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Ket [755]
2 years ago
9

A company purchased a delivery truck on January 1, 2021, for $100,000. The truck has an estimated life of 10 years and an estima

ted residual value of $10,000. If the company uses double-declining balance, what would be the book value of the truck after two years?
Business
1 answer:
Ray Of Light [21]2 years ago
5 0

Answer: The book value of the truck after two years, using the double-declining balance is $64,000.

Explanation: The double-declining method is otherwise known as reducing balance method. It is usually derived by using the formula below:

Double-declining depreciation = 2 X SLDP X BV

Where SLDP = straight-line depreciation percentage

            BV = Book value of the asset (Cost minus depreciation)

So using the straight-line depreciation method, we need to remove the salvage value from the cost and then divided by 10 years. That is, ($100,000 - $10,000) / 10 years = $9,000 yearly depreciation expense.

However, under the double-declining method, we need to divide the 100% by the useful life of the asset first to get the SLDP then multiply by 2, that is, 100%/10 years = 10% x 2 = 20%.

So 20% x $100,000 in year 1 (December 31, 2021) is $20,000

In year 2 (December 31, 2022), 20% x $80,000 ($100,000 - $20,000) = $16,000 and so on. The depreciation charge would stop immediately it falls below the salvage value of $10,000.

So the book value of the asset at year 2 is $64,000 ($100,000 - $36,000 accumulated depreciation)

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Steven consumes only two goods, both of which are normal goods. He is currently maximizing his utility in consumption of both go
zzz [600]

Answer:

The answer is: remain the same

Explanation:

The marginal utility of a good or service is how much better we feel when consuming an extra unit of that good or service. For example if we are very thirsty, the marginal utility of consuming a can of Coke is very large, but once our thirst is quenched, an extra can of Coke will not provide use with that much satisfaction as before.

If the price of a substitute good increases, the marginal utility of the good whose price didn't change, will remain the same.

Let's go back to the Coke example. An extra can of Coke will give me 5 more satisfaction units (I'm assuming I can measure satisfaction) and an extra slice of pizza will give me 7 more units of satisfaction. If the price of Coke increases from 50 cents to $1, its marginal utility will decrease. I will buy more pizza because the satisfaction I get from drinking Coke is now smaller.

4 0
3 years ago
Which of the following database object hold data?
natta225 [31]

Answer:reports

Explanation:

6 0
2 years ago
David is a police officer with the New York Police Department (NYPD).NYPD asks David to retire when he turns 65.It also informs
romanna [79]

Answer:

B) David will most likely lose the case as it is legal for police officers to be subjected to mandatory retirement.

Explanation:

According to relevant laws, an officer must retire upon attaining the age of 62 of after 20 years of uniformed service (if it is an Early Retirement) or 22 years of uniformed service (if it is a Normal Retirement).

Regardless of whether it is a Normal or Early retirement, the officer must disengage at the age of 62.

The relevant laws which govern the administration of the NYPD retirement process as wells pensions are:

  • the Administrative Code of the City of New York (NYCAC);
  • the New York State Retirement and Social Security Law (RSSL), and
  • the Rules of New York City Police Pension Fund (NYCPPF)

Cheers!

3 0
3 years ago
Revising for Conciseness - Eliminating Flabby Expressions,Limiting Long Lead-Ins, and Dropping Unnecessary FillersTime is money
kvv77 [185]

Answer:

Explanation:

Flabby expression is extra words that make your writing seems unclear, weak, rambling, and unstructured. It often contains overused words which seem meaningless to the reader.

It is required to eliminate the unnecessary words in order to make your writing reach a higher level. You need to make your message become concise. These examples show you how to change the flabby expressions into the concise ones.

Flabby

Concise

As a general rule

Generally

At a later date

Later

At this point in time

Now, presently

Despite the fact that

Although

Due to the fact that

Because

b. Limiting Long Lead-Ins

This means you need to delete unnecessary introductory words.

For example:

Instead of saying “I am sending you this e-mail to announce that we have hired a new manager”, you can say “We have hired a new manager”.

Dropping unnecessary there is/ are and it is/ was fillers

d. Rejecting Redundancies

Redundancies are expressions with repeating meaning or including unnecessary words (redundant. For example, the word unexpected surprise can be changed into surprise because unexpected carries the same meaning as surprise. Here are the examples of redundant and concise words.

. Purging empty words

Empty words and phrases: case, degree, the fact, factor, instance, nature and quality.

Because of the degree of active participation by our sales reps, profit soared.

It sounds better when we remove them.

Avoid saying the obvious.

If it comes, omit it.

This is to inform you that we have a toll-free service line

Clauses begin with that, which and who can often be shortened without loss of clarity.

All employees who are among those completing the course will be reimbursed.

Revising for clarity

a. KISS

KISS stands for Keep It Short and Simple. KISS formula is using active-voice sentences that avoid indirect, pompous language.

b. Cliches and Slang

Cliches are expressions, words, and phrases which are overused. For example, you say “below the belt” instead of “last but least”.

Slang is informal words with changeable meanings. For example, you write “gr8” instead of “great”.

Designing Documents for Readability

a. Employing white space

Use headings, bulleted numbers, effective margins, and Improve readibility and comprehension (shortening sentences & paragraphs) to increase the white space

b. Understanding Margins and Text Alignment

Business letters or memos usually have side margins of 1 to 1 ½ inches.

c. Choosing Appropriate Typefaces

Two most categories in business message are Serif typefaces whichh have small features at the end of strokes (e.g. Times New Roman, Century, Georgia and Palatino), and Sans serif typefaces which are clean and widely used for headings, signs and material that doesnt require continuous reading (e.g Arial, Calibri, Helvetica, Tahoma, Univers and Verdana)

For less formal message or decorative effects :

Happy, Creative script/ funny (Comic Sans, Brush script, Gigi, Jokerman, Kristen)

Assertive, Bold, Modern Display (Britannic Bold, Broadway, Elephant, Impact, showcard)

Plain Monospaced (Courier, Letter Gothic, Prestige Elite)

d. Capitalizing on Type Fonts and Sizes

During revision process, you need to think about font style and size appropriately. Make it looks comfortable according to the necessity.

e. Adding Headings for Visual Impact

By adding headings, you can improve readability, encourage the writer to group similar material together, and help busy readers to skim.

All examples are given in attachment

3 0
2 years ago
The reduction in principle of the 13th payment is 50% larger than the reduction in principle of the 5th payment. What is the tot
BigorU [14]

Complete Question:

A 20-year level repayment of a loan of 1000 has been scheduled. Recall that in such scenarios, as time progresses the reduction in principal part of each payment increases as the interest part of each payment decreases. The reduction in principle of the 13th payment is 50% larger than the reduction in principal of the 5th payment. What is the total amount of interest paid on the loan?

Answer:

At an assumed interest rate of 6%, the Total Interest on the Loan is:

= $743.69

Explanation:

a) Data and Calculations:

Amount of loan = $1,000

Period of loan = 20 years

Assumed interest rate = 6%

Loan Amount  1000

Loan Term  

20  years  0  months

Interest Rate  6

Compound  

Annually (APY)

Pay Back  Every Year

Results:

Payment Every Year   $87.18

Total of 20 Payments   $1,743.69

Total Interest   $743.69

View Amortization Table

Principal 57%

Interest 43%

Amortization Schedule

  Beginning       Interest     Principal     Ending

        Balance                                              Balance

1      $1,000.00        $60.00       $27.18       $972.82

2       $972.82  $58.37      $28.82       $944.00

3       $944.00 $56.64       $30.54       $913.46

4       $913.46         $54.81       $32.38       $881.08

5       $881.08        $52.86       $34.32       $846.76

6      $846.76          $50.81       $36.38       $810.38

7       $810.38          $48.62       $38.56       $771.82

8       $771.82          $46.31       $40.88       $730.94

9      $730.94         $43.86       $43.33       $687.61

10     $687.61          $41.26       $45.93       $641.69

11      $641.69         $38.50       $48.68       $593.00

12    $593.00        $35.58   $51.60      $541.40

13     $541.40        $32.48 $54.70 $486.70

14    $486.70        $29.20 $57.98 $428.71

15    $428.71         $25.72 $61.46 $367.25

16    $367.25        $22.04 $65.15 $302.10

17    $302.10           $18.13 $69.06 $233.05

18   $233.05          $13.98 $73.20 $159.84

19    $159.84          $9.59 $77.59 $82.25

20    $82.25           $4.93 $82.25 $0.00

3 0
3 years ago
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