Chantal Jones purchased a new two-door coupe for $24,590 two years ago. She drove 14,322 miles last year and kept a record of all auto expenses. She estimates the vehicle's present value at $19,219. Calculate her (a) depreciation, (b) total variable costs, (c) total fixed costs, and (d) cost per mile to operate her vehicle last year. Variable Costs Fixed Costs Gasoline $985.00 $1,576.24 Insurance Oil Changes 71.85 License/registration 125.63 Maintenance 380.30 154.36 Loan Interest Cleaning, tolls and Parking 322.65 Depreciation Total Total b. S a. C. S

Chantal Jones purchased a new two-door coupe for $24,590 two years ago. She drove 14,322 miles last year and kept a record of all auto expenses. She estimates the vehicle's present value at $19,219. Calculate her (a) depreciation, (b) total variable costs, (c) total fixed costs, and (d) cost per mile to operate her vehicle last year. Variable Costs Fixed Costs Gasoline $985.00 $1,576.24 Insurance Oil Changes 71.85 License/registration 125.63 Maintenance 380.30 154.36 Loan Interest Cleaning, tolls and Parking 322.65 Depreciation Total Total b. S a. C. S

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

Bob bought some land costing $15,390. Today, that same land is valued at $44,817. How long has Bob owned this land if the price of land has been increasing at 5 percent per year? Multiple Choice: 13.87 years 14.56 years 24.09 years 22.94 years 21.91 years
Kristen Lu purchased a used automobile for $10,100 at the beginning of last year and incurred the following operating costs: Depreciation ($10,100 ÷ 5 years) Insurance Garage rent Automobile tax and license Variable operating cost $ 2,020 $ 1,100 $ 500 $ 280 $ 0.11 per mile The variable operating cost consists of gasoline, oil, tires, maintenance, and repairs. Kristen estimates, at her current rate of usage, the car will have zero resale value in five years, so the annual straight-line depreciation is $2,020. The car is kept in a garage for a monthly fee. Required: 1. Kristen drove the car 13,000 miles last year. Compute the average cost per mile of owning and operating the car. Note: Round your answers to 2 decimal places. × Answer is complete but not entirely correct. Average fixed cost per mile $ 0.30 Variable operating cost per mile $ 0.41 Average cost per mile $ 0.71
A-5
N3
Please don't provide answers in image formate thank you. A farmer buys a new tractor for $152,000 and assumes that it will have a trade-in value of $87,000 after 10 years. The farmer k the tractor. (A) Find a linear model for the depreciated value V of the tractor t years after it was purchased. V=-6500t + 152000 (B) What is the depreciated value of the tractor after 6 years? The depreciated value of the tractor after 6 years is $
Please help me. Thankyou.
A personal computer that originally cost $5,000 has no estimated salvage value and was depreciated at the rate of 20% a year. At the end of the third year, the computer was sold for $1,500 cash. The transaction would result in a a. loss of $1,500. Ob. gain of $250. Oc. loss of $250. Od. gain of $1,500.
11 Nicanor bought a car ten years ago costing Php 1,000,000.00. For income tax purposes, the car is full depreciated. Scrap value is 10% of cost as indicated in records. A person engaged in buying or selling valued the property at php 70,000. A buyer is willing to pay for php 50,000.00. What is the value to be used in computing estate tax? a. 0 b. 50,000 c. 100,000 d. 70,000 provide solution pls
Please help me with show all calculation thanku
I need help with C A) $151200 B)50803.2
Kristen Lu purchased a used automobile for $8,350 at the beginning of last year and incurred the following operating costs: Depreciation ($8,350 ÷ 5 years) $ 1,670 Insurance $ 900 Garage rent $ 500 Automobile tax and license $ 230 Variable operating cost $ 0.11 per mile The variable operating cost consists of gasoline, oil, tires, maintenance, and repairs. Kristen estimates that, at her current rate of usage, the car will have zero resale value in five years, so the annual straight-line depreciation is $1,670. The car is kept in a garage for a monthly fee. Required: 1. Kristen drove the car 11,000 miles last year. Compute the average cost per mile of owning and operating the car. (Round your answers to 2 decimal places.)
Solve the problem