please help me Flowerworks Corporation purchases a vehicle for $32,800 to deliver flowers to the surrounding community. Flowerworks estimatesthat at the end of its four-year useful life, the delivery vehicle will be worth $4,800. During the four-year period, the company plans todrive the vehicle 175,000 miles.Actual miles driven each year were 45,000 miles in year 1 and 53,000 miles in year 2.Required:Calculate annual depreciation for the first two years of the vehicle using each of the following methods. (Do not round yourintermediate calculations.)1. Straight-line.AnnualYearDepreciation12. Double-declining-balance.AnnualDepreciationYear13. Activity-based.AnnualYearDepreciation1 Fresh Tomato Company purchased all the outstanding common stock of Fincel Corn Company for $35,000,000 in cash. Following arethe book values and fair values of Fincel's assets and liabilities:Fair Value$13,000,000 $16,000,00033,400,0005,600, 0009,000,00015,000,000Book ValueCurrent assetsProperty, plant, and equipmentOther assetsCurrent liabilitiesLong-term liabilities27,400,0004,600,0009,000, 00016,000,000Required:Calculate the amount paid for goodwill. (Enter your answer in millions (i.e. 5,000,000 should be entered as 5).)Amount paid for goodwillmillion

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Flowerworks Corporation purchases a vehicle for $32,800 to deliver flowers to the surrounding community. Flowerworks estimates that at the end of its four-year useful life, the delivery vehicle will be worth $4800. During the four-year period, the company plans to drive the vehicle 175,000 miles. Actual miles driven each year were 45,000 miles in year 1 and 53,000 miles in year 2. Required: Calculate annual depreciation for the first two years of the vehicle using each of the following methods. (Do not round your intermediate calculations.) 1 Straicht-line

Flowerworks Corporation purchases a vehicle for $32,800 to deliver flowers to the surrounding community. Flowerworks estimates that at the end of its four-year useful life, the delivery vehicle will be worth $4800. During the four-year period, the company plans to drive the vehicle 175,000 miles. Actual miles driven each year were 45,000 miles in year 1 and 53,000 miles in year 2. Required: Calculate annual depreciation for the first two years of the vehicle using each of the following methods. (Do not round your intermediate calculations.) 1 Straicht-line

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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