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
iris [78.8K]
3 years ago
13

Company acquired a new truck at at cost of $52,000 on January 1, 2019. The truck is expected to be used for 4 years and have a s

alvage value of $8,000 at that time. The company uses the straight-line method to calculate depreciation. #1. Calculate depreciation expense for 2019 #2 Calculate depreciation expense for 2020 #3 Calculate accumulated depreciation as of 12/31/2019 #4 Calculate accumulated depreciation as of 12/31/2020 #5 Calculate the book value as of 12/31/2020
Business
1 answer:
AfilCa [17]3 years ago
3 0

Answer and Explanation:

The computation is shown below:

= (Original cost - residual value) ÷ (useful life)

= ($52,000 - $8,000) ÷ (4 years)

= ($44000) ÷ (4 years)  

= $11,000

In this method, the depreciation is same for all the remaining useful life

a. The depreciation expense for 2019 is $11,000

b.  The depreciation expense for 2020 is $11,000

c. The accumulated depreciation for year 2019 is $11,000

d. The accumulated depreciation for year 2020 is $22,000 ($11,000 + $11,000)

e. The book value is

= Original cost - accumulated depreciation

= $52,000 - $22,000

= $30,000

You might be interested in
A specific reduction in government spending will dampen demand-pull inflation by a greater amount the: 
A. Smaller is the econom
lina2011 [118]

Answer:

The correct answer is option C.

Explanation:

A reduction in spending is going to reduce the income of the consumers in the economy. The consumers do not spend all their income but save it partially. The saving is used to create funds which are invested again and lead to increase in output. The rate of consumption depends on the marginal propensity to consume and marginal propensity to save. The marginal propensity to save is 1-MPC. Smaller MPS will cause saving to be less, consequently investment will also be lower.

So, a reduction in the government spending will be more effective in curbing demand-pull inflation if the marginal propensity to consume is higher and marginal propensity to save is smaller.

5 0
3 years ago
Quest Outdoor Store orders River Run-brand kayaks from Sports Merchandise, Inc. Sports Merchandise ships kayaks of the wrong siz
Sidana [21]

Answer:

Sports Merchandise

Explanation:

According to the situation that has been described in the question it can be said that the loss is suffered by Sports Merchandise. This is because a the seller of a good or product is liable for that product until the buyer purchases the product and decides to keep it. Which in this scenario since Sports Merchandise made a mistake on the product size and Quest decided not to accept the product then the responsibility and risk of loss remained with Sports Merchandise as the owner of the product.

5 0
3 years ago
A firm has adopted a policy whereby it will not seek any additional external financing. Given this, what is the maximum growth r
dlinn [17]

Answer:

9%

Explanation:

Given:

The net income = $12,000

Total equity = $40,000

Total assets = $80,000

Dividend payout ratio = 40%

Now,

Internal rate of return, r = \frac{\textup{Net Income}}{\textup{Total Equity}}\times100\%

or

Internal rate of return, r = \frac{\textup{12,000}}{\textup{80,000}}\times100\%

or  

Internal rate of return, r = 15%

and,

Retention ratio = 1 - Dividend payout ratio

= 1 - 0.40

= 0.60 or 60%

Now,

Growth rate = Retention ratio × Internal rate of return

or

Growth rate = 0.60 × 0.15

or

Growth rate = 0.09

or

Growth rate = 9%

7 0
3 years ago
Purchases Journal The following purchase transactions occurred during March for Rehoboth, Inc.:
gtnhenbr [62]

Answer:

See the explanation section.

Explanation:

Mar. 4    Cleaning supplies debit = $77

Accounts payable - Health-Rite Supplies credit = $77

<em>To record the purchase of supplies.</em>

Mar. 19   Office equipment Debit = $3,750

Accounts payable - office Warehouse Credit = $3,750

<em>To record the purchase of office equipment on account.</em>

Mar. 23   Cleaning supplies Debit = $224

Accounts payable - Rubble Supplies Credit = $224

<em>To record the purchase of supplies.</em>

3 0
3 years ago
Please answer asap NO LINK PLS
Fynjy0 [20]
Thanks you for helping me with the link
8 0
2 years ago
Other questions:
  • Otool Inc. is considering using stocks of an old raw material in a special project. The special project would require all 150 ki
    6·1 answer
  • The Donaldson Furniture Company produces three types of rocking​ chairs: the​ children's model, the standard​ model, and the exe
    11·1 answer
  • A professional gambler moves from a state where gambling is illegal to a state where gam-bling is legal. Most of his income was,
    12·1 answer
  • During the norming stage of team development, team members: try to establish a favorable role for themselves on the team. meet e
    9·1 answer
  • Based on the industry-low, industry-average, and industry-high values for the benchmarked data on p. 7 of the FIR, which one of
    8·1 answer
  • Jacob Corcoran bought 10,000 shares of Grebe Corporation stock two years ago for $24,000. Last year, Jacob received a nontaxable
    13·1 answer
  • Waterway Frame Camera Shop uses the lower-of-cost-or-net realizable value basis for its inventory. The following data are availa
    15·1 answer
  • Which of the following is the lowest priority of claims in bankruptcy?
    14·2 answers
  • Alex and J.J. Both apply for two job openings in the same department at a law firm in Chicago. They both interview very well and
    15·1 answer
  • E-Eyes Bank just issued some new preferred stock. The issue will pay a $9 annual dividend in perpetuity, beginning 6 years from
    12·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!