Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

16. A company purchased a delivery truck for $60.000. It is estimated that the truck wil have a $ 10.000 residual value at the end

image text in transcribed
16. A company purchased a delivery truck for $60.000. It is estimated that the truck wil have a $ 10.000 residual value at the end of its estimated 5-year us e . If the company uses the double diminishing-balance method of depreciation, the amount of anual depreciation recorded for the second year after purchase would be AS9800 b) 24000 S 14400 d) $12.000 17. A factory machine was purchased for 20.000 on March 1, 2021 at would have as 4000 residual weathe and of year estimated that machine would be run 25.000 hours in the years the actual number of machine hors 2021 0 00 hours and the company uses the of production method of depreciation. The amount of depreciation expense for 2021 a) 2133 b) $2.500 3.200 $ 4 000 18. The ca tion of depreciation using the diminishing balance method a) ignores residual value in determining the amount to which a constant is applied multiples a constant percentage times the previous year's depreciation expense c) yelds an increasing depreciation expense each period d. multiples a diminishing percentage times a constant carrying amount 19. Which of the following methods of depreciation results in the highest cash flow? a) straigne b) dishing balance cuns-o production d) all of these result in the same cash low 20. is appropriate to stop recording depreciation expense when the st's a) depreciable costs less than it for value b) carrying amount exceeds fair value c) carrying amount as its residual value d) residual value equal total accumulated depreciation 21. A current is a debt that can reasonably be expected to be paid al within one year bbw months and 18 months of our recognized revenues out of c urrently on and 22. Custo Bar agrees to lend Sunny Son Company 30.000 on January 1. Buy Screen Company was a 80.000.-month. What is the ting y edi Sunny Son Company preparaci o n June 302 Page MacBook Pro

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

People Centric Skills Interpersonal And Communication Skills For Financial Professionals

Authors: Danny M. Goldberg

2nd Edition

1119669308, 978-1119669302

More Books

Students also viewed these Accounting questions

Question

Describe three other types of visual aids.

Answered: 1 week ago