subject
Business, 25.02.2020 04:01 bobiscool3698

Three different companies each purchased trucks on January 1, 2018, for $70,000. Each truck was expected to last four years or 200,000 miles. Salvage value was estimated to be $5,000. All three trucks were driven 66,000 miles in 2018, 41,000 miles in 2019, 39,000 miles in 2020, and 61,000 miles in 2021. Each of the three companies earned $59,000 of cash revenue during each of the four years. Company A uses straight-line depreciation, company B uses double-declining-balance depreciation, and company C uses units-of-production depreciation.

Required a-1.
Calculate the net income for 2018? (Round "Per Unit Cost" to 3 decimal places.) Net Income Company Company Company
a-2. Which company will report the highest amount of net income for 2018?
Company A
Company B
Company C
All of the choices

ansver
Answers: 2

Another question on Business

question
Business, 22.06.2019 11:30
Margaret company reported the following information for the current year: net sales $3,000,000 purchases $1,957,000 beginning inventory $245,000 ending inventory $115,000 cost of goods sold 65% of sales industry averages available are: inventory turnover 5.29 gross profit percentage 28% how do the inventory turnover and gross profit percentage for margaret company compare to the industry averages for the same ratios? (round inventory turnover to two decimal places. round gross profit percentage to the nearest percent.)
Answers: 2
question
Business, 22.06.2019 19:00
Describe how to write a main idea expressed as a bottom-line statement
Answers: 3
question
Business, 23.06.2019 00:30
Which of the following emails should he save in this folder instead of deleting or moving it to another folder
Answers: 1
question
Business, 23.06.2019 02:40
If a country is looking to increase economic growth quickly, it should: choose the correct answer from the following choices, and then select the submit answer button. answer choices focus on natural resources and develop physical capital. make investments from domestic savings and adopt new technology. increase spending on human capital and start a new political approach. develop new technologies funded by the public sector.
Answers: 1
You know the right answer?
Three different companies each purchased trucks on January 1, 2018, for $70,000. Each truck was expe...
Questions
question
Mathematics, 03.10.2020 01:01