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Lynna [10]
3 years ago
6

Green Company purchases a truck for $30,000 on the first day of the year. Green Company uses straight-line depreciation and esti

mates the residual value on the truck to be $5,000. The truck's estimated service life is 5 years. What is the amount of depreciation expense for the first year the truck is in operation?
Business
1 answer:
SpyIntel [72]3 years ago
6 0

Answer:

$5,000

Explanation:

The depreciation by Green Company in respect of truck for the first year of operations shall be calculated using the following mentioned formula;

Depreciation for the year=  (Cost of asset-Residual value)/useful life

Cost of asset=$30,000

Residual value=$5,000

useful life=5

Depreciation for the year=($30,000-$5,000)/5=$5,000

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Astin Company has current assets of $82,530, total assets of $242,050, total net income of $58,240, current liabilities of $72,1
JulijaS [17]

Answer:

$10,410

Explanation:

Working capital is the difference between a company's current or short term assets and its current liabilities or short term obligations. It gives an insight as to how liquid an organization is.

Working capital = Current assets - current liabilities

= $82,530 - $72,120

= $10,410

Astin's Company's working capital is $10,410

8 0
3 years ago
Eric and Sharaveen Rush filed a claim alleging violations of the Fair Credit Reporting Act arising out of an allegedly erroneous
SVEN [57.7K]

Answer:

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Courts have lately ruled in favor people alleging that a bad credit report damaged them since a good credit rating is considered an intangible asset. The company that cause the mistakes are liable for any possible damages resulting from a poor credit rating.

8 0
3 years ago
In two to three sentences, explain why a small amount of inflation encourages economic growth. will give brainliest
mylen [45]

Answer:

A small amount of inflation can be really good for the economy. It can boost consumer demand and consumption. This encourages spending and investing.

4 0
3 years ago
The degree of pretax cash flow operating leverage at Rackit Corporation is 2.7 when it sells 100,000 units of its new tennis rac
coldgirl [10]

Answer:

the fixed costs for Rackit Corporation is $161,500.

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Cash Flow DOL = 1 + Fixed Cost / EBITDA

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Therefore, the fixed costs for Rackit Corporation is $161,500.

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Land's End allows customers buying shirts to choose from a variety of fabrics, types of collar and sleeve, based on the customer
antoniya [11.8K]

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6 0
3 years ago
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