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tekilochka [14]
3 years ago
13

On January​ 1, 2018​, Alaska Freight Airlines purchased a used airplane for $ 44 comma 000 comma 000. Alaska Freight Airlines ex

pects the plane to remain useful for five years ​(4 comma 000 comma 000 ​miles) and to have a residual value of $ 4 comma 000 comma 000. The company expects the plane to be flown 1 comma 100 comma 000 miles the first year. Read the requirementsLOADING.... Requirement 1a. Compute Alaska Freight Airlines​'s ​first-year depreciation expense on the plane using the​ straight-line method. Begin by selecting the formula to calculate the​ company's first-year depreciation expense on the plane using the​ straight-line method. Then enter the amounts and calculate the depreciation for the first year.
Business
1 answer:
steposvetlana [31]3 years ago
6 0

Answer:

The depreciation expense for the first year is $8,000,000

Explanation:

Depreciation: The depreciation is an expense which reduce the value of the fixed assets due to tear and wear, usage, obsolesce, etc. It is shown under the income statement in the debit side and the accumulated depreciation would be shown in the asset side of the balance sheet. It is deducted from the ending value of the fixed assets.

The formula to compute the depreciation expense under straight line method is shown below:

= \dfrac{(original\ cost-salvage\ value)}{(useful\ life)}

= \dfrac{(\$ 44,000,000-\$ 4,000,000)}{(4\ years)}

= $8,000,000

In straight line method, the depreciation expense would remain same over the useful life i.e 4 years.

And, we do not consider the miles so we ignored it.

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<span>Given data shows that $1000 as salvage value and purchased computer for $8000 Depreciation was: (8,000 - 1,000) / 5 = 1,400 per year. Two year's depreciation = 2,800 Book value after two years = 8,000 - 2,800 = 5,200 After the estimates are revised, there are two more years remaining with a salvage value of 500. (5,200 - 500) / 2 = 2,350 depreciation for 2018</span>
4 0
3 years ago
In an effort to raise more tax revenue from the upper class, the government decides to impose a new tax on luxury goods like yac
statuscvo [17]

Answer:

The correct answer is A. A secondary effect of an increase on yacht tax rates would be the laying off of hundreds of poor and middle-class yacht makers as the wealthy spend their money elsewhere.

Explanation:

The tax increase of a certain product necessarily increases the final price of that product, that is, when the tax rate is raised, the amount of money necessary to buy said good rises.

In turn, according to the law of demand, the higher the price, the lower the quantity demanded of the product. In other words, this tax increase would produce a drop in the demand for yachts.

If demand falls, the income of producers and sellers of the product falls. This is where production is affected, since small and medium producers will have greater difficulties to cope with the drop in sales, often incurring losses that would lead to having to close the business.

3 0
3 years ago
Rob, Bill, and Steve form Big Company. Rob performs $45,000 of services for his 45 shares of the company. Bill transferred prope
Mandarinka [93]

Answer:

Rob and Bill.

Explanation:

6 0
3 years ago
Isaac holds one ton of perishable fruit in storage for Juice Smoothies Corporation. Juice Smoothies does not pay for the storage
FrozenT [24]

Answer:

The correct answer is option b.

Explanation:

Here, when the Juice smoothies does not pay Issac, the selling of fruits is an example of mitigation of damages.

Mitigation of damages can be referred as a contract law under which a victim of breach of law can take actions in order to minimize damages. It means to take any reasonable opportunity possible under the given circumstances to minimize or reduce damages. Though taking extreme actions is not required.

7 0
3 years ago
One of the most challenging tasks for any firm, including In Fine Fettle, is determining how much to spend on promotion. Four ba
Montano1993 [528]

Answer:

A) the affordable method,

In Fine Fettle's management reviews what it is trying to achieve with promotion and sets the budget based on anticipated expenses.

B) the percentage-of-sales method,

In Fine Fettle's management reviews its forecasted sales volume for the turmeric bar and sets is promotional budget at $150,000.

C) the competitive-parity method,

In Fine Fettle looks at its competitors and finds that their average promotional spending ranges from $100,000 to $250,000. Therefore, the promotional budget is set at $200,000.

D) the objective-and-task method.

In Fine Fettle's management reviews its revenues and expenses and allocates promotional spending based on what management believes it has to spend

Explanation:

A) is deciding the promotion expense considering how much can afford based on the expenses budget

B) determninate the promotion based on a percentage of expected sales

C) the company will look at their competitors promotion expense and try to keep up with that level to avoid being left behind

D) management will determinate on a monthly/ weekly basis where and how much to promote

8 0
4 years ago
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