Determine if each item below is a traceable or a common fixed cost. Depreciation on equipment used only by one segment Multiple Choice O O Traceable fixed cost Common fixed cost
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- Calculate Lopez Enterprises' gross profit at a CFAT of $2.5 million, $900,000 in expenses, $900,000 in depreciation costs, and a 26.4% effective tax rate.Suppose that you placed a commercial building (warehouse) in service inJanuary. The cost of property is $300,000, which includes the $100,000 value of land. Determine the amount of depreciation that is allowed during the first year of ownership.(a) $7,692(b) $5,128(c) $7,372(d)$4,915Compute the interest paid on a 4-year lease for a $27,671 car if the annual rate of depreciation is 12% and the lease's annual interest rate is 4.3%.
- An equipment costs $12,000 and can be sold at the end of 5 years for $300. What is the depreciation for year 3 if the sum of years’ digits depreciation method was used? (THIS IS ECONOMCS QUESTION DONT SKIP UNDER ANY OTHER SUBJECT) OTHERWISE WILL DOWNVOTE a. $2,340 b. $2,000 c. $3,200 d. $1,656A): Calculate the total cost, total depreciation, and annual depreciation (in $) for the following assets by using the straight-line method. (Round your answers to the nearest cent.) *chart attached* B): Mason Industries purchased a drilling rig for $75,900. Delivery costs totaled $2,831. The useful life is 7 years and the salvage value is $12,938. Prepare a depreciation schedule using the straight-line method. *CHART ATTACHED*i will 10 upvotes do not use chatgpt urgent Which of the following statement correctly describes 'depreciation' ? (a) It is a monthly allowance for wear and tear of a capital good. (b) It is based on the demand and supply of consumer goods in market. (c) It is calculated as the cost of good divided by number of years of its useful life. (d) It accounts for sudden destruction of capital caused due to natural calamities.
- An asset costs $150,000 and has a salvage value of $15,000 after 10 years.What is the depreciation charge for the 4th year, and what is the book value atthe end of the 8th year with(a)Straight-line depreciation?(b)Double declining balance depreciation?You have started a business and purchased a new truck (asset class 00.22). The cost basis for depreciation purposes is $175,000. Salvage value at year six is $20,000. ***Assume it will be depreciated under the GDS: a. What is the MACRS depreciation in the third year? b. What is the cumulative depreciation through the end of year three? C.What is the BV at the end of third year if the equipment is disposed of at that time? d. What will be the gain(loss) for tax if you sell the equipment for $40,000 at the end of year three?A trucking company computes depreciation on its vehicles by a mileage basis.Suppose a delivery truck has a cost of $20.000. a sa lvage value of $2.000. andan estimated useful life of 200.000 miles. Determine the depreciation rateper mile.(a) $0.08(b) $0.09(c) $0.10(d) $0.11
- 37. Vince purchased a 2008 used car for $15,300. This make and model usedcar straight line depreciates to zero in 8 years. Identify the x- and yintercepts for the depreciation equation. A. (2,008, 0) and (0, 15,300)B. (0, 15,300) and (8, 0)C. (15,300, 0) and (0, 8)D. (15,300, 0) and (0, 2,008)The “Big-Deal” Company has purchased new furniture for their offices at a retail price of $125,000. An additional $20,000 has been charged for insurance, shipping, and handling. The company expects to use the furniture for 10 years (useful life = 10 years) and then sell it at a salvage (market) value of $15,000. Use the SL method of depreciation to answer these questions. a. What is the depreciation during the second year? b. Whatisthe BVoftheasset at the end of the first year? c. What is the BV of the asset after 10 years?6 For a seven year class asset costing $150,000 according to MACRS, how much is the third year depreciation? a. $36,735 b. $26,235 c. $18,735 d. None of the provided results is correct e. $21,435
