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1.How would contracting with a delivery service impact fixed and variable costs? Assume that you purchased a new delivery truck. Is the cost of the truck or depreciation expense relevant for setting delivery charges and prices?
2.In case an SME decided to purchase a new delivery truck, identify two primary benefits associated with the purchase. Elaborate on the qualitative non-tangible benefits
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Distinguishing Capital Expenditures from Revenue Expenditures Identify the following expenditures as capital expenditures or revenue expenditures:...
Distinguishing Capital Expenditures from Revenue Expenditures Identify the following expenditures as capital expenditures or revenue expenditures: 1.) Immediately after acquiring a new delivery truck, paid $260 to have the name of the store and other advertising material painted on the vehicle. 2.) Painted delivery truck at a cost of $450 after two years of use. 3.) Purchased new battery at a cost of $40 for two-year-old delivery truck. 4.) Installed an escalator at a cost of...
An increasing inventory turnover ratio indicates that a company: has reduced the time it takes to...
An increasing inventory turnover ratio indicates that a company: has reduced the time it takes to purchase and sell inventory. is having trouble selling its inventory. may be holding too much inventory. is selling inventory at a higher than normal profit. For the year ended December 31, ABC Company cost of goods sold was $48,000. Inventory at the beginning of the year was $6,000. Ending inventory was $10,000. Compute inventory turnover for the year. 8.0 4.8 8.4 6.0 Firms are...
thank you! Billboa Freightlines, S.A. of Panama, has a small truck that it uses for Intracity...
thank you!
Billboa Freightlines, S.A. of Panama, has a small truck that it uses for Intracity deliveries. The truck is worn out and must be eſther overhauled or replaced with a new truck. The company has assembled the following information: Purchase cost (new) Remaining book value Overhaul needed now Annual cash operating costs Salvage value-now Salvage value-five years from Present New Truck Truck $28,000 $30,000 $15,000 $14,000 $14,500 $13,000 $10,000 $ 9,000 $12,000 non If the company keeps and overhauls...
This Question: 5 pts 1 of 2 (0 complete) It's three months before the end of...
This Question: 5 pts 1 of 2 (0 complete) It's three months before the end of the financial year and Leo Murphy, owner and operator of Murph's Trucking, has just purchased a new truck for his cattle and hay hauling business. Costs incurred are as indicated below: (Click the icon to view the costs incurred.) Leo estimates a useful life for the truck of 10 years, at which time it could be sold for $17,000, he reckons. Leo's plan, however,...
droon x cost of assets 6. During 2017 and 2018, Superb Bhd. drove their truck 15.000...
droon x cost of assets 6. During 2017 and 2018, Superb Bhd. drove their truck 15.000 and 22,000 miles, respectively, to deliver supplies to their customers. If they originally purchased the truck at the beginning of 2010 for RM175,000 and the truck has an estimated life of 10 years and 320,000 miles with an estimated residual value of RM15,000. what amount of depreciation expense should Superb record in 2018 using the unit of production method A. RM11,000 B. RM18,500 22000...
Accounting for Plant Assets Stellar Delivery Service had the following transactions related to its delivery truck:...
Accounting for Plant Assets Stellar Delivery Service had the following transactions related to its delivery truck: Year 1 Mar. 1 Purchased for $81,250 cash a new delivery truck with an estimated useful life of five years and a $17,125 salvage value. Mar. 2 Paid $1,500 for painting the company name and logo on the truck. Dec. 31 Recorded depreciation on the truck for the year. Year 2 July 1 Installed air conditioning in the truck at a cost of$4,520 cash....
Description: You are consulting for the Kentucky Truck Plant Manager, Fergie Ferguson. Fergie is considering automating...
Description: You are consulting for the Kentucky Truck Plant Manager, Fergie Ferguson. Fergie is considering automating a major portion of the manufacturing process. She has provided you with as much data as she has. She has asked for to help her to determine which alternative, status quo or automation, will enhance the profitability of her plant. Fergie is also concerned that the automated process might change the end-of-year planned Raw Material, Work-in-Process, and Finished Goods inventory that will be on...
1- Bates Co. has a $300,000 balance in Accounts Receivable and a $4,000 debit balance in...
1- Bates Co. has a $300,000 balance in Accounts Receivable and a $4,000 debit balance in Allowance for Doubtful Accounts. Credit sales for the period totaled $1,800,000. What is the amount of the bad debt adjusting entry if Bates uses a percentage of credit sales basis (at 2%) or a percentage of receivables basis (at 10%)? 2. The following information is available for Moon Co. - Sales = $130,000; Ending Inventory = $12,000; Purchases = $90,000: Freight-In = $10.000; Purchases...
Karane Enterprises, a calendar-year manufacturer based in College Station, Texas, began business in 2017. In the...
Karane Enterprises, a calendar-year manufacturer based in College Station, Texas, began business in 2017. In the process of setting up the business, Karane has acquired various types of assets. Below is a list of assets acquired during 2017: Asset Cost Date Placed in Service Office furniture $ 150,000 02/03/2017 Machinery 1,560,000 07/22/2017 Used delivery truck* 40,000 08/17/2017 *Not considered a luxury automobile. During 2017, Karane was very successful (and had no §179 limitations) and decided to acquire more assets this...
Delivery Service Express (DSE) has a fleet of trucks and specializes in the delivery of refrigerated...
Delivery Service Express (DSE) has a fleet of trucks and specializes in the delivery of refrigerated foods. The warehouse manager purchased a delivery truck for $240,000. Part of the job of the Chief Financial Officer (CFO) is to depreciate the delivery truck over its estimated useful life. The CFO is considering three depreciation methods activity based, straight line, and double declining balance The CFO has plotted depreciation each year left graph) using an estimated five year useful life. The right...
An increasing inventory turnover ratio indicates that a company: has reduced the time it takes to purchase and sell inventory. is having trouble selling its inventory. may be holding too much inventory. is selling inventory at a higher than normal profit. For the year ended December 31, ABC Company cost of goods sold was $48,000. Inventory at the beginning of the year was $6,000. Ending inventory was $10,000. Compute inventory turnover for the year. 8.0 4.8 8.4 6.0 Firms are...
thank you!
Billboa Freightlines, S.A. of Panama, has a small truck that it uses for Intracity deliveries. The truck is worn out and must be eſther overhauled or replaced with a new truck. The company has assembled the following information: Purchase cost (new) Remaining book value Overhaul needed now Annual cash operating costs Salvage value-now Salvage value-five years from Present New Truck Truck $28,000 $30,000 $15,000 $14,000 $14,500 $13,000 $10,000 $ 9,000 $12,000 non If the company keeps and overhauls...
This Question: 5 pts 1 of 2 (0 complete) It's three months before the end of the financial year and Leo Murphy, owner and operator of Murph's Trucking, has just purchased a new truck for his cattle and hay hauling business. Costs incurred are as indicated below: (Click the icon to view the costs incurred.) Leo estimates a useful life for the truck of 10 years, at which time it could be sold for $17,000, he reckons. Leo's plan, however,...
droon x cost of assets 6. During 2017 and 2018, Superb Bhd. drove their truck 15.000 and 22,000 miles, respectively, to deliver supplies to their customers. If they originally purchased the truck at the beginning of 2010 for RM175,000 and the truck has an estimated life of 10 years and 320,000 miles with an estimated residual value of RM15,000. what amount of depreciation expense should Superb record in 2018 using the unit of production method A. RM11,000 B. RM18,500 22000...
1- Bates Co. has a $300,000 balance in Accounts Receivable and a $4,000 debit balance in Allowance for Doubtful Accounts. Credit sales for the period totaled $1,800,000. What is the amount of the bad debt adjusting entry if Bates uses a percentage of credit sales basis (at 2%) or a percentage of receivables basis (at 10%)? 2. The following information is available for Moon Co. - Sales = $130,000; Ending Inventory = $12,000; Purchases = $90,000: Freight-In = $10.000; Purchases...
Delivery Service Express (DSE) has a fleet of trucks and specializes in the delivery of refrigerated foods. The warehouse manager purchased a delivery truck for $240,000. Part of the job of the Chief Financial Officer (CFO) is to depreciate the delivery truck over its estimated useful life. The CFO is considering three depreciation methods activity based, straight line, and double declining balance The CFO has plotted depreciation each year left graph) using an estimated five year useful life. The right...
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