1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
dimaraw [331]
3 years ago
11

Iverson Company purchased a delivery truck for $45,000 on January 1, 2018. The truck was assigned an estimated useful life of 5

years and has a residual value of $10,000. Compute depreciation expense using the double-declining-balance method for the years 2018 and 2019.
Business
1 answer:
Alla [95]3 years ago
4 0

Answer:

Results are below.

Explanation:

Giving the following information:

Purchase price= $45,000

Useful life= 5 years

Salvage value= $10,000

<u>To calculate the annual depreciation under the double-declining balance method, we need to use the following formula:</u>

Annual depreciation= 2*[(book value)/estimated life (years)]

<u>2018:</u>

Annual depreciation= 2[(45,000 - 10,000) / 5]

Annual depreciation= 14,000

<u>2019:</u>

Annual depreciation= 2*[(35,000 - 14,000)/5]

Annual depreciation= $8,400

You might be interested in
Sam wants to be a teacher. He has been imitating the behavior, mannerism, and dressing style of teachers at his school. What gro
likoan [24]

Answer:

  • <u>  models  </u>

<u />

Explanation:

The teachers that Sam imitates constitute <u>  models  </u> for him.

One of the first learning modes that every human use is the imitation. A baby can learn by direct experience (if he touches a metallic surface in winter the baby learns it is cold) or by imitation: when the baby sees the mom talking the baby learns to move the lips. The mother is baby's first model and the baby learns by imitating her.

When we grow up, we have many models: relatives, friends, peers, teachers, and virutally any person with whom we are in contact.

Imitating continues during all the life and teachers are very important models.

Specially, when the teacher is a good example and arouses admiration, the students will trend to imitate them. Particularly, in the case of Sam who wants to be a teacher: probably Sam has had some excellent teachers whom he admires and made him to want to follow their steps, which is why he imitates them. They are a good model to follow.

5 0
3 years ago
You sold a put contract on EDF stock at an option price of $.50 and an exercise price of $21. Today, EDF stock is selling for $2
andreyandreev [35.5K]

Answer:

-$50

Explanation:

Calculation to determine your total profit on this investment

Total profit = 1 × 100 × ($.50 - $21+ $20)

Total profit = 100×(-$0.5)

Total profit = -$50

Therefore your total profit on this investment is -$50

7 0
3 years ago
On March 31, 2009, Phoenix, Inc. paid Melanie Publishing Company $15,480 for a 3-year subscription for five different magazines.
frosja888 [35]

Answer:

prepaid subscrption ending balance

2009 11,610

2010 6,460

2011  1,290

Explanation:

15,480 / 36 months = 430 per month

December 31th Adjustment:

430 x 9 months (from March 31,2009 to December 31,2009)

received magazinesfor $ 3,870

balance: 15,480 - 3,870 = 11,610

Decmeber 31th 2010

430 x 12 months = 5,160

balance 11,610 - 5,160 = 6,450

2011 adjustment

again for 12 months: 5,160

6,450 - 5,160 = 1,290

5 0
4 years ago
At the end of the current year, Accounts Receivable has a balance of $550,000; Allowance for Doubtful Accounts has a credit bala
levacccp [35]

Answer:

d. $19,500 and $25,000

Explanation:

Provided balance of Accounts Receivables at year end = $550,000

Allowance for Doubtful Debts Account = $5,500

Sales for the year = $2,500,000

Now, provided un-collectible accounts receivables = $25,000

Thus year end balance of allowance for doubtful debts shall be $25,000

Therefore, entry shall be of amount = $25,000 - $5,500 = $19,500

after that balance at year end of allowance for doubtful debts = $5,500 + $19,500 = $25,000

5 0
3 years ago
The three categories of manufacturing costs comprising the cost of work in process are direct labor, direct materials, and: ____
Artist 52 [7]

Answer:

C)) factory overhead

Explanation:

Manufacturing cost can be regarded as the sum of all the costs resources that is been consumed during the process of making a product. manufacturing cost can be classified as;

✓direct materials cost

✓ manufacturing overhead.

✓direct labor cost

It can be regarded as factor in total delivery cost. Direct Material Cost can be regarded as total cost that is incurred in purchasing of raw material and cost of other components such as packaging, as well as freight and storage costs by the company

It should be noted that The three categories of manufacturing costs comprising the cost of work in process are direct labor, direct materials, and factory overhead.

3 0
3 years ago
Other questions:
  • Sonic Inc. manufactures two models of speakers, Rumble and Thunder. Based on the following production and sales data for June, p
    14·1 answer
  • Outlines give you a chance to organize your thinking before determining word choice and sentence structure.
    7·1 answer
  • Karen and Mike currently insure their cars with separate companies, paying $400 and $600 a year. If they insured both cars with
    12·1 answer
  • A credit card balance represents
    12·2 answers
  • It is the custom for paper mills located alongside the Layzee River to discharge waste products into the river. As a result, ope
    7·1 answer
  • Which is a reason a person might decide not to purchase insurance
    11·2 answers
  • If marijuana were legalized, it is likely that there would be an increase in the demand for marijuana. If demand for marijuana i
    13·2 answers
  • Cybill's manager wanted her to design the new ad campaign for the firm's new product. She was given all the necessary resources
    10·1 answer
  • Mentionlytics provides listening tools to help clients discover and react to different sentiments about anything connected to th
    12·1 answer
  • On January 1, 2021, Wright Transport sold four school buses to the Elmira School District. In exchange for the buses, Wright rec
    7·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!