Cullumber Company purchased a delivery truck for $48,000 on July 1, 2022. The truck has an expected salvage value of $10,000, and is expected to be driven 100,000 miles over its estimated useful life of 8 years. Actual miles driven were 15,000 in 2022 and 12,000 in 2023. Cullumber uses the straight-line method of depreciation. Prepare the journal entry to record 2022 depreciation.
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “Cullumber Company purchased a delivery truck for $48,000 on July 1, 2022. The truck has an expected salvage value of $10,000, and is ...” in 📘 Business if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers
You Might be Interested in
Chen Inc. accepted a two-year noninterest-bearing note for $605,000 on January 1, 2021. The note was accepted as payment for merchandise with a fair value of $500,000. The effective interest rate is 10%.
Answers (1)
The time between the disabling event and the beginning of payments in your disability coverage is called
Answers (1)
The number of employees in a company is reduced in the ratio 3 : 2 and the salary of each employee is increased in the ratio 4 : 5. By doing so, company saves Rs. 12,000. So, find the initial expenditure of the company on salary.
Answers (1)
A full-time worker aged 2525 invests $250250 a month in a fund which has an average yearly return of 7.27.2 % compounded monthmonthly.
Answers (1)
In a user needs assessment project, although managers may not work with a system on a daily basis, their input needs to be considered because they may make the final decision on a project. Group of answer choices
Answers (1)
New Questions in Business
The general manager of a yacht club is conducting a SWOT analysis. One of the items he has listed is that all of his department managers have either just completed or are in the process of completing the Manager in Development program from the Club
Answers (1)
Your brother has asked you for a loan and has promised to pay you $9,800 at the end of three years. If you normally invest to earn 6.
Answers (1)
A relatively low saving rate affects productivity growth by: a. decreasing consumption spending and increasing investment in human capital. b. reducing the tax base and preventing the government from providing public goods. c.
Answers (2)
According to the terminology associated with changes in currency values, which of the following choices is the case when a currency's value relative to other currencies is changed by a government? A) depreciation and revaluation.
Answers (1)
Randolf, a wealthy connoisseur of arts, was invited to an art exhibition. He became very interested in one of the showcased paintings and approached the manager to buy the piece.
Answers (2)