Answered: 1) If you buy a 15% per yea Will this c…

Business

Accounting

1) If you buy a 15% per yea Will this c will it take

EBK CFIN

6th Edition

ISBN:9781337671743

Author:BESLEY

Publisher:BESLEY

Chapter10: Project Cash Flows And Risk

Section: Chapter Questions

Problem 5PROB

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Concept explainers

Payroll Entries

Payroll is a comprehensive record of employees that are paid by the company. Payroll classifies employees into various categories according to their function and pays scale (basic wage, allowance, income tax, other taxes, employee loans, etc.). Payroll processes form the bedrock of every organization as it contains sensitive information on the ‘wage and paycheck’ portion of the company’s strength—its employees. The organization needs to keep a track of the employees currently on the payroll, the net payout for the company, the record of transactions related to the employees including deductions and payroll taxes to identify the liability and its effect on the balance sheet (and other financial statements). Payroll records also include qualitative factors such as the conduct of the employee.

Question

Transcribed Image Text:1) If you buy a brand-new car for $21,500.00 that does not become a classic and depreciates 15% per year, what will it be worth in the following amount of years: 1 5 10 20 Will this car ever be "worthless" based on your formula? Approximately how many years will it take to be worth less than: $500 $100 $1

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