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MAXImum [283]
3 years ago
5

Gordon Chemicals Company acquires a delivery truck at a cost of $35,400 on January 1, 2017. The truck is expected to have a salv

age value of $3,900 at the end of its 4-year useful life. Compute annual depreciation for the first and second years using the straight-line method. (Round answers to 0 decimal places, e.g. 125.) First Year Second Year Annual depreciation under straight-line method
Business
1 answer:
lara31 [8.8K]3 years ago
7 0

Answer: $7,875 per year for each of the first two years.

Explanation: The method to calculate the amount of depreciation using the straight line method is to subtract the salvage price from the purchase price and then divide it by the numbers of years in its useful life.

($35,400 - 3,900)/4 = $31.500 / 4 = $7,875 per year

$7,875 is the amount of depreciation for each year of the four years of the truck’s useful life.

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The following information pertains to Pernell Company's pension plan. Beginning PBO: $500,000; current service cost $50,000; dis
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= $560,000

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Given that:

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So the ending balance of the PBO will be:

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