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
vlabodo [156]
3 years ago
12

A truck was acquired on July 1, 2018, at a cost of $311,850. The truck had a six-year useful life and an estimated salvage value

of $34,650. The straight-line method of depreciation was used. On January 1, 2021, the truck was overhauled at a cost of $28,875, which extended the useful life of the truck for an additional two years beyond that originally estimated (salvage value is still estimated at $34,650). In computing depreciation for annual adjustment purposes, expense is calculated for each month the asset is owned.
Business
1 answer:
Alina [70]3 years ago
8 0

Answer:

Details                                                                   Amount($)

Cost                                                                        $311,850

Less: Salvage value                                              <u>($34,650)</u>

Depreciation base July 1, 2018                             $277,200

Less: Depreciation to date ($277,200/6)*2.5 <u>($115,500)</u>

Depreciation base Jan 1, 2021 (unadjusted)        $161,700

Overhaul                                                                 <u>$28,875</u>

Depreciation base Jan 1, 2021 (adjusted)             <u>$190,575</u>

<u />

Date              Particulars                                         Debit($)   Credit($)

2021, Jan 1   Depreciation accumulated A/c Dr  $34,650

                             To cash A/c                                                  $34,650

2021, Dec 31 Expense for depreciation A/c Dr      $19,922

                      ($109,575/5.5)

                             To Depreciation accumulated A/c             $19,922

You might be interested in
Becoming a manager meams
Lesechka [4]

Answer:

The statement is: True.

Explanation:

Being a manager implies handling groups of people with diverse cultures, experiences, and personalities. To perform a proficient work, executives should have a well-defined method of working but be able to adapt it according to their subordinates and the situation the firm is facing. In some cases, their ego will have to be left behind to reach the company's goals.

5 0
3 years ago
Strategic behavior is required to win a presidential election. For each example below, indicate if it is a rule, strategy, or pa
rosijanka [135]

Answer:

The Guidelines for how votes are counted and who can vote is a rule, it is backed up by the constitution as a way of directing the masses.

Choosing to campaign in states with a large number of electoral votes or so called swing states is a strategy, this involves coming up with the best approach or means to win in an election. Going to such states is a big strategy towards securing victory.

Emphasizing different messages to different voter groups is another strategy, this entails telling each of the people things that are their most needs in a bid to convince them to vote for you. It is a strategy that has always worked.

Securing endorsements and large campaign contributions is a payoff, it is an aftermath of popular acceptance by the people.

Limits on sources of fundraising and campaign contributions is a rule established by the states to encourage fair play in the electoral system or process.

Explanation:

see Answer

4 0
3 years ago
The marketing department wants to buy two new computers. One computer will be used for their graphic artist to create graphics a
BartSMP [9]

Answer:

Explanation:

While buying a computer , the potential purpose and usage of the computer should as well as the component of the computer to buy should be considered in order to make a right selection .

As graphics designing software is processor intensive , a processor with a very high speed of at least 1 Ghz and an adequate RAM to aid faster process at once , minimum of 8Gb is required.

However , considering the function of a secretary which is to track billing and hours , a computer with a slower process will definitely perform the task

8 0
3 years ago
Which phrase best completes the diagram?
igomit [66]
Low gross domestic product
7 0
3 years ago
If other things are held constant, an increase in the United States imports will
VMariaS [17]

Other things remaining constant, increased US imports will <u>D. Tend to cause the </u><u>dollar</u><u> to depreciate</u> because the world supply of dollars will rise.

<h3>What is the implication of increased United States imports with other factors constant?</h3>

With increased imports by the United States, and if all other factors are held constant, the supply of dollars will increase.

When the supply of dollars increases without a corresponding increase in demand, the dollar will depreciate or lose its value relatively.

Thus, if other things remain constant, increased US imports will <u>D. Tend to cause the </u><u>dollar</u><u> to depreciate</u> because the world supply of dollars will rise.

Learn more about exchange rates at brainly.com/question/2202418

7 0
2 years ago
Other questions:
  • Calculate the GDP of Dinoland using the expenditures approach given the following data: personal consumption expenditures = $10
    13·1 answer
  • During October, Pharoah Company experiences the following transactions in establishing a petty cash fund. Oct. 1 A petty cash fu
    11·1 answer
  • (TCO IF) You have agreed to deliver the underlying commodity on a futures contract in 90 days. Today, the underlying commodity p
    9·1 answer
  • When a member performs non-attest services for an attest client, management is required to designate an individual to oversee th
    13·1 answer
  • Use the following classification to determine which category each of the following goods falls into.
    7·1 answer
  • Online, immediate status updates from Airlines about their flights is an example of e-commerce's effect of:
    14·1 answer
  • The term crowding-out effect refers to a situation in which a government _______________ results in ______________ interest rate
    8·1 answer
  • Guess thy song cuz ion know
    12·1 answer
  • In the field of organizational behavior, organizations are described as
    9·1 answer
  • How can a country achieve higher levels of competition and a variety of products in an industry with only one or two domestic fi
    15·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!