Business, 25.03.2020 17:36, DerekMoncoal
On January 1, Year 1, Raven Limo Service, Inc. paid $64,000 cash to purchase a limousine. The limo was expected to have a six year useful life and a $10,000 salvage value. On January 1, Year 5 the limo was sold for $30,000 cash. Assuming Raven uses straight-line depreciation, the Company would recognize a:.
a. $2,000 loss.
b. $2,000 gain.
c. $20,000 loss.
d. $20,000 gain.
Answers: 3
Business, 22.06.2019 01:00, Travon1418
Azster inc. recorded sales revenue for the year that ended december 31, 2014 as $67,000. interest revenue of $5,300 and expenses of $14,000 were also recorded for the same period. what is asterβs net profit or loss?
Answers: 3
Business, 22.06.2019 01:30, rome58
The gomez company, a merchandising firm, has budgeted its activity for december according to the following information: β’ sales at $500,000, all for cash. β’ merchandise inventory on november 30 was $250,000. β’ the cash balance at december 1 was $20,000. β’ selling and administrative expenses are budgeted at $50,000 for december and are paid for in cash. β’ budgeted depreciation for december is $30,000. β’ the planned merchandise inventory on december 31 is $260,000. β’ the cost of goods sold represents 75% of the selling price. β’ all purchases are paid for in cash. the budgeted cash disbursements for december are:
Answers: 3
Business, 22.06.2019 02:00, raylynnreece4939
Precision dyes is analyzing two machines to determine which one it should purchase. the company requires a rate of return of 15 percent and uses straight-line depreciation to a zero book value over the life of its equipment. ignore bonus depreciation. machine a has a cost of $462,000, annual aftertax cash outflows of $46,200, and a four-year life. machine b costs $898,000, has annual aftertax cash outflows of $16,500, and has a seven-year life. whichever machine is purchased will be replaced at the end of its useful life. which machine should the company purchase and how much less is that machine's eac as compared to the other machine's
Answers: 3
Business, 22.06.2019 15:20, ashleyuchiha123
Gulliver travel agencies thinks interest rates in europe are low. the firm borrows euros at 5 percent for one year. during this time period the dollar falls 11 percent against the euro. what is the effective interest rate on the loan for one year? (consider the 11 percent fall in the value of the dollar as well as the interest payment.)
Answers: 2
On January 1, Year 1, Raven Limo Service, Inc. paid $64,000 cash to purchase a limousine. The limo w...
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