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MAXImum [283]
2 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]2 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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Connie, a single mother and home-business entrepreneur, enjoys running her own business. However, because she is busy balancing
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Eli and Marilyn ask Gracie to be the administrator of their will and the guardian of their children if they pass away before the
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3 years ago
What is 2×78 please help​
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3 0
2 years ago
Which budget or budget type should be used to meet the following​ needs? a. Upper management is planning for the next five years
Simora [160]

Answer:

a. A Strategic budget will be used by the upper management in planning for the next five years.

b. A flexible budget will be used by a store manager who wants to plan for different levels of sales.

c. A Cash budget will be used by an accountant who wants to determine whether the company has sufficient funds to cover expenses.

a. A Master Budget will be used by a CEO who wants to make companywide plans for the next year.

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  • Strategic budget, is finnancial planing to achieve the long term goals of the company.
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