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Levart [38]
3 years ago
12

Natalie is thinking of buying a van that will be used only for business. The cost of the van is estimated at $36,500. Natalie wo

uld spend an additional $2,500 to have the van painted. In addition, she wants the back seat of the van removed so that she will have lots of room to transport her mixer inventory as well as her baking supplies. The cost of taking out the back seat and installing shelving units is estimated at $1,500. She expects the van to last about 5 years, and she expects to drive it for 200,000 miles. The annual cost of vehicle insurance will be $2,400. Natalie estimates that at the end of the 5-year useful life the van will sell for $7,500. Assume that she will buy the van on August 15, 2017, and it will be ready for use on September 1, 2017. Natalie is concerned about the impact of the van’s cost on her income statement and balance sheet. She has come to you for advice on calculating the van’s depreciation. Prepare three depreciation tables for 2017, 2018 and 2019: one for straight-line depreciation , one for double-declining balance depreciation, and one for units-of-activity depreciation. For units-of-activity, Natalie estimates she will drive the van as follows: 15,000 miles in 2017; 45,000 miles in 2018; 50,000 miles in 2019; 50,000 miles in 2020; and 40,000 miles in 2021. Recall that Cookie Creations has a December 31 year-end.
Double-declining-balance depreciation: What is just the NBV (Beg. of Year) for 2017, 2018, and 2019?
Business
1 answer:
Lera25 [3.4K]3 years ago
3 0

Answer

The answer and procedures of the exercise are attached in the following archives.

Step-by-step explanation:

You will find the procedures, formulas or necessary explanations in the archive attached below. If you have any question ask and I will aclare your doubts kindly.  

Download xlsx
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suggest one strategy businesses can use to deal with each of the following socio economic issues : illiteracy , dumping and inef
sergiy2304 [10]

Answer:

Workshop and seminars

Reward for innovation

Explanation:

To deal with the issue of illiteracy in the society, all that needs to be done is to educate the masses and ensure the need to know and learn is both important and enticing. Hence, business could come in with educational setups which could be free or highly discounted and at the same time rewarding. This way knowlwege could be acquired and afforded by the low earners and at the same time reap huge rewards for their efforts.

Dumping and inefficient use of resources can define rely be curtailed by recycling, the reuse of waste and used products. Recycling process usually takes careful study to ascertain that various waste materials could actually form important raw materials in the manufacture of other new products. These innovations should be prioritized and rewarded.

6 0
3 years ago
Janice wants to sell her townhome, and her neighbor is considering buying it. While waiting to find out if her neighbor is going
Finger [1]

Answer:

An exclusive agency agreement will save Janice the cost of a commission.

Explanation:

An exclusive agency is an agreement between a seller and a real estate agent which grants the agent the right to be the only authorized agent to market and sell a property. However, the seller retains the right to sell the property independently of the agent, in which case, no commission is payable to the agent.

In the given scenario, Janice wants to market her home and receive the best representation possible. Hence, she requires the services of an agent in order to do so. However, Janice would want to retain the right to be able to sell the property on her own. This way, if her neighbor does ultimately decide to buy the property, Janice can simply sell it to the neighbor without having to pay any commission to her agent.  

8 0
3 years ago
In markets where the government imposes an excise tax on unit sales, it also has a tendency to dabble with restrictions on adver
oksian1 [2.3K]

Answer:

I am sorry I don't know sorry again

7 0
3 years ago
Melissa is a minor who agrees to purchase a car from Umberto for $10,000 one month after she turns eighteen years of age. On tur
BartSMP [9]

Answer:

enforceable because it has been expressly ratified by Melissa.

Explanation:

A contract is defined as a legally binding agreement between parties, and is enforceable on both parties involved. There is usually an offer and acceptance to make the contract valid and enforceable. It can involve exchange of goods and services, or future promise to exchange goods and services.

In this instance bMelinda agreed with Umberto that she will buy a car from him when she turns 18 years. The condition to the contract was Melinda turning 18 years.

She has ratified this condition so the contract is now enforceable.

7 0
3 years ago
On January 1, 2021, Everglade Company purchased the following debt securities and properly accounted for them as securities avai
hammer [34]

Answer:

Unrealized gain = $12,000

Explanation:

Security    Cost A     Fair value B    Unrealized amount (B-A)

ABC          $40,000    $55,000                 $15,000

DEF           $72,000    $65,000                -$7,000

XYZ           $16,000     $20,000                 <u>$4,000</u>

                                                        Total    <u>$12,000</u>

So, the unrealized gain to be recorded is $12,000

4 0
3 years ago
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