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3 years ago

12

Jaylan decided she no longer liked the car she was leasing and turned it in a year before her lease was up. what kind of fee wil

l jaylan be required to pay as a result?

2 answers:

shusha [124]3 years ago

4 0

Apex: Lease Penalty

Digiron [165]3 years ago

4 0

Answer: Lase penalty

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true or false, Even with interest-rate a bank pays on your account the real rate of return on that negative because of inflation

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This may be true or false depending on the situation.

Explanation:

If countering in the inflation, banks were giving negative values all the time to their consumers they would not survive in the game.

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Flounder Company purchased a delivery truck for $33,000 on January 1, 2020. The truck has an expected salvage value of $2,000, a

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Answer:

Through straight line method

In year 2020 =3100

In year 2021 = 3100

Through double declining method

In year 2020=6600

In year 2021= 5280

Through activity based

in year 2020=4544

in year 2021=3366

Explanation:

Through straight line method

Formula is (Cost-salvage)/Useful years

So,

Cost of good is $33000

Salvage amount is $2000

Number of useful years 10

Putting the values

(33000-2000)/10

3100

As, this is straight line method, depreciation for the next year (2021) would also remain same. 3100

Through double declining method

Formula is 2* depreciation rate

so, 2* 1/10

double declining rate is 1/5

So, 33000*1/5= 6600

6600 for 2020

Next year (2021),

Now we would subtract the amount of 6600 (already depreciated) from the 33000.

So, 33000-6600= 26400

Applying the rate, 26400*1/5 = 5280

So, next year 5280

Through activity based

we depreciate the truck according to its usage

So, in first year it was used 13800 miles. Maximum it can be used for 100,000 miles

First year 13800/100000= 13.8% used

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So, in 2020 4554

Next year (2021)

It was driven 10200 which is 10200/100000= 10.2%*33000

So, 0.102*33000= 3366

In 2021, depreciation of machine according to the activity based system was 3366

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