1. on january 1, Able Company purchased equipment costing $139,800 with an estimated salvage value of $11,300,...
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1. on january 1, Able Company purchased equipment costing $139,800 with an estimated salvage value of $11,300, and an estimated useful life of 5 years. Using the straight line method, what is the amount that should be reordered as depreciation on December 31?
a. 30,220 b.139,800 c. 27,960 d. 25,700 e. 11,300
2. The follwing information is from the annual finanical statements of Nancy Company
2013 | 2012 | 2011 | |
Net sales | 295,000 | 226,000 | 273,000 |
Accounts receivables net (year end) | 47,300 | 45,100 | 41,800 |
What is the accounts receivable turnover ration for 2013?
a. 4.78 b. 5.20 c. 6.39 d. 6.54 e. 6.24
Salvage ValueSalvage value is the estimated book value of an asset after depreciation is complete, based on what a company expects to receive in exchange for the asset at the end of its useful life. As such, an asset’s estimated salvage value is an important... Accounts Receivable
Accounts receivables are debts owed to your company, usually from sales on credit. Accounts receivable is business asset, the sum of the money owed to you by customers who haven’t paid.The standard procedure in business-to-business sales is that...
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Related Book For
Intermediate Accounting
ISBN: 978-1118147290
15th edition
Authors: Donald E. Kieso, Jerry J. Weygandt, and Terry D. Warfield
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