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Mariulka [41]
3 years ago
9

On January 1, 2019, Wasson Company purchased a delivery vehicle costing $47,550. The vehicle has an estimated 7-year life and a

$4,500 residual value. Wasson uses the units-of-production depreciation method and Wasson estimates that the vehicle will be driven 105,000 miles. What is the vehicle's book value as of December 31, 2020, assuming the vehicle was driven 10,500 miles during 2019 and driven 18,500 miles during 2020
Business
1 answer:
Umnica [9.8K]3 years ago
4 0

Answer:

$35,660

Explanation:

the depreciable value of the vehicle = $47,550 - $4,500 = $43,050

depreciation expense per mile driven = $43,050 / 105,000 miles = $0.41

depreciation expense 2019 = $0.41 x 10,500 = $4,305

depreciation expense 2020 = $0.41 x 18,500 = $7,585

accumulated depreciation = $11,890

book value = $47,550 - $11,890 = $35,660

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Select the correct answer.
Rashid [163]

Answer:

C. consumer price index

Explanation:

The consumer price index CPI is the index used in the USA to measure inflation. The CPI calculates changes in the weighted average prices of a basket of goods and services representing consumer expenditure in the economy. The average change in prices computed in the CPI communicates the rate of inflation.

Inflation is the average change in prices in the economy in time. The CPI measures the changes in the weighted average prices of a basket of goods and services representative of consumer spending. Therefore, the CPI measures the rate of inflation.

7 0
3 years ago
Which factor is typically not a requisite feature of setting a career goal?
Talja [164]

Answer:

Analysing the goal of the family

Explanation:

Analysing the goal of the family is not a requisite feature of setting a career goal. It is an individual person's ability and topic of interest so the family goal cannot be taken into consideration.

The career goal should be set keeping in mind the individual person's area of interest and capability to do certain tasks. Therefore, the goal of the family will not be analysed. However, make sure the goal is challenging, realistic, and measurable.

3 0
3 years ago
Jerry needs some quick cash and decides to pawn his diamond ring, which is appraised at $750. The pawnbroker agrees to give Jerr
GarryVolchara [31]

Answer:

the amount of the loan the pawnbroker made to Jerry is $112.50

Explanation:

In order to find 15% of $750, one method is dividing 750 into 100 to find the value of 1%.

750 ÷ 100 = 7.5

Now we know the value of 1% is $7.50, so all we have to do is multiply that by 15.

7.5 × 15 = 112.5

Therefore, the amount of the loan the pawnbroker made to Jerry is $112.50

5 0
3 years ago
Read 2 more answers
Assume that you have been hired as a consultant by CGT, a major producer of chemicals and plastics, including plastic grocery ba
koban [17]

Answer:

d. 5.14%.

Explanation:

Calculation to determine the best estimate of the after-tax cost of debt.

First step

Based on the information given we would make use of rate formula in excel.

=rate(nper,pmt,-pv,fv)

Where,

nper= coupon every six months for 20 years = 40 coupon payments

Pmt =$1000*7.25%*6/12=$36.25

Pv = $875

Fv =$1000

Let plug in the formula

=rate(40,36.25,-875,1000)=4.28% semiannually

=4.28% *2=8.56% annually

Now let calculate the after tax cost of debt using this formula

After tax cost of debt=8.56%*(1-t)

Where,

t represent tax rate of 40%

Let plug in the formula

After tax cost of debt=8.56%*(1-0.4)

After tax cost of debt=5.14%

Therefore the best estimate of the after-tax cost of debt is 5.14%

8 0
3 years ago
The government of Junta took Fuel Safe Corp., a domestic energy firm, into state ownership to save the company from bankruptcy.
goblinko [34]

The government of Junta took Fuel Safe Corp., a domestic energy firm, into state ownership to save the company from bankruptcy. However, the other private competitors in the energy industry were enraged by this decision. As a result, the government had to reduce the tax burden on all private energy firms so that both the state-owned enterprise and private firms could coexist.It portrays Mixed economy

<h2>Option (E) is correct</h2>

<u>Explanation:</u>

It is an example of Mixed economy.Mixed economy is one in which both public and private enterprises exist. It combines the features of free economy,planned economy as well as private and public enterprise.

In mixed economy there is control of government and with that it has private concerns also. Government exercises control through various policies like fiscal policies and monetary policies. In this example state ownership as well as private competitors co exist.

7 0
3 years ago
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