Write the answers to the following questions in the space provided.
1. What is the original cost of asset number 350 (office desk) as shown on the fixed assets list?
2. What is the salvage value of asset number 280 (facsimile machine) as shown on the fixed assets list?
3. What is the total value of all assets based on original costs as shown on the fixed assets list?
4. On what date was the K6 Telephone System acquired?
5. Refer to the depreciation schedule for asset number 215 (Binding Machine). What is the annual depreciation calculated for 2017?
6. Refer to the depreciation schedule for asset number 380 (Shelving). What is the book value at the end of 2019?
7. What are the depreciation journal entries on November 30, 2013 for each of the following accounts?

                                                    Debit                         Credit
Depr. Expense Vehicles         __________                 __________
Accum. Depr.Vehicles            __________                 __________
Depr. Expense Off. Eqpt.       __________                 __________
Accum. Depr. Office Eqpt.     __________                 __________
Depr. Expense Off. Furn.       __________                 __________
Accum. Depr. Office Furn.     __________                 __________
8. What is the amount of net income for the month as shown on the income statement?

9. What is the net income for the year as shown on the income statement expressed as a percentage?

10. What is the amount of total owner’s equity at the end of the period?
11. What is the amount of total assets as shown on the balance sheet?
12. Refer to the depreciation comparison graph for the K6 Telephone System. Which depreciation method yields the highest amount of depreciation during the first year?
13. Refer to the depreciation comparison graph for the Pickup Truck. Which depreciation method yields the lowest amount of depreciation in the last year?