$.07. You do not write $.7 because that would mean 70 cents and should be written with a 0 at the end anyways. You do not write any dollar amount with a cents sign at the end, because the dollar sign replaces it. You write $.07 because 7 cents means 7/100 (7 one hundredths) so the seven must be written in the hundredths spot. Remember, the hundredth spot is the second number after a decimal.

5 0

3 years ago

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A company purchased a delivery van for $28,000 with a salvage value of $3,000 on September 1, Year 1. It has an estimated useful

Tems11 [23]

Answer:

Depreciation till December 31, Year 1 will be equal to 1,250$

Step-by-step explanation:

Purchasing Cost = 28,000$

Salvage Value = 3,000$

Total Depreciation:

Total Depreciation over 5 years (60 Months) = Purchasing Cost - Salvage Value

Total Depreciation over 5 years (60 Months) = 28,000 - 3,000

Total Depreciation over 5 years (60 Months) = 25,000$

Monthly Depreciation:

Using the unity method we have monthly depreciation by dividing the total depreciation by the total no. of months as below:

Total Depreciation over a single month =25,000/60

Total Depreciation over a single month = 416.67$ (Monthly Depreciation)

Depreciation till December 31, Year 1

As from September 1, Year 1 to December 31, Year 1, its been 3 months therefore total depreciation will be = 3 * Monthly Depreciation

Depreciation till December 31, Year 1 = 3 * 416.67

Depreciation till December 31, Year 1 = 1,250$

4 0

3 years ago