This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: RET Company uses the activity (units-of-production) method to depreciate long-term assets. The ... (Read 59 times)

Jramos095

  • Hero Member
  • *****
  • Posts: 528
on: Jul 5, 2018
RET Company uses the activity (units-of-production) method to depreciate long-term assets. The company owns a truck that cost 24,000. The truck is estimated to have a salvage value of 2,000 and a useful life of 200,000 miles.
 
  How much depreciation expense would be reported on the income statement in a year in which the truck is driven 50,000 miles?
  A) 6,500
  B) 6,000
  C) 5,500
  D) 5,000

Question 2

What is the amount of cost of merchandise sold for the year according to the LIFO method?
 a. 1,380
  b. 1,375
  c. 1,510
  d. 1,250


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

k.lashomb

  • Sr. Member
  • ****
  • Posts: 346
Reply #1 on: Jul 5, 2018
Answer to Question 1

C

Answer to Question 2

c


Jramos095

  • Member
  • Posts: 528
Reply 2 on: Jul 5, 2018
:D TYSM

Bigfoot1984

  • Member
  • Posts: 321
Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

« previous next »
 

Did you know?

Children with strabismus (crossed eyes) can be treated. They are not able to outgrow this condition on their own, but with help, it can be more easily corrected at a younger age. It is important for infants to have eye examinations as early as possible in their development and then another at age 2 years.

Did you know?

Amoebae are the simplest type of protozoans, and are characterized by a feeding and dividing trophozoite stage that moves by temporary extensions called pseudopodia or false feet.

Did you know?

According to animal studies, the typical American diet is damaging to the liver and may result in allergies, low energy, digestive problems, and a lack of ability to detoxify harmful substances.

Did you know?

Fungal nail infections account for up to 30% of all skin infections. They affect 5% of the general population—mostly people over the age of 70.

Did you know?

There are immediate benefits of chiropractic adjustments that are visible via magnetic resonance imaging (MRI). It shows that spinal manipulation therapy is effective in decreasing pain and increasing the gaps between the vertebrae, reducing pressure that leads to pain.

This Black-browed Albatross has been hooked on a long-line. This Black-browed Albatross has been hooked on a long-line.
Glioma. (a) Illustration of a large glioma (colored area) within the left cerebral hemisphere in a s Glioma. (a) Illustration of a large glioma (colored area) within the left cerebral hemisphere in a s
Long-tailed Widowbird Long-tailed Widowbird
Seven black members of Congress in 1871 are from left to right: Senator Hiram Revels (R-MS) and Repr Seven black members of Congress in 1871 are from left to right: Senator Hiram Revels (R-MS) and Repr
Female roundworm. Roundworms have long, cylindrical bodies with a tough covering. Eggs laid by the ... Female roundworm. Roundworms have long, cylindrical bodies with a tough covering. Eggs laid by the ...
Block Diagram of a High Concentrate Nitric Acid System for Dual-Stage Pressure Production of Nitric Block Diagram of a High Concentrate Nitric Acid System for Dual-Stage Pressure Production of Nitric
Video: Wound Cultures

For a complete list of videos, visit our video library