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Art [367]
3 years ago
5

Cork Oak Corporation purchased a heavy-duty truck (not considered a passenger automobile for purposes of the listed property and

luxury automobile limitations) on May 1, 2018 for use in its business. The truck, with a cost basis of $24,000, has a 5-year estimated life. It also is 5-year recovery property. How much depreciation should be taken on the truck for the 2018 calendar tax year using the conventional (for financial accounting purposes) straight-line depreciation method?
Business
1 answer:
never [62]3 years ago
6 0

Answer: Cost of truck / expected useful life= 24,000 / (5 year × 12 months)= 400 dollar per month 400×8= 3200 dollar

Explanation:

Considering no salvage value of the truck at the end of the 5-year period and need for 8 month period of depreciation (from May 1 till the end of the year) we use formula of straight line method: Cost of truck / expected useful life= 24,000 / (5 year × 12 months)= 400 dollar per month. And in order to find taken accumulated depreciation for 8 months of 2018: 400×8= 3200 dollar. At the end of 2018 we should write off 3200 dollar from the value of truck.

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If the price of a sofa is $800 in the u.s. and 2400 pesos in argentina, and the exchange rate is 4 pesos per dollar, what is the
Vesnalui [34]
The real exchange rate ( RER ) is the ratio of the price level abroad and the domestic price level.
RER = ( Nominal Exchange Rate x Foreign Price ) / ( Domestic Price )
The price of sofa is 2,400 pesos in Argentina and the nominal exchange rate is 4 pesos per dollar (  2,400 : 4 = $600 )
RER = 4 x $600 / $800 = 3
Answer: The Real Exchange Rate is 3 pesos per dollar.
4 0
3 years ago
"In evaluating a recently implemented positioning strategy, a company s marketing department notes that since the strategy was p
andreyandreev [35.5K]

Answer: Do nothing and continue to monitoring implementation

Explanation:

 According to the given question, in an organization the marketing department notes that the implementation of the positioning strategy in the company increases the average amount of spending as per the transaction that is reduce.

 The main objective of monitoring implementation is that it effectively monitor the ongoing process and also analyzing the given data on the basis of the given situation.  

 In this type of situation the company continues start monitoring implementation as it helps in evaluating the given data or information systematically and measuring the efficiency of the management.

 Therefore, The given answer is correct.  

8 0
3 years ago
The journal entry for an installment note payment includes all except:__________.
soldi70 [24.7K]

Answer: a. a credit to Accounts Payable.

Explanation:

When paying off a note, cash will be used so cash will have to be credited to show that it is decreasing.

Interest expense will be debited by the interest accumulated on the loan because expenses are debited when they increase.

Notes Payable will be debited to show that the note has now been retired.

There is no credit for Accounts payable involved in this transaction.

5 0
3 years ago
The true rate of interest that you pay on a loan is called the
Kaylis [27]
The true rate of interest that you pay on a loan is called the APR interest rates
 
3 0
3 years ago
Bulluck Corporation makes a product with the following standard costs: Standard Quantity or Hours Standard Price or Rate Direct
avanturin [10]

Answer:

Variable overhead efficiency variance= $544 favorable

Explanation:

Giving the following information:

Variable overhead 0.90 hours $ 3.40 per hour

Actual output 4,400 units

Actual direct labor-hours 3,800 hours

<u>To calculate the variable overhead efficiency variance, we need to use the following formula:</u>

<u></u>

Variable overhead efficiency variance= (Standard Quantity - Actual Quantity)*Standard rate

Variable overhead efficiency variance= (3,960 - 3,800)*3.4

Variable overhead efficiency variance= $544 favorable

Standard quantity= 4,400*0.9= 3,960

8 0
3 years ago
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