User Account

All Pages

Calculate the depreciation for March and April

Assignment Help Accounting Basics
Reference no: EM132576603

Question - You must show your work when answering the problem

The company bought a delivery truck for their business. They use the activity depreciation method and gave you the following data Date of purchase 1-Jan-19

Cost of truck $62,000

Salvage value $4,000

Total miles for the life of the truck 200,000

Miles driven in March 2019 2,100

Miles driven in April 2019 2,800

Required -

a. Calculate the depreciation per mile.

b. Calculate the depreciation for March and April.

c. Prepare the depreciation journal entry for March.

Reference no: EM132576603

Questions Cloud

What are rego-fix uses : What are Rego-Fix uses? Rego-Fix has reduced setup time and change-over costs through the establishment of small, self-contained production units with teams
What would be the new eva amount : What would be the new EVA amount if capital structure of the company is 70% debt and 30% equity?CarKing is a company in the luxury car industry.
Find the Bennett basis in Fedderman shares : Fedderman made a cash distribution of $2,200 to Bennett on January 30, 20X1. Find the Bennett's basis in Fedderman shares for determining gain or loss
Compute missing amounts on company financial statements : Compute the missing amounts on the company's financial statements. (Hint: What's the difference between the acid-test ratio and the current ratio?)
Calculate the depreciation for March and April : The company bought a delivery truck for their business. Calculate the depreciation for March and April. Prepare the depreciation journal entry for March
Generic principles for competitive advantage model : Describe Michael Porter's Generic Principles for Competitive Advantage model. Explain use of Michael Porter's Generic Principles model in strategy formulation
Compute the unit product cost that would appear on the job : Job 243 was recently completed. Compute the unit product cost that would appear on the job cost sheet for this job. (Round your answer to 2 decimal places.)
Capitalizable on a six-monthly basis : Based on a rate of 3% per quarterly period. With which equal payments at the end of 2 years and at the end of 5 years, it is possible to replace the following o
How much total interest will Headland pay : Headland Excavating Inc. is purchasing a bulldozer. The equipment has a price of $103,600. How much total interest will Headland pay

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Theory of interest - term structure of interest rates

Term Structure of Interest Rates

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd