Answer:
The depreciation expense for 2018: c. $25,375
Explanation:
Grover Corporation uses the units-of-production depreciation method. Depreciation expense is calculated by the following formula:
Depreciation Expense = [(Cost of asset − Salvage Value )/Life in Number of Units
] x Number of Units Produced = Depreciation Expense per unit x Number of Units Produced
In the company,
Depreciation Expense per mile = ($109,200-$4,200)/120,000= $0.875
The truck was driven 29,000 miles in 2018, so the depreciation expense for 2018: $0.875 x 29,000 = $25,375
Answer:
b. an admission in court.
Explanation:
An admission in the law of evidence is a prior statement by an adverse party which can be admitted into evidence over a hearsay objection. In general, admissions are admissible in criminal and civil cases
Answer:
re 17.4600%
Explanation:
We will calculate using the Modigliani Miller proposition with no taxes to solve for the cost of equity of a levered firm
We plus our values into the formula and solve
re 17.4600%
Answer:
(d) $6,000
Explanation:
The computation of the total liabilities is shown below:
Total liabilities = Office equipment purchased - cash paid
= $10,000 - $4,000
= $6,000
The remaining amount would reflect the note payable which is come under the liabilities accounts which is shown in the balance sheet.
The other information which is given in the question is not related to the liabilities account. Hence, we ignored it.
Answer:
The solvency ratio is closest to: B. 33%.
Explanation:
<em>The solvency ratio = After tax Net Operating Income ÷ Total Debt</em>
Thus,
The solvency ratio = $75,000 ÷ ($15,000 + $200,000)
= 35.88%
Therefore this is closest to B. 33%.
