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
marshall27 [118]
3 years ago
13

A truck acquired at a cost of $80,000 has an estimated residual value of $8,000, has an estimated useful life of 200,000 miles,

and was driven 18,000 miles during the year. Determine the following. If required, round your answer for the depreciation rate to 2 decimal places.(a) The depreciable cost __________. (b) The depreciation rate __________. (c) The units-of-activity depreciation for the year per mile __________.
Business
1 answer:
Alexus [3.1K]3 years ago
6 0

Answer:

a. $72,000

b. $0.36

c. $6,480

Explanation:

a. Depreciation cost = Cost of truck - Residual value

= $80,000 - $8,000

= $72,000

b. The depreciation rate = (Cost of truck - Residual value) ÷ Estimated total production

= ($80,000 - $8,000) ÷ 200,000 miles

= $72,000 ÷ 200,000 miles

= $0.36

c. The units-of-activity depreciation for the year per mile = Driven miles × Depreciation rate

= 18,000 × $0.36

= $6,480

You might be interested in
Promissory estoppel is​ a(n) _____ doctrine that permits a court to order enforcement of a contract that lacks​ _____.
ehidna [41]
Promissory estopplel is a contractual agreement based on a promise rather than on a written contract but is still enforceable and legal such as in regarding payment for services rendered so that the contractor is protected financially.
8 0
3 years ago
What are some of the things that japan produces?
Shalnov [3]
Japan produces many things. They produce many popular video games, foods, and toys. 
6 0
3 years ago
There is a difference between the income tax payable account and the income tax expense account in the financial statement of th
Anit [1.1K]

C. Accounts Payable

Income tax expense is the amount that your company calculates for taxes, whereas income tax payable is the actual amount calculated by the IRS that the company owes which is recorded as a liability in accounts payable until the tax bill is paid off.

5 0
3 years ago
An increase in expected future income​ ______.
nataly862011 [7]

Answer: A

Explanation: Increase the supply of loanable funds today because households with larger expected future income will save more today

5 0
3 years ago
Bakers corp will pay a dividend of 5.15 8.05 and 11.25 per share for each of the next three years respectively. the company will
Pani-rosa [81]

Answer: $19.40

Explanation:

Based on the information given in the question, the following can be deduced:

D1 = $5.15

D2 = $8.05

D3 = $11.25

Rate of return = 11% = 0.11

The current stick price will be calculated as:

= 5.15/(1 + 0.11) + 8.05/(1 + 0.11)^2 + 11.25/(1 + 0.11)^3

= 5.15/1.11 + 8.05/(1.11)^2 + 11.25/(1.11)^3

= $4.64 + $6.53 + $8.23

= $19.40

5 0
3 years ago
Other questions:
  • a sole proprietor with a tentative loss may deduct which of the following for qualified business use of home expenses?
    7·1 answer
  • Your broker called earlier today and offered you the opportunity to invest in a security. As a friend, she suggested that you co
    9·1 answer
  • Assume the price of product Y (the quantity of which is on the vertical axis) is $15 and the price of product X (the quantity of
    10·1 answer
  • ​the marketing concept is a ______________ that guides the overall activities of an organization. it has evolved over time from
    6·1 answer
  • If a transformational leader is supposed to be so smart and visionary, why would he or she emphasize empowerment in his or her l
    9·1 answer
  • In 2019, Brazil's trade deficit as share of GDP widened. In that year, government deficit as share of GDP declined and investmen
    11·1 answer
  • Why are people with savings hurt by inflation?
    12·1 answer
  • House Loan. Suppose you take out a home mortgage for $180,000 at a monthly interest rate of 0.5%. If you make payments of $1000/
    10·1 answer
  • When does inflation become hyperinflation?
    5·1 answer
  • A company reports the following beginning inventory and purchases for the month of January. On January 26, the company sells 350
    11·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!