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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.

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Processing a new employee's employment-related paperwork, acquiring necessary keys and identification cards, and establishing an
jeka94

The answer to this question is a part of Employee onboarding and orientation. An Employee onboarding is the process where a new employee will be welcomed in the company and will inform the new employee of the culture of the company, rules and regulations, and the new hired employee will also receives his or her identification cards, and other related paper works with regards the persons tasks. Also in the employee onboarding, the benefits of the employee are also being discussed to ensure that the new hired employee will know what are his benefits and perks.  Employee Onboarding may take at least 3 days depending on the program schedule that the human resource officer had made. 

6 0
3 years ago
If a positive externality in consumption is present in a market, then
larisa [96]
Positive externality is a benefit that is enjoyed by a third party as a result of business transaction. Third parties include any individual, property owner or an organisation or a resource that is indirectly affected. If a positive externality in consumption is present in a market, then the private benefit from a consumption will be different than the social benefit from consumption.
8 0
3 years ago
What is the reason it's better to underestimate your income instead of overestimating when creating your budget?
Alik [6]

Answer:

  • <em>Underestimating your income is a conservative and healthy measure that can avoid financial problems.</em>

Explanation:

<em>Underestimating</em> your <em>income</em> is a conservative and healthy measure, such as it is overestimating your expenses.

Specially when your income is variable iit can be hard to predict. You will be safer both if your income lowers or your unpredictable expenses increase.

There are many unpredictable situations that could put you in a difficult situation: a disease, a natural disaster, the need to help a family member or friend in trouble. If any of these unfortunate circumstances arises and your budget is too tight, you could see yourself in financial trouble.

But, if you if all is smooth you will have in a happy situation, you will have a surplus which can use for savings, for an important purchase, or for vacations.

It is better to be cautious than to regret later!

6 0
3 years ago
Abbott Company uses the allowance method of accounting for uncollectible accounts. Abbott estimates that 4% of credit sales will
OverLord2011 [107]

Answer:

$3760

Explanation:

Calculation to determine the December 31 balance in Bad Debt Expense

Using this formula

Bad debt expense = Credit sales × Uncollectible percentage

Let plug in the formula

Bad debt expense= $94,000 × 4%

Bad debt expense= $94,000 × 0.04

Bad debt expense= $3760

Therefore the December 31 balance in Bad Debt Expense will be $3760

8 0
2 years ago
Proton Corp. is an automobile manufacturer known for producing efficient, durable, and low-priced cars. Recently, the company la
deff fn [24]

Answer: Option (A)

Explanation:

Product Line stretching is referred to as an expanding technique undertaken by the organization under which the new commodities and services are released in the similar product line but further the ongoing product dimension with some of the different or additional features. The product line stretching at times can also tend to be down market or up market.

6 0
3 years ago
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