Question: Hello, I please need help with 25, 26, 27, and 30 Thank you :) Question 25 2.5 Expenditures on operational assets after their acquisition are



Question 25 2.5 Expenditures on operational assets after their acquisition are classified as either revenue expenditures (called repairs and maintenance expense) or capital expenditures. Which of the following is/are correct: two of the other answers are correct. revenue expenditures benefit only the current period. revenue expenditures increase the appropriate asset accounts. capital expenditures benefit the current period only Question 26 The main purpose of recording depreciation is to give the accountant something to do. (Hint, this is not the right answer) estimate the remaining useful life of the asset. e report the asset on the balance sheet at the estimated value for which the asset could be sold on the balance sheet date. allocate the cost of a tangible asset to the periods in which its use contributes to earning revenue. Question 27 2.5 p For ABC Corporation in 2016, Total revenue was $100,000 and Total expenses were $80,000. The number of shares of stock outstanding was 10,000 shares. What is Earnings per Share for 2016? $1 per share $20 per share $2 per share $10 per share Question 30 Signing note payable for cash from the bank immediately results in a(n): decrease in assets and an increase in liabilities. increase in assets and an increase in liabilities. decrease in assets and a decrease liabilities. increase in liabilities and a decrease in stockholders' equity
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
