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On January 1, Year 1, Marino Moving Company paid $48,000 cash to purchase a truck. The truck was expected to have a four useful

Ymorist [56]

Answer:

$10,000

Explanation:

Depreciation is charged to every asset based on the life and usage of such asset.

Straight line depreciation method charges equivalent depreciation each year of the useful life of the asset.

Here, as provided straight line depreciation = $\frac{Cost\ of\ asset\ - Salvage\ value}{Life\ of\ asset}$

Here, cost of asset = $48,000

Salvage value = $8,000

Thus, numerator in fraction = $48,000 - $8,000 = $40,000

Useful life of the asset = 4 years

Therefore, depreciation expense for each year = $\frac{40,000}{4\ years} = 10,000$

It will be same for each year, therefore, depreciation expense for year 2 = $10,000

3 0

3 years ago

Which political system favors an economic structure in which the means of production are owned and monitored by the government?

Snezhnost [94]

A communism political system favors an economic structure in which means of production are owned and monitored by the government. A communist economy means that the government will control the majority of factors centered around production. They will determine where resources should be used and what type of goods and services will be produced.

7 0

4 years ago

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Your college bookstore is responsible for the gathering, sorting, and dispersing of books required for a literature course on ca

Nataly [62]

The function of gathering, sorting, and dispersing books required for a literature course by the college bookstore is an example of b. logistical functions that intermediaries perform.

The bookstore is an intermediary between the students (customers) and the publishers (suppliers) of the literature book. The bookstore is not performing a transactional, transitional, or facilitating function.

Thus, the college bookstore performs a logistical function by managing the inventory, transportation, and warehousing needs of the college.

Learn more:brainly.com/question/18686811

5 0

3 years ago

Speedy Package is California's largest express transportation company. In addition to the largest fleet of all-cargo aircraft in

tia_tia [17]

Answer:

Date General Journal Debit Credit

Cash $15,400

Accumulated Depreciation $39,600

Equipment - Delivery truck $55,000

(Assuming the truck was sold for $15,400 cash)

Cash $16,500

Accumulated Depreciation $39,600

Gain on sale $1,100

Equipment - Delivery truck $55,000

(Assuming the truck was sold for $16,500 cash)

Cash $12,700

Accumulated Depreciation $39,600

Loss on sale $2,700

Equipment - Delivery truck $55,000

(Assuming the truck was sold for $12,700 cash)

4 0

2 years ago

High school is referred to as _____ education.

Vanyuwa [196]

Answer:

secondary

Explanation:

as 10 class is rrferred to as secondary education

plz folliw me

3 0

3 years ago

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