A$+$ Company had sales revenue of $$2,600,000$ and cost of goods sold $$1,200,000.$ In addition, the company had delivery expense of $$200,000$ and purchased a computer for $$2,500.$ What is A$+$ Companies Gross Profit?

A$+$ Company Gross Profi

Irons Delivery Inc. purchased a new delivery truck for $$45,000$ on January $1,2023.$ The truck is expected to have a $$3,000$ residual value at the end of its $5-$year useful life. Irons uses the straight$-$line method of depreciation.

What is the depreciation expense in the second year? $q,$ as$,$ wim$-30005$

What is the book value of the delivery truck after year $2?q,$

$3.$ The Golden Rule for Accounting is the Expanded Accounting Equation. Please demonstrate the expanded accounting equation and indicate normal balance of the accounts.

$4.$ Smithy and Co$.$ Purchased a delivery truck in $2020.$ The cost of the truck was $$20,000.$ During the past three years the company recorded $$7,200$ in accumulated depreciation on the truck. Smithy and Co$.$ received a check from the buyer for $$12,000.$ Prepare the general journal entry for Smithy and Co$.$ to record the disposal of delivery truck.

$5.$ Smithy Company acquired a tract of land that contained a diamond mine for $$2,500,000.$ Smithy estimates that $2,000,000$ pounds of diamonds will be extracted. During the current year, Smithy extracts $150,000$ pounds of diamonds.

Compute the depletion rate $q,$

$q,$

Compute the current year depletion $q,$

$q,$