Problem:

A company purchases a new machine for $$50,000.$ The machine has an estimated useful life of $10$ years and a salvage value of $$5,000.$ Calculate the annual depreciation expense using the straight$-$line method.

Problem:

Company XYZ acquired land for $$100,000.$ It also paid $$10,000$ in legal fees for the purchase and $$5,000$ to remove an old building from the land before construction of a new building. Determine the total cost of the land.

Problem:

Calculate the current ratio for a company with current assets of $$200,000$ and current liabilities of $$100,000.$

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