1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
iren2701 [21]
2 years ago
12

Gordon Chemicals Company acquires a delivery truck at a cost of $31,000 on January 1, 2017. The truck is expected to have a salv

age value of $2,000 at the end of its 5-year useful life. Assuming the declining-balance depreciation rate is double the straight-line rate, compute annual depreciation for the first and second years under the declining-balance method.
Business
1 answer:
finlep [7]2 years ago
5 0

Answer:

First Year Depreciation: 12,400

Second Year Depreciation: 7,440

Explanation:

straight-line depreciation \times 2 = \frac{1}{5} \times 2 = \frac{2}{5}

\left[\begin{array}{ccccc}Year&Beginning\:Book&Dep \:Expense&Acc\:Dep&Ending\:Book\\0&-&-&-&31000\\1&31000&12400&12400&18600\\2&18600&7440&19840&11160\\3&11160&4464&24304&6696\\4&6696&2678.4&26982.4&4017.6\\5&4017.6&2017.6&29000&2000\end{array}\right]

To calculate each period depreciation we multiply the book value by the double-declining rate of 2/5

At the last year, you will depreciate until salvage value is reached.

You might be interested in
Bob inspires his employees to follow a vision, facilitates change, and creates a strongly positive climate, all while stressing
Lady bird [3.3K]

Bob inspires his employees to follow a vision, facilitates change, and creates a strongly positive climate, all while stressing performance. Bob has helped to create a(n) caring/civilized culture.

Explanation:

  • Bob inspires his employees to follow a vision, facilitates change, and creates a strongly positive climate, all while stressing performance. Bob has helped to create a(n) caring/civilized culture.
  • Developing a caring culture
  • Be optimistic and upfront to your goals.
  • Focus on strengths, not weaknesses
  • It’s the result of deliberate executive that promotes a civilized cultural environment.
  • Developing a caring culture starts with a few initial steps that aims at building the priorities of members to establish a dream team.
4 0
3 years ago
Cadence calls are critical to a functioning CPFR relationship.
Andreas93 [3]

Answer:Cadence calls often occur at a set time each week or month

Explanation:

It's a follow up call or activities on customers who have shown interest in the firm products either on advertised platforms or other channels.

5 0
3 years ago
Which country use tax brackets as a part of their tax system
konstantin123 [22]
Canada, Australia, and South Africa use tax brackets.
8 0
3 years ago
Read 2 more answers
Why was steel important to the second industrial revolution?
dlinn [17]
Steel was important to the second industrial revolution majorly because of its properties and its potential uses. Because steel is very strong, light and cheap, it was found ideal for many purposes. Steel was used to make many of the new inventions that characterized that period, a good example of this is rail road.
6 0
3 years ago
Caroline, the manager of a jewelry store, conducts statewide market research and collects data on customer preferences toward va
Brrunno [24]
Caroline will most likely be performing the prescriptive role of marketing research. Prescriptive analytics are known for processes data from their findings and using it to better suit the company in marketing tactics. Then they are able to present it to their team and in this situation, know which items are top sellers and which aren't. Caroline will use this data to determine what customers are attracted to, what they buy and how she can bring in more revenue to the jewelry store she manages. 
7 0
2 years ago
Other questions:
  • Potential founders assess their additional skills and they tailor their business to their
    7·1 answer
  • For which persons may a taxpayer deduct medical expenses?
    13·1 answer
  • Alex is at the hardware store comparing different types of piping for a repair in his home kitchen. He can choose between copper
    6·2 answers
  • Multiple Choice Question The following selected information pertains to Wilson Company. Current liabilities: $100; long-term lia
    8·1 answer
  • describe a career you would like to have, and explain how you could get started and then advance in that career.
    6·2 answers
  • A sales associate has a house listed at $200,000. It's overpriced and he feels it has only a 70% chance of selling in the origin
    9·1 answer
  • When managers resist the temptation to act in their own self-interest, they reinforce ethical ______.
    5·1 answer
  • A comparable property showed adjusted value of $40,000. The property sold two years ago, and the adjustments indicated a 7% annu
    5·1 answer
  • If a company can use 100% of its
    13·1 answer
  • Think of an example of a time that you experienced or that you heard about when consumer perception influenced demand. What were
    14·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!