How much would her accumulated depreciation account have

Assignment Help Accounting Basics
Reference no: EM132195329

Question - Stevie bought a new pickup for $40,000 for use in her business. She estimates the truck will be useful to her for five years and then will be worth $4,000. During its useful life, she estimates it will travel 200,000 miles for business. If she uses the activity-based depreciation method, and she drove 50,000 miles in the first year and 40,000 miles in the second year, how much would her accumulated depreciation account have in it at the end of the second year?

Reference no: EM132195329

Questions Cloud

How much of the purchase price should be debited to goodwill : The company's assets are valued at $2,000,000, and its liabilities are valued at $1,200,000. How much of the purchase price should be debited to goodwill
What is the annual amount of depreciation : What is the annual amount of depreciation that should be recognized using the straight-line depreciation method
Own communication tendencies : What can you do to be cognizant of your own communication tendencies? How can you be sure to communicate appropriately with others?
Formulating the optimization and constraint functions : Formulating the optimization and constraint functions for 4 types of bottled water products
How much would her accumulated depreciation account have : Stevie bought a new pickup for $40,000 for use in her business. How much would her accumulated depreciation account have in it at the end of the second year
Define leadership skills and develop plan for moving forward : This paper will allow you to examine your leadership skills and develop a plan for moving forward. Analyze your current leadership skills based.
What will be the depreciation expense at december : An asset having a four-year service life and a salvage value of $15,000 was acquired, what will be the depreciation expense at December 31, 2018
Why that company has been successful : Select a global company that has been successful over the last ten years (one that is not your selected strategic audit firm).
Create a complete communications plan : For the same company you selected in Module 3, create a complete Communications Plan with an accompanying PowerPoint presentation for key stakeholder group(s).

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much money will sydney ltd borrow in june

Sydney Ltd has a policy of maintaining a minimum cash balance of $20,000 and borrows only in $1,000 increments. How much money will Sydney Ltd borrow in June

  Find out the tax consequences

Put in holding company in exchange for 1 million in p/s and 800,000 in debt, what are the tax consequences?

  Cato is a cma working in a new assignment as an assistant

cato is a cma working in a new assignment as an assistant to rose. rose is the head manager of a production department.

  The waverly company has budgeted sales

The ending inventory of finished goods for each quarter should equal 25% of the next quarter's budgeted sales in units. The finished goods inventory at the start of the year is 5,000 units.

  Determine what kuhn company wacc

Flotation costs will represent 3% of the funds raised by issuing new common stock. The company is projected to grow at a constant rate of 8.7%, and they face a tax rate of 40%. Determine what Kuhn Company's WACC will be for this project.

  Discuss why it is necessary for accountants to assume that

discuss why it is necessary for accountants to assume that an economic entity will remain a going concern. if an entity

  Price comparisons on competing airlines

You are employed by Sunshine Airlines and your boss has asked you to do some price comparisons on competing airlines. Once you gather the data, you are required to prepare a business memo to your boss, Mr. Smith, with your findings.

  Prepare a cash distribution plan as of september

Prepare a cash distribution plan as of September 30, 2009, showing how much cash each partner will receive if the offer to sell the assets is accepted

  Assume the partnership income-sharing agreement calls for

aikman beginning capital 60000 and rory beginning capital 90000 are partners. during 2012 the partnership earned net

  How much was collected in month

If They collect 60% of Sales in the month of the sale and the other 40% in the following month, how much was collected in Month 2

  Builder bug company allocates overhead at 9 per direct

builder bug company allocates overhead at 9 per direct labor hour. job a45 requires 5 boxes of direct materials at a

  Discuss relevant shareholders of the transactions described

Indicate the tax consequences to the relevant shareholders of the transactions described in each of the following independent Cases

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!

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