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ddd [48]
3 years ago
15

Marigold Corp. purchased a truck at the beginning of 2020 for $109700. The truck is estimated to have a salvage value of $4200 a

nd a useful life of 123000 miles. It was driven 22000 miles in 2020 and 30000 miles in 2021. What is the depreciation expense for 2020
Business
1 answer:
jeka57 [31]3 years ago
6 0

Answer:

the depreciation expense of the year 2020 is $18,870

Explanation:

The computation of the depreciation expense of the year 2020 is as follows:

= (Truck value - salvage value) ÷ (useful life) × (driven miles)

= ($109,700 - $4,200) ÷ (123,000 miles) × (22,000 miles)

= $18,870

Hence, the depreciation expense of the year 2020 is $18,870

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Answer:

A) Year 1 cost of goods sold

B) Year 2 cost of goods sold

D) Year 2  beginning inventory

Explanation:

A) Year 1 expense of merchandise sold : The Current year cost of Goods Sold is processed by deducting finishing stock from Opening Inventory and Purchases made during the year. So in the event that the completion stock isn't right, at that point the result of above calculation will not be right so the Year 1 expense of merchandise sold for example (Current year cost of Goods Sold) will be inaccurate.  

D) Year 2 starting stock: year 2 starting stock is equivalent to year 1 completion stock. So on the off chance that off-base stock estimation is made at end of earlier year, at that point current year opening worth will be carried on as off-base.  

B) Year 2 expense of merchandise sold: The explanation is same as ans q(i.e. Year 1 expense of merchandise sold) as off-base convey forward opening stock worth will bring about wrong calculation of cost of products sold for year 2.

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3 years ago
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Answer:

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Explanation:

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A personal budget may be prepared for a regular income say monthly, weekly, or quarterly payments. It can also be prepared for irregular incomes such as loans, gifts, or bonuses.

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Answer:

D) $1.00

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I hope my answer helps you.

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