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mylen [45]
3 years ago
14

Wildhorse Taxi Service uses the units-of-activity method in computing depreciation on its taxicabs. Each cab is expected to be d

riven 144,000 miles. Taxi 10 cost $29,000 and is expected to have a salvage value of $200. Taxi 10 was driven 31,000 miles in 2021 and 33,500 miles in 2022.
Determine the depreciation cost. (Round answer to 2 decimal places, e.g. 1.25.) per unit
Depreciable costs
eTextbook and Media
Compute the depreciation for each year. 2021 2022
Depreciation expense $
Business
1 answer:
9966 [12]3 years ago
8 0

Answer:

depreciation expense 2021 = $6,200

depreciation expense 2022 = $6,700

Explanation:

depreciable value = $29,000 - $200 = $28,800

depreciation expense per mile driven = $28,800 / 144,000 = $0.20

number of miles driven during 2021 = 31,000

depreciation expense 2021 = 31,000 x $0.20 = $6,200

number of miles driven during 2020 = 33,500

depreciation expense 2022 = 33,500 x $0.20 = $6,700

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A.The loss on the cash sale of equipment was $4,375 (details in b).B. Sold equipment costing $97,875, with accumulated depreciat
n200080 [17]

Answer:

<u><em>Cash Flow Statement </em></u>

Cash flow from Operating Activities

Adjustment for Non - Cash items :

loss on the cash sale of equipment                            $4,375

Adjustment for Working Capital items :

Increase in short-term note payable                           $5,700

Net Cash from Operating Activities                           $10,075

Cash flow from Investing  Activities

Proceeds from sale of equipment                            $28,625

Purchase of Equipment                                            ($64,000)

Net Cash from Investing Activities                           ($35,375)

Cash flow from Financing  Activities

Repayment of the long-term notes payable           ($58,625)

Issue of Common Stocks                                           $84,000

Dividend Paid                                                            ($53,500)

Net Cash from financing Activities                           ($28,125)

Movement During the Year                                     ($53,425)

Explanation:

The Indirect method reconciles the Operating Profit to the Cash Flow from Operating Activities by adjusting the following items, (1) Non-cash items previously included or deducted from the Operating Profit and (2) Changes in Working Capital items.

8 0
3 years ago
Which of the following methods seeks to effect positive change in processes and organizations by using a set of practical tools
podryga [215]

Answer: D. Six Sigma Methodologies

Explanation:

Six sigma methodologies are a set of tools and techniques used to effect continuous improvements of a process,this improvements is aimed at reducing wastages or variations.

Six sigma uses tools such as DMAIC(DEFINE, MEASURE,ANALYSE ,IMPLEMENT,CONTROL) etc guide the process improvement process.

There are several other tools and techniques used they include FISHBONE DIAGRAM, MEASUREMENT SYSTEM ANALYSIS(MSA), 5S etc all these are implemented in different stages of the process.

8 0
3 years ago
On January 4, 2019, Kiley Co. leased a building to Dodd Corp. for a ten-year term at an annual rental of $200,000. At the beginn
finlep [7]

Answer:

b. $200,000 $400,000

Explanation:

As it given that $800,000 received by Kiley,  out of which $400,000 is the security deposit amount  and remaining $400,000 represents the current year and the next year rent  

So we assume $200,000 is the current year rent revenue and the other $200,000 represents the unearned rent revenue which is reflected as a current liability

And, the security amount is shown as a long term liability

4 0
3 years ago
A situation in which both unemployment and inflation rates are high is known as ______.
faust18 [17]

Stagflation is a condition in which both the unemployment rate and the inflation rate are high. Stagflation is characterised by slower economic development, low employment rates, and increased inflation rates. Stagflation is the occurrence of low economic growth, high unemployment.

In terms of economics, stagflation, sometimes known as recession-inflation, is a state in which unemployment is consistently high, the economy is growing slowly, and the inflation rate is high or rising. When inflation and economic stagnation coexist, this is known as stagflation. The economy is in a state of stagnation due to rising unemployment.

The term "stagflation" was first used in the 1970s, a period of both high inflation and rising unemployment. Stagflation wasn't commonly acknowledged until the middle of the 20th century.

To know more about stagflation, click here:-

brainly.com/question/28177756

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7 0
1 year ago
1.4 The process of allocating a business function to a
ElenaW [278]
Outsourcing because a third party is someone who is not one of the main people involved in a business.
5 0
3 years ago
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