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Blizzard [7]
3 years ago
13

A truck costs $9,000 with a residual value of $1,000. the truck is expected to have a useful life of 40,000 miles. By assuming t

he truck is driven 10,000 miles the first year, the depreciation expense would be:
Business
1 answer:
slavikrds [6]3 years ago
7 0

Answer:

$2,000

Explanation:

Cost of truck =  $9,000

Residual value =  $1,000

Value to be depreciated =  $9,000 -  $1,000

                                        =  $8,000

if the truck has a useful life of 40,000 miles and 10,000 miles is covered in the first year,

Depreciation expense for the first year = (10000/40000) ×  $8,000

                                                 =  $2,000

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6 0
3 years ago
Wildhorse Corp. has total current assets of $12,152,000, current liabilities of $5,849,000, and a quick ratio of 0.94. How much
White raven [17]

Answer:

Wildhorse Corp. has inventory of $6,653,940

Explanation:

The quick ratio is a liquidity ratio that indicates a company's ability to pay its current liabilities when they come due without needing to sell its inventory or get additional financing. The quick ratio is calculated by the following formula:

Quick ratio = (Cash & equivalents + Short Term investments + Accounts receivable)/Current Liabilities

(Cash & equivalents + Short Term investments + Accounts receivable) = Quick ratio x Current Liabilities = 0.94 x $5,849,000 = $5,498,060

Inventory = Total current assets - (Cash & equivalents + Short Term investments + Accounts receivable) = $12,152,000 - $5,498,060 = $6,653,940

4 0
3 years ago
A company desires to sell a sufficient quantity of products to earn a profit of $400,000. If the unit sales price is $20, unit v
Amanda [17]

Answer:

Number of units to be sold = 150000

So option (b) is correct option

Explanation:

We have given net income = $400000

Unit sales price = $20

Unit variable cost= $12

Total fixed cost $800000

Units must be sold to earn net income of $400,000 =

=profit+\frac{total\ fixed\ cost}{sale\ price}-ubit\ variable\ cost=400000+\frac{800000}{20}-12=150000units

So number of units to be sold = 150000

So option (b) is correct option

3 0
3 years ago
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Here, the United States has finally decided to eliminates its import quotas on Costa Rican sugar. This will further allow the producer in Costa Rica to export more quantity of this commodity.

8 0
3 years ago
What is a beneficiary? Question 50 options: The person who files insurance claims on your behalf The person who determines wheth
Zina [86]
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6 0
3 years ago
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