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
solniwko [45]
3 years ago
9

On January 1, Year 1, Marino Moving Company paid $48,000 cash to purchase a truck. The truck was expected to have a four useful

life and an $8,000 salvage value. If Marino uses the straight-line method, the amount of depreciation expense recognized on the Year 2 income statement is:
Business
1 answer:
Ymorist [56]3 years ago
3 0

Answer:

$10,000

Explanation:

Depreciation is charged to every asset based on the life and usage of such asset.

Straight line depreciation method charges equivalent depreciation each year of the useful life of the asset.

Here, as provided straight line depreciation = \frac{Cost\ of\ asset\ - Salvage\ value}{Life\ of\ asset}

Here, cost of asset = $48,000

Salvage value = $8,000

Thus, numerator in fraction = $48,000 - $8,000 = $40,000

Useful life of the asset = 4 years

Therefore, depreciation expense for each year = \frac{40,000}{4\ years} = 10,000

It will be same for each year, therefore, depreciation expense for year 2 = $10,000

You might be interested in
__________ is credited with being the first restaurant to franchise.
Mazyrski [523]
During 1850,Frederick Henry Harvey is the one founded the first restaurant chain in the U.S. The first of the Harvey House restaurants opened in 1876, in a terminal of the Atchison, Topeka & Santa Fe Railroad. In 1887, there was a Harvey House restaurant in every 100 miles along the 12,000‑mile‑long Atchison, Topeka & Santa Fe line. He strongly believe that quality control established is the reason why regular field visits to his restaurants, and provided services similar to those used today by franchisors
3 0
3 years ago
Brush Industries reports the following information for May: Sales $ 980,000 Fixed cost of goods sold 116,000 Variable cost of go
Roman55 [17]

Answer:

Net operating income= 341,000

Explanation:

We need to use the following structure:

Gross profit= sales - cost of goods sold

Net operating income= Gross profit - other expenses (variable and fixed)

<u>Under the absorption costing method, the cost of goods sold incorporates the fixed overhead.</u>

Sales= 980,000

COGS= (116,000 + 266,000)= (382,000)

Gross profit= 598,000

Fixed selling and administrative costs= (116,000)

Variable selling and administrative costs= (141,000)

Net operating income= 341,000

8 0
3 years ago
A(n) _____ is a business that is based primarily in a single country but acquires some meaningful share of its resources or reve
NeTakaya

Answer: International business

Explanation:

 The international business is the term that is refers to the trade of the various types of products, technology and the services at international level.

The internal business encompasses all the activities as it is promoting the various types of ideas about the resources, products, revenue and the technologies across the international boundaries.

According to the given question, the international business is basically  acquired the various types of resources from the other countries easily and more efficiently.

Therefore, International business is the correct answer.  

3 0
3 years ago
Twenty years ago, you won a state lottery, and you received $15,000 at the end of each of the next 10 years, and $20,000 at the
oksian1 [2.3K]

The value of the amount won at the lottery at the end of 20 years is  $723,672.24.

<h3>What is the value at the end of 20 years?
</h3>

The formula for calculating future value of annuities is: yearly amount x annuity factor

Annuity factor = {[(1+r)^n] - 1} / r

Where:

  • r  = interest rate
  • n = number of years

Annuity factor for the first ten years = [(1.09^10) - 1] / 0.09 = 15.19293

15.19293 x $15,000 = $227,893.95

Annuity factor for the last 5 years = [(1.09^5) - 1] / 0.09 = 5.9847

5.9847 x 20,000 = $119,694.21

Future value of the lump sum of  $227,893.95 in 10 years =  $227,893.95 x (1.09^10) = 539,507.86

Future value of the lump sum of $119,694.21 in 5 years = $119,694.21 x (1.09^5) = $184,164.38

Value in year 20 =  $184,164.38 +  539,507.86 = $723,672.24

To learn more about annual annuities, please check: brainly.com/question/24108530

#SPJ1

4 0
2 years ago
Say that Alland can produce 32 units of food per person per year or 16 units of clothing per person per year, but Georgeland can
bixtya [17]

Answer:

Georgeland has an absolute but not a comparative advantage in producing clothing.

Explanation:

Absolute advantage is defined as the ability of a firm to produce higher amounts of a product as a result of use of the same resources with other competitors. It is usually bad a result of more efficient production process.

Comparative advantage is the ability of a firm to produce goods at a lower opportunity cost. Therefore they are able to sell at lower price compared to competitors.

Georgeland can produce 18 units of clothe per year while Alland can produce 16 units per year, so Georgeland has absolute advantage.

In producing clothes Georgeland has opportunity cost of 36 units of food which is higher than that of Alland which is 32 units of food. So Georgeland does not have comparative advantage in producing clothes.

3 0
3 years ago
Other questions:
  • Jin opens her meeting presentation by saying, "hello, i'm jin, and i will be talking with you about doing business in the countr
    10·1 answer
  • Novak Corp. reported net income of $1.20 million in 2022. Depreciation for the year was $192,000, accounts receivable decreased
    12·1 answer
  • For the past year, Kayla, Inc., has sales of $44,432, interest expense of $3,074, cost of goods sold of $14,909, selling and adm
    8·1 answer
  • Nick inherited $150,000, which he immediately invested into a fund that will earn 10% per annum. if interest is compounded semi-
    14·1 answer
  • An opportunity cost: Multiple Choice Is an unavoidable cost because it remains the same regardless of the alternativ
    9·1 answer
  • Merc Enterprise is an independent distributor that distributes coffee machines and water purifiers to firms on a large scale. In
    11·1 answer
  • Business activity monitoring called
    10·1 answer
  • If you were assigned to prepare a capital expenditure budget request, what two people would you most want to have on your team?
    14·1 answer
  • Unlike a general partnership, in a limited partnership
    5·1 answer
  • If the demand for product x is inelastic, a 15 percent decrease in the price of x will:____.
    6·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!