Question 1
What is the amount of double declining
Balance depreciation, for year 4, if the cost of an asset is
$75,000, the useful life is 5 years, and the salvage
value is $4,000.
Question 2
What is the amount of double declining
balance
depreciation, for year 3, if the cost of an asset is
$75,000, the useful life is 5 years, and the salvage
value is $4,000.
Question 3
What type of business entity is formed when the
owners desire to have thousands of owners, raise
capital through the sale of stock, has liability
protection for its owner, and does not make a
special election?
Question 4
What is the amount of doubledeclining
balance
depreciation, for year 1, if the cost of an asset is
$75,000, the useful life is 5 years, and the salvage
value is $4,000.
Question 5
ABC Company had the following information
regarding their accounts. Increase in accounts
receivable of $10,200? decrease in supplies of
$3,100? gains on sale of equipment of $7,400?
losses on sales of equipment of $630? net income of
$63,150? increase in accounts payable of $3,500,
and depreciation of $12,340. In addition, expected
capital expenditures are $12,000 and dividends are
$7,500. What is the free cash flow?
Question 6
What type of business entity makes a special
election, and is generally created for the public
good?
Question 7
What type of business entity has only one owner,
and is not distinguishable between the owner and
the business entity?
Question 8
What is the amount of straightline
depreciation for
year 2 if the useful life of an asset is 5 years, the
purchase price is $50,000, and the salvage value is
$2,000?
.
Question 9
Assume an asset with an original cost of $40,000,
$6,000 salvage value, is depreciated using straightline
depreciation over 5 years. After year 2, the
salvage value was modified to a $2,000 salvage
value, with 5 years of depreciation remaining. What
is the new yearly depreciation?
