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kompoz [17]
3 years ago
5

Brief Exercise 229 Iverson Company purchased a delivery truck for $45,000 on January 1, 2020. The truck was assigned an estimate

d useful life of 5 years and has a residual value of $10,000. Compute depreciation expense using the double-declining-balance method for the years 2020 and 2021.
Business
1 answer:
Fofino [41]3 years ago
7 0

Answer:

the  depreciation expense using the double-declining-balance method for the years 2020 and 2021 is $18,000 and $10,800 respectively

Explanation:

The computation of the depreciation expense using the double declining method for the year 2020 and 2021 is as follows:

For 2020

= (Cost) × depreciation rate

= $45,000 × 1 ÷ 5 × 2

= $18,000

For 2021

= ($45,000 - $18,000) × 0.40

= $10,800

hence, the  depreciation expense using the double-declining-balance method for the years 2020 and 2021 is $18,000 and $10,800 respectively

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Answer:

C:an increase in both the inflation and real growth rates in the short run.

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The interest rate on a 10-year corporate bond for a company with AA rating will be higher than for a 10-year bond for a company
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The interest rate on a 10-year corporate bond for a company with AA rating will be higher than for a 10-year bond for a company with a BBB- rating.

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3 years ago
What is Depreciating assets
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3 years ago
Read 2 more answers
Kennedy Company reports the following costs and expenses in May.
yuradex [85]

Answer and Explanation:

The computation is shown below:

a. The manufacturing overhead is

= factory utilities + depreciation on factory equipment + indirect factory labor + indirect material + factory manager salary + property tax + factory repairs

= $16,500 + $12,650 + $48,900 + $70,800 + $8,000 + $2,500 + $2,000

= $161,350

b. The product cost is

= Direct material used + direct labor + total manufacturing overhead

= $157,600 +  $79,100 + $161,350

= $398,050

c.  The period cost is

= Depreciation on delivery truck + sales salaries + repairs to office equipment + advertising + office supplies used

= $3,800 + $48,400 + $1,300 + $23,000 + $4,640

= $81,140

6 0
3 years ago
Supplier development is synonymous with ____. Group of answer choices materials management procurement reverse marketing supplie
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Answer:

<em>The correct answer is:</em> reverse marketing

Explanation:

Reverse marketing can be defined as the type of marketing in which the customer seeks the company, and not that traditional marketing model whose marketers are looking for customers.

Therefore, in this model, it is necessary to develop the variables that will bring the customer closer to the company, because reverse marketing can be considered an aggressive strategy to achieve objectives, where the buyer is the main decision maker of the purchase.

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