What is the Vehicle deduction and remaining UCC on a starting UCC of $15,000.00 for someone who drives 10,000km for business and 16,000km for personal and incurs other vehicle expenses of $10,000 per year?
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- Taxation What is the Vehicle deduction and remaining UCC on a starting UCC of $15,000.00 for someone who drives 10,000km for business and 16,000km for personal and incurs other vehicle expenses of $10,000 per year?From the following data calculate the cost per mile of a vehicle :- Value of vehicle $15,000 Road license for the year $500 Insurance charges per year $100 Garage rent per year $600 Drivers’ wages per month $200 Cost of petrol per litre $0.80 Miles per litre. 8 Proportional charge for tyre and maintenance per mile $0.20 Estimated life 150,000 miles Ignore interest on capital.A company is currently paying its employees $0.51 per mile to drive their own cars when on company business. However, it is considering supplying employees with cars, which would involve the following cost components: car purchase at $22,000 with an estimated three-year life; a net salvage value of $5,000; taxes and insurance at a cost of $1,000 per year; and operating and maintenance expenses of $0.25 per mile. If the interest rate is 10% and the company anticipates an employee's annual travel to be 30,000 miles, what is the equivalent cost per mile (without considering income tax)? Which plan is better?
- DD Company purchases a delivery truck at a cash price of Rs=840,000. Related expenditures are sales taxes Rs= 26,400, painting and lettering Rs=10,000, motor vehicle license Rs= 1200, and a three-year accident insurance policy Rs=30,000. Compute the cost of the delivery truck?After making a down payment of GH¢4000 for an automobile, the municipality paid GH¢400 per month for 36 months with interest charged at 12% per year compounded monthly on the unpaid balance. (i) What was the original cost of the car? (ii) What portion of the Municipality’s total car payments went toward interestBlossom Company incurs these expenditures in purchasing a truck: cash price $20,000, accident insurance (during use) $1,500, sales taxes $1,100, motor vehicle license $200, and painting and lettering $1,600.What is the cost of the truck? The cost of the truck $Enter a dollar amount
- Speed-ee Delivery is purchasing a new truck for its fleet. It pays the following costs at the time of the purchase. Cost Amount Purchase Price $ 60,000 Title Fees 1,800 Sales Tax 4,200 Insurance for the 1st year 3,000 What is the amount that Speed-ee Delivery will record as an Equipment asset for the purchase of the truck?If an SUV purchased in 2018 costs $50,000 and weighs 5,800 pounds, the maximum depreciation expense that can be taken is: $50,000 $18,000 $16,000 $9,600Suppose a new car is purchased for $45,357 and depreciates by 21% over the first year of ownership. If the car is driven 12,470 miles in that year, what is the cost, in dollars per 100 miles driven, for depreciation? (Enter a number. Round your answer to the nearest cent.) dollars per 100 miles)
- What is the cost per mile over the course of a year for a $30000 car that depreciates 20%?A car can be purchased for P650,000 when new. There follows a schedule ofannual operating expenses for each year and trade in values at the end of each year. Assume that these amounts would be repeated for future replacements, and that the car will not be kept more than 3 years. if interest on invested capital is 18% before taxes. Determine at which year's end the car should be replaced so that cost will be minimized.A truck was purchased for $58,000 and depreciates $6560 per year. Suppose that the vehicle is depreciated so that it holds 60% of its value from the previous year. Write an exponential function of the form =yV0bt , where V0 is the initial value and t is the number of years after purchase.