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maxonik [38]
2 years ago
12

A company purchased a new delivery van at a cost of $51,000 on July 1. The delivery van is estimated to have a useful life of 6

years and a salvage value of $3,900. The company uses the straight-line method of depreciation. How much depreciation expense will be recorded for the van during the first year ended December 31
Business
1 answer:
Yanka [14]2 years ago
4 0

Answer:

Annual depreciation (partial)= $3,925

Explanation:

<u>First, we need to calculate the annual depreciation:</u>

Annual depreciation= (original cost - salvage value)/estimated life (years)

Annual depreciation= (51,000 - 3,900) / 6

Annual depreciation= $7,850

<u>Now, the depreciation for 6 months:</u>

Annual depreciation (partial)= (7,850/12)*6

Annual depreciation (partial)= $3,925

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Corinne believed in solving issues between managers and employees by talking and finding solutions together, so when a group of
FromTheMoon [43]

The correct answer is 2;  Corinne would use the process of integration and sit everyone down together to talk it through.

Further Explanation:

Since this type of issue needs to be addressed immediately, Corinne would need to sit everyone down and talk it through to get to the bottom of the sexual advances. When she does this it is called the process of integration. During this process, she will discuss the employees concerns and take their statements.

During the discussion, the employees will be guaranteed anonymity. The complaints will all be taken seriously, and an investigation will be started immediately. The supervisor may be put on administration leave while the investigation is ongoing.  

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7 0
2 years ago
National income accountants can avoid multiple counting by1. only counting intermediate goods. 2. only counting final goods.3. i
lubasha [3.4K]

Answer:

2. Only counting final goods

Explanation:

When defining national income accounting and terminolgies, emphasis is always laid on "...total value of FINAL goods...". This is as a result of avoiding double counting. If intermediate goods were counted alongside final goods, it would be double counting because intermediate goods are used in producing those final goods. Final goods are good meant for final consumption. The other method used in avoiding double counting ( counting of the value of the same product more than once) apart from counting final gooda is Value added approach.

4 0
3 years ago
What effect might the government have on​ oligopolies? In​ oligopolies, the government might A. promote competition with a paten
fenix001 [56]

Answer:

C. impose barriers to entry with a​ copyright, which allows only the government to supply a good or service.

Explanation:

  • The oligopolies is a market or industry where there exist small but large sellers and hence form an market competition and hence lead to higher prices to the consumers. As they have their market structures. Entry barriers include high investment and strong consumer liabilities.'
  • Thus governments can set barriers to entry of these firm as to market only those goods and services that the government recommend fit for the sales
3 0
3 years ago
You are bullish on Telecom stock. The current market price is $40 per share, and you have $8,000 of your own to invest. You borr
Marrrta [24]

The rate of return if the price of Telecom stock goes up by 6% during the next year is 8.00%

What is rate of return?

The rate of return on the bullish strategy is the return on the stock minus the interest on the borrowing.

The share price increase of 6% means the total amount invested would increase by 6%

new value of investment=$16000*(1+6%)

new value of investment=$16,960

interest on borrowing=4%*$8000

interest on borrowing=$320

Gain on investment=new value of investment-initial investment-interest on borrowing

Gain on investment=$16,960-$16,000-$320

Gain on investment=$640

rate of return=gain on investment/equity investment

rate of return=$640/$8000

rate of return=8.00%

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7 0
1 year ago
Balance Sheet
miv72 [106K]

Answer:

Dynamic Weight Loss Co.

DYNAMIC WEIGHT LOSS CO.

Classified Balance Sheet as of June 30, 20Y7

Assets

Current Assets:

Cash                                                     $119,630

Accounts Receivable                              26,100

Prepaid Insurance                                    8,400

Prepaid Rent                                            6,000

Supplies                                                   11,200

Total current assets                            $171,330

Long-term Assets:

Land                                                     375,000

Equipment                          325,900

Accumulated Depreciation (32,600) 293,300

Total long-term assets                     $668,300

Total assets                                      $839,630

Liabilities and Equity

Current Liabilities:

Accounts Payable                              $10,830

Salaries Payable                                    7,500  

Unearned Fees                                   21,000

Total current liabilities                     $39,330

Equity:

Common Stock                                180,000  

Retained Earnings                          620,300

Total equity                                  $800,300

Total liabilities and equity           $839,630

Explanation:

a) Data and Calculations:

Trial Balance as of June 30, 20Y7

Account Titles                      Debit        Credit

Cash                                $119,630

Accounts Receivable         26,100

Prepaid Insurance               8,400

Prepaid Rent                       6,000

Supplies                              11,200

Land                                375,000

Equipment                     325,900

Accumulated Depreciation - Equipment $32,600

Accounts Payable                                        10,830

Salaries Payable                                            7,500  

Unearned Fees                                           21,000

Common Stock                                         180,000  

Retained Earnings                                   620,300

Total                            $872,230           $872,230

4 0
3 years ago
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