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Alborosie
3 years ago
7

Straight-Line Depreciation Irons Delivery Inc. purchased a new delivery truck for $42,000 on January 1, 2019. The truck is expec

ted to have a $2,020 residual value at the end of its 5-year useful life. Irons uses the straight-line method of depreciation. Required:
Business
1 answer:
Ket [755]3 years ago
5 0

Answer:

Annual depreciation= $7,996

Explanation:

Giving the following information:

Purchase price= $42,000

Useful life= 5 years

Salvage value= $2,020

<u>To calculate the annual depreciation under the straight-line method, we need to use the following formula:</u>

Annual depreciation= (original cost - salvage value)/estimated life (years)

Annual depreciation= (42,000 - 2,020) / 5

Annual depreciation= $7,996

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The following is selected financial information for Osmond Dental Laboratories for 2021 and 2022: 2021 2022 Retained earnings, J
Anettt [7]

Answer:

Explanation:

The statement of stockholder's equity comprises common stock and retained earnings. The ending balance after adjustment shown in the attached spreadsheet.  

The ending balance of retained earning = Beginning balance of retained earnings + net income - dividend paid

= $52,000 + $34,000 - $12,000

= $74,000

And, the ending balance of the common stock = Beginning balance of common stock + issued shares  

= $71,000 + $20,000

= $91,000

The preparation of the statement of stockholders’ equity is presented in the spreadsheet. Kindly find the attachment below:

6 0
3 years ago
12. Provide five benefits of having a budget.
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Answer:

Planning orientation

Profitability review

Assumptions review

Performance evaluations

Funding planning

Explanation:

5 0
2 years ago
Read 2 more answers
Approximately how much of what employees know about their work is attributable to formal organizational training?
sesenic [268]

Options: A. 70% B.30% C.10% D.50%

Answer:10%

Explanation:Formal training is a type of training program conducted by formal Organisations where the employees are assembled in a classroom and are trained by professionals.

Most of the trainings taking place in Organisations are informal which doe not require any classroom activities,informal trainings are trainings which are that does not require any proper or well laid down procedures they are usually done ON THE JOB, or through APPRENTICESHIP etc.

5 0
3 years ago
The basketball season is about to start, and the owners of the Red Lions team want to advertise that fact in their home metropol
enot [183]

Answer:

$96.47

Explanation:

The Cost per thousand (CPM)  refers to the cost of a media used in reaching 1,000 members of an audience. The M in CPM is the Roman numeral for 1,000.

The formula for cost per thousand (CPM) is:

CPM = (Cost of 1 Unit of a Media Program) ÷ (Size of Media Program's Audience) x 1,000

Cost of 1 Unit of a Media Program (Cost of the ad) = $82,000

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Therefore:

CPM = (82000 ÷ 850000) X 1000

        =$96.47

6 0
3 years ago
When common stock is issued by a corporation for a cash price above par value, the excess of the cash proceeds over the par valu
shutvik [7]

Answer: d. Total contributed capital on the balance sheet

Explanation:

When Common stock is issued this is known as a Paid-In Capital. If there is an excess over the par value, this will be an additional amount and so will be recorded in the Additional Paid-In Capital account.

This account is on the Equity side of the balance sheet and will form part of the capital contribution to the company because it was given to the company by shareholders.

8 0
3 years ago
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