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Marianna [84]
3 years ago
14

​Gulfcoast, Inc. purchased a van on January​ 1, 2019, for $ 900 comma 000. Estimated life of the van was five​ years, and its es

timated residual value was $ 101 comma 000. Gulfcoast uses the straightminusline method of depreciation. Calculate the book value of the van at the end of 2019.
Business
1 answer:
Zarrin [17]3 years ago
4 0

Answer:

$740,200

Explanation:

Depreciation is the systematic allocation of the cost of an asset to the income statement over the estimated useful life of that asset.

It is determined as the depreciable value of the asset over the estimated useful life of the asset where the depreciable value is the difference between the cost and salvage value of the asset

Mathematically,  

Depreciation = (Cost - Salvage value)/Estimated useful life

Depreciation = (900,000 - 101,000)/5

= $159,800

Book value is the cost net accumulated depreciation

= $900,000 - $159,800

= $740,200

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3 years ago
(a) (i) Define the term "Green Revolution" as used during the period 1945 to 1985. (ii) Explain the principal agricultural pract
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Answer:

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(ii) Explain the principal agricultural practices/technologies associated with the green revolution.

  • extensive use of fertilizers, pesticides, genetically modified seeds and mechanical machinery.  

(iii) Name TWO regions, in different parts of the world, where the green revolution has had a significant impact on crop yields.

  • In North America, Mexican food production increased and they stopped importing food. Although currently that has reversed, and it is importing even more food than before.
  • In Brazil, agricultural production increased dramatically. Both total farmed area and yields have continued to increase in the past years becoming a threat to the amazon basin.

(b) Identify and discuss TWO social, political, or cultural conditions necessary for the success of the agricultural practices/technologies of the green revolution.

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3 years ago
You are an insurance salesman. If you make 12% on all insurance sales and sold an average $35,000 / month, how much money did yo
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$50,400

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