Answer: D. Income was lower by $1000 because of Depreciation expense
Explanation:
When preparing the Cashflow Statement using the Indirect method, Depreciation is added to the Net Income in the Operating Section.
This is because Depreciation is a non-cash expense that was removed from the revenue to calculate income. Now that the company wants to know how much actual cash it has, it will have to add back Depreciation because depreciation is not a cash expense so does not actually reduce the money the company has.
The straight line depreciation expense in 2022 is $1500.
The straight line depreciation expense in 2023 is $3000.
<h3>What is the depreciation expense in 2022 and 2023?</h3>
The striaght line depreciation method spreads out the depreciation expense equally over the useful life of the project.
Straight line depreciation expense = (Cost of asset - Salvage value) / useful life
($32,000 - $4,000) / 8 = $3000
The depreciation expense each year would be $3000 except in 2022 when the truck was used for 6 months.
Depreciation expense in 2022 = 6/12(3000) = $1500
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The strength of the U.S. dollar relative to other currencies depends mainly on the performance of the U.S. economy relative to other economies.
The nominal GDP and net worth of the entire world are held by the United States, which has a highly developed mixed-market economy. After China, it has the second-largest economy in terms of purchasing power parity (PPP). As of 2022, its nominal and PPP per capita GDP ranks eighth and seventh, respectively, in the world. In 2022, the US's PPP share of the world economy will be 15.78%. The world's most innovative and technologically advanced economy is found in the United States. The technological advancements made by its businesses, particularly in artificial intelligence, computers, pharmaceuticals, and medical, aeronautical, and military equipment, are at the forefront or very close to it. The U.S. dollar, which is supported by its robust economy, stable government, and strong military, is the currency that is most frequently used in international transactions and is the world's most important reserve currency.
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Answer:
The demand curve would be a downward straight line graph.
Explanation:
This type of curve is referred to as inelastic demand curve because the decrease in price would not result to an increase in quantity purchased as explained by the question. Majority of the reservation, precisely 25 people from the question are willing to pay reservation proce of 500 as compared to one person whose reservation is different.