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den301095 [7]
3 years ago
13

A company purchased a new delivery van at a cost of $61,000 on July 1. The delivery van is estimated to have a useful life of 5

years and a salvage value of $4,900. The company uses the straight-line method of depreciation. How much depreciation expense will be recorded for the van during the first year ended December 31?
a. $5,880.
b. $5,610.
c. $6,590.
d. $11,220.
e. $6,100.
Business
1 answer:
faust18 [17]3 years ago
4 0

it's half a year out of 5, so 1/10 of the useful lifetime of the van

$61,000 - $4,900 is $56.1000

one tenth of that will be what we are looking for, so option b. should be just right to fit here

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Answer:

$207000 is the sales revenue for the year.

Explanation:

The given situation is:

Sales Revenue                              100%

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Now we neither have sales revenue figure nor the profit margin figures but we can calculate cost of goods sold from the following formula:

Cost Of Goods Sold = Opening Inventory + Purchases - Closing Inventory

By putting values we have:

Cost Of Goods Sold = $54,000 + $109,800 - $39,600

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Now cost of goods sold is 60% which means if we want to go at 100% we will divide with the percentage at which we are standing (60%) and multiply with the percentage which we want to calculate (Sales is 100%).

Sales revenue = Cost of goods sold  *    100% / 60%  

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What are the advantages and disadvantages of common stocks​
andrey2020 [161]

Advantages:

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Hopes this helps :)

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