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wariber [46]
1 year ago
5

Bonita Corporation purchased a truck at the beginning of 2020 for $54,500. The truck is estimated to have a salvage value of $2,

180 and a useful life of 174,400 miles. It was driven 25,070 miles in 2020 and 33,790 miles in 2021. Compute depreciation expense using the units-of-production method for 2020 and 2021.
Business
1 answer:
eduard1 year ago
5 0

Answer: depreciation expense for 2020 and 2021= $7, 521 and$10,137 respectively.

Explanation:

Depreciation  cost = Purchase cost - Salvage value

= $54,500 - $2, 180

= $52,320

Given that useful life = 174,400 miles, we have that the

Depreciation per mile = Depreciation cost / useful life in miles

=$52,320/174,400 = $0.30 per mile

2020 Depreciation expense  = 25, 070 X $0.30 = $7, 521

2021 Depreciation expense  = 33,790 X  $0.30 = $10,137

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olchik [2.2K]

Steve is good at setting up and managing groups of computers for large cities. In which Information Technology career pathway is he most likely to get a job? Steve would most likely get a job in the computer engineering career field if he is good at setting up and managing groups of computers for large cities. This type of job requires someone who is computer savvy, understands what could happen and how to fix it so a large company that runs in large cities are not without computer access for too long. A computer engineer designs and develops computer systems and other tech devices.

5 0
2 years ago
Read 2 more answers
During 2019, Sigma Company earned service revenue amounting to $700,000, of which $630,000 was collected in cash; the balance wi
Kryger [21]

Answer:

$700,000

Explanation:

As we know that

The income statement is the statement that records the income and the expenditure for a company

The expenses should be shown on debit side while the income or revenue is shown on the credit side

Since the total service revenue earned is $700,000 and the same is to be shown in the income statement as it records all the cash and credit sales or service revenue

Therefore, the total amount i.e $700,000 is reported on the income statement

4 0
2 years ago
The Office Supplies account had a balance at the beginning of year 3 of $4,000 (before the reversing entry). Payments for purcha
snow_lady [41]

Answer:

a. Office Supplies Expense a/c Dr. $750

Explanation:

We are provided that office supplies are recorded as an expense, in that case entry will be:

Office Supplies Expense A/c Dr.

                 To Cash A/c

After this, there is a valuation of closing balance of supplies in hand.

As per books = $4,000

As per inventory of supplies in hand = $4,750

The difference = $4,750 - $4,000 = $750

This will be recorded in Office supplies expense as in this account only the supplies are recorded.

Therefore correct option is

a. Office Supplies Expense a/c Dr. $750

4 0
2 years ago
Botox Facial Care had earnings after taxes of $340,000 in 20X1 with 200,000 shares of stock outstanding. The stock price was $74
scoundrel [369]

Answer:

$1.7; 44 times

Explanation:

a) EPS(20X1):

= Earnings after taxes / Number of shares

= $340,000 / 200,000

= $1.7

P/E ratio(20X1):

= Price / EPS

= $74.80 / $1.7

= 44 times

EPS(20X2):

= Earnings after taxes / Number of shares

= $378,000 / 200,000

= $1.89

P/E ratio(20X2):

= Price / EPS

= $83.00 / $1.89

= 43.92 times

3 0
2 years ago
Codes of conduct (ethics) are formalized rules and standards that describe what the company expects of its employees in terms of
Ludmilka [50]

Answer:

True

Explanation:

The codes of conduct are the set or collection of conduct in an organisation that are specified for the particular organisation. These conducts may be following:

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These codes of conducts are to be followed by the individuals associated with organisation.

4 0
2 years ago
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