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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
If you were responsible for marketing communications at a company that manufactures office supplies and had to provide product l
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back translation

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3 years ago
Asif, a member of a local baseball team, broke his bat during a practice match. With the final match scheduled for the next day,
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Economists define potential income as the level of income that: Group of answer choices an economy is capable of producing witho
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Answer:

an economy is capable of sustaining or producing without generating higher inflation.              

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In simple words, potential economy refers to that level of output or GDP that an economy can produce and sustain over  along term with its given level of inflation and resources available.

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Provide an outline of the material and how it will be presented.

is the correct answer .

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