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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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Software Solutions was hired by Jones Company on December 1 to install and updated software. The total entire amount of $1,800 i
Talja [164]

Answer:

Software solutions was hired to install and update software.

When job was completed,

Total revenue paid by Jones company = $1,800

As of December 31,

software installation completed = 1/2

Service revenue = 0.5 × $1,800

                            = $900

Therefore, the adjusted journal entry for the revenue is as follows:

On 31st December,

Accounts receivable A/c      Dr. $900

To Service revenue                               $900

(To record revenue earned)

8 0
2 years ago
Which of these effects of expansionary spending would a government most want to avoid?
lina2011 [118]

Answer: B.) Higher inflation on Ed2020

Explanation:

higher inflation growth in production growth in consumer spending.

5 0
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How would you engage a customer who is looking for a specific brand of headphones, e.g., Apple AirPods
MrRissso [65]

Answer:

By informative communication

Explanation:

In simple words, if any customer has a particular brand in his or her mind while shopping then the best to way to interact with hem is to support their desire and inform them as much as you can for their product. By doing so you indulge them in a mutual relationship and they will be fully engaged in the process. After that one can offer them other products of different brands.

7 0
2 years ago
Suppose the price elasticity of supply for gasoline in the short run is estimated to be 0.4. Due to an unexpected surge in the d
oee [108]

Answer:

8%

Explanation:

The formula and the computation of the price elasticity of supply is shown below:

Price elasticity of supply = (Percentage change in quantity supplied ÷ percentage change in price)

where,

Price elasticity of supply = 0.4

And, the percentage change in price = 20%

So, the percentage change in quantity supplied is

= Price elasticity of supply × the percentage change in price

= 0.4 × 20%

= 8%

It shows a direct relationship between the quantity supplied and the price.

6 0
3 years ago
On November 1, year 1, Jamie (who is single) purchased and moved into her principal residence. In the early part of year 2, Jami
Setler [38]

Answer: $31,250

Explanation:

The amount from the gain that Jamie may exclude from her gross income in year 2 will be calculated thus:

= $250,000 × 3/24

= $31,250.

Therefore, Jamie may exclude $31,250 from the gross income in year 2.

Thanks

6 0
2 years ago
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