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
Svetradugi [14.3K]
3 years ago
10

Cork Oak Corporation purchased a heavy-duty truck (not considered a passenger automobile for purposes of the listed property and

luxury automobile limitations) on May 1, 2019 for use in its business. The truck, with a cost basis of $24,000, has a 5-year estimated life. It also is 5-year recovery property. How much depreciation should be taken on the truck for the 2019 calendar tax year using the conventional (for financial accounting purposes) straight-line depreciation method?
Business
1 answer:
vlabodo [156]3 years ago
7 0

Answer:

$3200

Explanation:

The depreciation expense under the conventional straight line depreciation will be calculated using the following formula:

Straight-line Depreciation = (Cost - Scrap Value) / Useful Life

The useful life here is 5 years, cost is $24000 and scrap value is $0 which can be calculated using the following formula:

Straight-line Depreciation = ($24,000 - 0) / 5 Years = $4800 per year

This is for a year and we need  for the year end 31 December, 2019 for eight months.

The per month depreciation charge = $4800 / 12 = $400 per month

For 8 months = $400 * 8 months = $3200

You might be interested in
Technology does not necessarily result in better decisions, because the information produced may not support the information req
AlexFokin [52]

This is due to the fact copying digital data from one supply to any other does not require casting off the preceding copy.

Digital data/records commonly includes information that is created by, or prepared for, electronic systems and devices such as computers, screens, calculators, conversation devies and so on, and can be saved on those gadgets or in the Cloud.

<h3>How does digital statistics work?</h3>

When information is put into a digital form, it's converted into sequences of zeros and ones that can be interpreted by way of other computer systems. Digitizing statistics is the method of changing records into digital structure and is indispensable for a laptop to be able to manner and shop information.

Learn more about digital information here:

<h3>brainly.com/question/12620232</h3><h3 /><h3>#SPJ4</h3>

6 0
1 year ago
What is the value today of $4,400 per year, at a discount rate of 8.3 percent, if the first payment is received 6 years from tod
Pepsi [2]

Answer:

Present Value = $290.20

Explanation:

The present value of a future payment can be calculated with the following formula:

PV = FV / (1 + i)N

Where i is the annual interest rate or discount rate, and t is the number of years until the payment will be received.

PV = Present Value = ?

FV = Payment = $4,400

i = 8.3% = 0.083

N = 20 - 6 = 14

PV = $4400 / (1 + 0.083)(20 - 6)

PV = $4400 / (1.083 * 14)

PV = $4400 / 15.162

PV = $290.1992

Present Value = $290.20 (Approximated)

4 0
3 years ago
A company had the following partial list of account balances at year-end: Sales Returns and Allowances $ 1,000 Accounts Receivab
ArbitrLikvidat [17]

Answer:

$91,900

Explanation:

The computation of net sales revenue is shown below:-

Here, for reaching the net sales revenue we add the sales revenue and deduct the sales return and allowances with sales discounts

Net sales revenue = Sales Revenue - Sales Returns and Allowances - Sales Discounts

= $95,000 - $1,000 - $2,100

= $91,900

Therefore we have applied the above formula.

4 0
3 years ago
In which phase of the job search cycle will you write a thank-you letter to the company following your interview?
ikadub [295]

Answer:

c. Shine at Interviews

Explanation:

We write a thank-you letter to the company after shine at Interviews in order to follow up

6 0
3 years ago
According to the law of comparative advantage, both individuals and nations will be able to produce a larger joint output if eac
zzz [600]

Answer:

the low opportunity cost producer. 

Explanation:

A person or nation has comparative advantage in production if it produces at a lower opportunity cost when compared with other countries or people.

For example, let's assume country x produces either 10 Apples or 5 oranges in 1 hour while country y produces either 20 Apples or 2 oranges in one hour. The opportunity cost for country x of producing apples and oranges are 0.5 and 2 respectively. While for country y, the oopportunity cost of producing apples and oranges are 0.1 and 10 respectively.

Country y has an opportunity cost and comparative advantage in the production of Apples while country x has a comparative advantage in production of oranges.

I hope my answer helps you

5 0
3 years ago
Other questions:
  • What document is necessary to get through the security checkpoints at airports?
    5·1 answer
  • makes handheld calculators in two​ models: basic and professional. estimated of manufacturing overhead and machine hours for the
    15·1 answer
  • The largest organizational unit in the federal bureaucracy is a(n) __________. science forums
    12·2 answers
  • 1.2.5 Quiz: Different Ways to Play
    15·1 answer
  • With current technology, suppose a firm is producing 400 loaves of banana bread daily. Also assume that the least-cost combinati
    10·1 answer
  • On October 1, Gala Corporation has 300 units of Product XYZ on hand. The company plans to sell 1,200 units of Product XYZ during
    8·1 answer
  • Which of these statements represent ideas that Peter Drucker introduced in his book The Practice of Management? (select all that
    15·1 answer
  • What are the various forms of business organization? What are the advantages and disadvantages of each?
    11·1 answer
  • CODE: oqt-hkzd-hfa<br> Join the meet and my friends are in it so don't mind
    13·2 answers
  • Prepare the required end-of-period adjusting entries for each independent case listed below.
    10·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!