business math

A truck costing $25,000 with a residual value of $5,000 was purchased by Rim Corporation. The truck’s estimated life is 10 years. At the end of Year 2, what is the book value using declining-balance method? Assume a depreciation rate of twice the straight-line method.

  1. 👍
  2. 👎
  3. 👁

Respond to this Question

First Name

Your Response

Similar Questions

  1. accounting

    Ziegler Corporation purchased 25,000 shares of common stock of the Sherman Corporation for $40 per share on January 2, 2010. Sherman Corporation had 100,000 shares of common stock outstanding during 20 I3, paid cash dividends of

  2. business math

    A truck costs $35,000 with a residual value of $2,000. Its service life is five years. Using the declining-balance method at twice the straight-line rate, the book value at the end of 2 years is?

  3. Business Math

    Lena Horn bought a Toyota Tundra on January 1 for $30,000 with an estimated life of 5 years. The residual value of the truck is $5,000. Assume a straight-line method of depreciation. a. What will be the book value of the truck at

  4. statistics

    The data set represents the income levels of the members of a country club. Estimate the probability that a randomly selected member earns at least $98,000. 112,000 126,000 90,000 133,000 94,000 112,000 98,000 82,000 147,000

  1. math, depreciation

    A workcenter system purchased at a cost of $60,000 in 2015 has a scrap value of $12,000 at the end of 4 years. If the straight-line method of depreciation is used. a) find the rate of depreciation. b) Find the linear equation

  2. Math

    A company purchases a new delivery truck for $20,000 the truck is expected to have a useful life of 90,000 miles before replacement,and a salvage value of $2,000.In its first year the truck was driven 22,000 miles and a further

  3. accounting

    A machine costing $85,000 with a 5-year life and $5,000 residual value was purchased January 2, 2011. Computed depreciation for the first year, using the double declining-balance(DDB) method would be what?

  4. math

    Freitas Corporation was organized early in 2009. The following expenditures were made during the first few months of the year: Attorneys' fees in connection with the organization of the corporation $12,000 State filing fees and

  1. math

    1. Number Sense: write three numbers that are greater than 1,543,000 and less than 1,544,000 2. Put the planets in order from the one closest to the sun to the one farthest from the sun. Earth 93,000,000 Jupiter 483,000,000 Mars

  2. accounting

    A company purchased a machine on January 1 of the current year for $750,000. Calculate the annual depreciation expense for each year of the machine's life (estimated at 5 years or 20,000 hours, with a salvage value of $75,000).

  3. accounting

    The following transactions occurred during March 2009 for the Wainwright Corporation. The company owns and operates a wholesale warehouse. 1. Issued 30,000 shares of common stock in exchange for $300,000 in cash. 2. Purchased

  4. Straight-line

    A truck costs $35,000 with a residual value of $2,000. Its service life is five years. Using the declining-balance method at twice the straight-line rate, the book value at the end of 2 years is?

You can view more similar questions or ask a new question.