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il63 [147K]
3 years ago
9

Swift Motor Lines has a delivery truck that cost $11,000, and has $1,000 of accumulated depreciation. What is the fair market va

lue of the truck
Business
1 answer:
harina [27]3 years ago
4 0

Answer: Information is not sufficient to answer.

Explanation:

The fair market value of a fixed asset is the current value in the market of the fixed asset. Given that we do not know the current market value as it is not given in the question, we are unable to answer this question.

If the question had asked to calculate the net book value then we would have simply subtracted the accumulated depreciation from the cost price but this is a fair market value question so its different.

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Start paying for your own bills and pay them on time, saving money helps as well. just really being responsible with your card helps your credit.
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3 years ago
One important benefit of a multiparty system over a two-party system is that ____________.
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4 years ago
Douglas Industries produced 5,500 units of product that required 2.5 standard hours per unit. The standard fixed overhead cost p
taurus [48]

Answer:

$550 favorable

Explanation:

Douglas industries was involved in the manufacturing of 5,500 units of a product which required 2.5 standard hours per unit.

The standard fixed overhead cost per unit is $2.20 for each hour at 13,500 hours

Therefore, the fixed factory overhead volume variance can be calculated as follows

= (13,500-(5,500×2.5hours)×$2.20

= (13,500-13,750)×$2.20

= -250 × $2.20

= -$550

= $550 favorable

Hence the fixed factory overhead volume variance is $550 favorable

3 0
4 years ago
Which financial statement shows the calculation of a business's net profit by deducting the expenses from the revenue of an orga
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Why is there random characters in the sentences

8 0
3 years ago
You have been given this probability distribution for the holding period return for KMP Stock State of the Economy Boom Normal R
Hunter-Best [27]

Answer: The answer is a

Explanation:

Using the formula

Expected Rate of Return = ∑(i =1 to n) Ri Pi

Where Ri = Return in scenario 1

Pi = Probability for the return in scenario 1

i = Number of scenario

n = Total number of probability and Return

P1=30

R1 = 18

P2 = 50

R2 =12

P3 = 20

R3 =-5

Expected Gain =(30 ×18) + (50 × 12) + ( 20 × -5)

= 540 + 600 + - 100

= 1,040

= 1,040 ÷ 100

= 10.4%

7 0
4 years ago
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