For the current year, Gina Hestopolis had adjusted gross income of $100,000. During the year, she contributed $6,000 to her chur
Dvinal [7]

Answer:

$39,000

Explanation:

This can be calculated as follows:

Charitable contribution to carry forward = Contribution to church + Contribution to qualified charities + Half of the fair market value of contributed religious artwork

Therefore, we have:

Charitable contribution carry forward = $6,000 + $3,000 + ($60,000 ÷ 2) = $39,000

Therefore, the amount of the charitable contribution carry forward beyond the current year for Gina Hestopolis is $39,000.

6 0
3 years ago
What is the relationship between insurance and successful financial management? 1. Why is insurance important? 2. Consider your
tatiyna

Answer:

insurance is important in that it helps you indemnity the losses occured after the risk occurrence

Explanation:

insurance ensures that you are covered from all period and hazards

6 0
3 years ago
Suppose that two factors have been identified for the U.S. economy: the growth rate of industrial production, IP, and the inflat
Delicious77 [7]

Answer:

11.3%

Explanation:

Given that,

Growth rate of industrial production, IP = 4%

Inflation rate, IR = 3.0%

Beta = 1.1 on IP

Beta = 0.5 on IR

Rate of return = 7%

Before the changes in industrial production and inflation rate:

Rate of return = α + (Beta on IP) + (Beta on IR)

7% = α + (1.1 × 4%) + (0.5 × 3%)

7% = α + 4.4% + 1.5%

7% - 4.4% - 1.5% = α

1.1% = α

With the changes:

Rate of return:

= α + (Beta on IP) + (Beta on IR)

= 1.1% + (1.1 × 7%) + (0.5 × 5%)

= 1.1% + 7.7% + 2.5%

= 11.3%

Therefore, the revised estimate of the expected rate of return on the stock is 11.3%.

6 0
3 years ago
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