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
Fittoniya [83]
3 years ago
10

Sheridan Chemicals Company acquires a delivery truck at a cost of $27,200 on January 1, 2022. The truck is expected to have a sa

lvage value of $4,300 at the end of its 5-year useful life. Compute annual depreciation for the first and second years using the straight-line method.
Business
1 answer:
umka2103 [35]3 years ago
6 0

Answer:

$4,580 and $4,580

Explanation:

The depreciation expense computation for the first and second year under straight line method is as see below;

= Original cost - Residual value / Useful life

= ($27,200 - $4,300) / 5yrs

= $22,900 / 5yrs

= $4,580

With regards to using the straight line method, the depreciation value is the same for all the remaining useful years.

It therefore means that for the first and second year, the same depreciation value of $4,580 should be charged distinctly for each year.

You might be interested in
Suppose that a very small economy produces only televisions and computers. Using the information below, what is the nation’s nom
Licemer1 [7]
The nation's nominal GDP does not take inflation into account. To solve this problem, we simply calculate the nation's nominal GDP in Year 4, ignoring the base prices. Keep in mind that if we were calculating real GDP, we would have to use the base year prices in our GDP calculation. 

Year 4:
Computers: 17 x 2200 = 37,400
Televisions: 20 x 550 =   11,000 +
Total GDP                                     =$48,400
Answer is C) 48,400
6 0
3 years ago
Scenario 15-6 The concert promoters of a heavy-metal band, WeR2Loud, know that there are two types of concert-goers: die-hard fa
nata0808 [166]

Answer:

Profit = $125,000

Explanation:

We know,

Profit = Sales revenue - Expense

Given,

Sales revenue = Number of seats available × Ticket price per person

Sales revenue = (1,000 seats × $150) + (500 seats × $50)

Sales revenue = ($150,000 + $25,000)

Sales revenue = $175,000

Expense = $50,000

Putting the values to the formula, we will get

Profit = Sales revenue - Expense

Profit = $175,000 - $50,000

Profit = $125,000

4 0
3 years ago
Which of the following is a primary responsibility of the Federal Reserve Bank?
sashaice [31]
The Federal Reserve System, regularly alluded to as the Federal Reserve or essentially "the Fed," is the national bank of the United States. It was made by the Congress to give the country a more secure, more adaptable, and more steady money related and monetary framework.
3 0
3 years ago
Read 2 more answers
At the end of its first month of operations, a company reported Revenue of $37,000. It also reported Wages Expense, $6,000; Rent
Alexxx [7]
Net income = Total revenues — Total expenses
8 0
2 years ago
When a stock transaction occurs in the secondary market, the company receives: Group of answer choices Nothing The dollar value
victus00 [196]

Answer:

The correct option is that the company receives nothing.

Explanation:

Secondary market stock transactions take place between investors who already hold the stock and the other one who is willing to buy the stock,the company whose stocks are being traded is not a party to the transactions,as a result,would receive nothing from such secondary market stock transactions.

The company would have receive cash if the it had issued shares to new investors for the first  time through investment banks ,which is initial public offer,or if shares were issued to existing stockholders,the rights issue

8 0
3 years ago
Other questions:
  • PLEASE HELP. Choose from one of the five (5) workplace skills listed below. Then explain why an employer might be more willing t
    6·1 answer
  • The balance of the Allowance for Doubtful Accounts account at January1 of the current year was $6,800. During the year, accounts
    10·1 answer
  • Anne-Marie Cole runs the sales division for a local auto insurance firm. One of her key duties is to calculate her company's mar
    14·1 answer
  • Edmund has been recently appointed as executive in-charge of the code of conduct for Elmer Enterprises. He administers the code
    7·1 answer
  • 7. Rate of Return. A stock is selling today for $40 per share. At the end of the year, it pays a dividend of $2 per share and se
    14·1 answer
  • Texas Inc. has 10,000 shares of 6%, $125 par value, cumulative preferred stock and 50,000 shares of $1 par value common stock ou
    13·1 answer
  • Who is responsible for following label instructions for using animal care products, or medications in the food supply continuum?
    5·1 answer
  • In terms of commonly traded organizational currencies, providing friendship, giving emotional backing, and listening to others'
    5·2 answers
  • Changes in the technological environment create increases in world wide in all sectors of the economy, creating exciting challen
    14·1 answer
  • Firms use both the __________ and __________ models. in fact, these models complement each other in that one focuses outside the
    12·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!