1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Kamila [148]
2 years ago
6

A truck was purchased for $180,000 and it was estimated to have a $36,000 salvage value at the end of its useful life. Monthly d

epreciation expense of $3,000 was recorded using the straight-line method. The annual depreciation rate is Group of answer choices
Business
1 answer:
Nezavi [6.7K]2 years ago
7 0

Answer:

the annual depreciation rate is 25%

Explanation:

The computation of the depreciation rate is shown below:

= Yearly depreciation ÷ (Purchased cost - salvage value)

= ($3,000 × 12 months) ÷ ($180,000 - $36,000)

= $36,000 ÷ $144,000

= 25%

Hence, the annual depreciation rate is 25%

we simply applied the above formula

You might be interested in
A partner (owner) who invests money in a business does not take an active role in managing the operation, and is only subject to
Mashutka [201]

Answer:

Limited partner

Explanation:

A limited partner has limited liabilities and doesn't take an active role in managing the operation of the business. A limited partner is also known as a silent partner.

I hope my answer helps you

3 0
3 years ago
Mini-Case: Read the mini case and answer the questions that follow. Suppose the local Honda dealership is offering a special lea
ASHA 777 [7]

Answer:

It would take 36 months

Explanation:

Based on the information given we were told that the dealership offers to lease the Honda Accord for 36 months which means that if Nigel have make a choice to lease the Accord by entering into a contract with the dealership after which the lease amount is paid by Nigel each month for 36 months in a situation were the contract terms cannot be possibly carried out within a year, Based on the terms of this contract between Nigel and the Honda dealership the performance of the contract would take 36 months because the Honda Accord lease deal is 36 months and secondly the lease payment is made every month for 36 months.

8 0
3 years ago
Which of the following statements concerning the reduction of Social Security benefits is (are) correct?
tatiyna

Answer:

b) 2 only

Explanation:

The Social Security Act set up the Old Age and Survivors Insurance Trust Fund (OASI), from which retired individuals receive their payments. These benefits are subject to taxes, and can be withheld if a debt is incurred or an over-payment occurs.

5 0
3 years ago
External government debt is: Multiple Choice government debt owed to individuals in foreign countries. government debt owed by o
daser333 [38]

Answer:

The correct answer is option A (government debt owed to individuals in foreign countries).

Explanation:

  • This applies to interest earned from some kind of creditor or outside nation, this must be repaid throughout the commodity these were invested in.  
  • External debt may be collected through foreign banking institutions, from global banking organizations including the World Bank, respectively., as well as from sovereign governments.

Some other alternatives given don't apply to the cases in question. So answer A is a good one.

4 0
3 years ago
seigel co. maintains a defined-benefit pension plan for its employees. at each balance sheet date, seigel should report a pensio
Lemur [1.5K]

Answer: funded status relative to the projected benefit obligation

Explanation:

A defined benefit pension plan is a pension plan type in which the employer promises to pay the worker a lump sum or a pension payment which is based on the earnings history, age and the tenure of service of the worker.

Since Seigel co. maintains a defined-benefit pension plan for its employees. at each balance sheet date, seigel should report a pension asset/liability that will be equal to the funded status relative to the projected benefit obligation.

4 0
2 years ago
Other questions:
  • Planet Resource Inc. is a global internet company that offers country-specific variations of its sites, keeping in mind the ling
    12·1 answer
  • The typical starting point of any firm's marketing mix is the:____________
    13·1 answer
  • Three methods of time management
    12·1 answer
  • The processes a firm uses to turn inputs into outputs of goods and services is called
    9·1 answer
  • At the beginning of the recent period, there were 900 units of product in a department, 35% completed. These units were finished
    14·1 answer
  • On a public ballot, a state legislature places a question relating to legalization of marijuana for medicinal use. In addition,
    9·2 answers
  • _______ are special-purpose printers that use output from graphics tablets or other graphical input devices that are typically f
    15·1 answer
  • An MRP system that is updated periodically to account for all changes which have occurred within a given time interval is called
    13·1 answer
  • What is known as the act of giving "mental connection to a given task" or unit of information
    6·1 answer
  • You've been taking notes for your boss during his meetings with the Senior Executive for the organization. You notice that every
    8·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!