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inn [45]
3 years ago
5

Sandhill Chemicals Company acquires a delivery truck at a cost of $30,800 on January 1, 2022. The truck is expected to have a sa

lvage value of $3,700 at the end of its 4-year useful life. Compute annual depreciation for the first and second years using the straight-line method.
Business
1 answer:
oksian1 [2.3K]3 years ago
3 0

Answer:

$6,775

Explanation:

The computation of the depreciation expense using the straight line method is shown below:

Straight-line method:

= (Original cost - residual value) ÷ (useful life)

= ($30,800 - $3,700) ÷ (4 years)

= ($27,100) ÷ (4 years)  

= $6,775

In this method, the depreciation is same for all the remaining useful life

Therefore, in the first and second year the same depreciation expense is to be charged i.e $6,775

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Andrew opened a fast-food restaurant on the corner of First and Main Streets in a small town. He named the restaurant The Hambur
schepotkina [342]

Answer:

Undifferentiated

Explanation:

Andrew has applied an undifferentiated marketing mix approach. The undifferentiated techniques is a type of marketing mix approach that centres around a whole target market. This procedure utilises a single marketing mix which consists of one item, one value, and one situation . This approach is initiated to attain maximum customers in a specific target market within a short spam of time.

7 0
3 years ago
Mahmoud wants to start a business making designer chairs. To do this he will need:​
prisoha [69]
Mahmoud will be needing many things such as. A loan of money , Maybe a wed site to spread him company so more people can see it and materials to build chairs such as wood , springs , foam.
4 0
3 years ago
A company purchased factory equipment on June 1, 2021, for $173000. It is estimated that the equipment will have a $8600 salvage
Mandarinka [93]

The amount to be recorded as depreciation expense on December 31, 2021, is (B) $9,590.

<h3>What is depreciation expense?</h3>
  • Depreciation expense is the cost of a depreciated asset for a specific period, and it reveals how much of the asset's value was used up in that year.
  • Accumulated depreciation is the entire amount of depreciation expense given to an asset since it was placed in service.
  • A business spends $84,000 on new display racks with a useful life of 7 years (84 months) and no residual value.
  • The corporation would most likely choose a straight-line depreciation technique, which would result in a $1,000 monthly depreciation expenditure ($84,000/84 months = $1,000 per month).

The straight-line technique of calculating depreciation expense is given below:

  • = (Original cost - salvage value) ÷ (useful life)
  • = ($173,000 - $8,600) ÷ (10 years)
  • = ($164,400,000) ÷ (10 years)  
  • = $16,440

In this method, the depreciation is the same for all the remaining useful life.

Now for the 7 months, the depreciation expense would be:

  • = $16,440 × 7 months÷ 12 months
  • = $9,590

Therefore, the amount to be recorded as depreciation expense on December 31, 2021, is (B) $9,590.

Know more about depreciation expenses here:

brainly.com/question/25785586

#SPJ4

The correct question is given below:

A company purchased factory equipment on June 1, 2021, for $173000. It is estimated that the equipment will have a $8600 salvage value at the end of its 10-year useful life. Using the straight-line method of depreciation, the amount to be recorded as depreciation expense at December 31, 2021, is ______.

(A) $16440.

(B)$9590.

(C)$8220.

(D)$6850.

7 0
1 year ago
Widget Inc. manufactures widgets. The company has the capacity to produce​ 100,000 widgets per​ year, but it currently produces
gayaneshka [121]

Answer:

$62,100

Explanation:

Given that,

Sales price per unit = $ 40

Variable costs per​ unit:

Manufacturing = $ 23

Marketing and administrative = $ 8

Total fixed​ costs:

Manufacturing = $ 76,000  

Marketing and administrative = $24,000

Total incremental costs:

= Variable manufacturing + Variable marketing and administrative

= (6,900 × $23) + (6,900 × $8)

= $158,700 + $55,200

= $213,900

Incremental income:

= Incremental revenue - Total incremental costs

= (6,900 × $40) - $213,900

= $276,000 - $213,900

= $62,100

Therefore, the operating income increases by $62,100.

7 0
3 years ago
A ________ limits the quantity of imported merchandise, thus minimizing competition faced by domestic products.
sertanlavr [38]

Answer: Import  Quota

Explanation:

A quota is  defined as a  government-imposed limit that is placed on  trade whether import or export so as to control goods and services that  enter or leave the country. we have different typos of quota  but we will talk about the

Import Quotas --- To reduce competition faced by local products, government places import quotas on import goods so as to prevent the flood of foreign goods in the market which most times are cheaper than local goods as they are mostly produced with cheaper labor than the domestic products .

7 0
3 years ago
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