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ZanzabumX [31]
3 years ago
15

On October 1, 2019, Illini Company purchased a truck for $42,000. The truck is expected to have a salvage value of $3,000 at the

end of its 3-year useful life. If the company uses the straight-line method, the depreciation expense recorded during the year ending December 31, 2019, will be
Business
1 answer:
user100 [1]3 years ago
5 0

Answer:

$3,250.00

Explanation:

Cost price for the truck is $42,000

Salvage value for truck is $3000

Depreciable amount is cost price - salvage value

= $42,000 - $3000

=$39,000

The truck has three years of useful life:  depreciation per year will be

=$39,000/3

=$13,000

In 2019, the truck operated for three months, ( October, November, and December)

The amount of depreciation to be recorded in 2019

=$13,000/12 x 3

=$,083.3333333 x 3

=$3,250.00

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Reference possibilities could be

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8. Http.thelawdictionary.org for legal terms or the black law dictionary

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5 0
3 years ago
A manager who wishes to be successful in international business should avoid a(n) ________ attitude.
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Explanation:

6 0
2 years ago
Sally and Andy are partners in Just Hats, LLC. Andy works in the business for an agreed salary draw of $4,000 per month. Sally h
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Sally invested $200000 and Andy invested $100000, which means Andy's  investment is half of Sally's investment. So he will receive the half of what Sally will get.

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