question 1 on january 1 able company purchased equipment costing 139 800 with an est 4305332

question 1 on january 1 able company purchased equipment costing 139 800 with an est 4305332

Question

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

What is the accounts receivable turnover ration for 2013?

a. 4.78 b. 5.20 c. 6.39 d. 6.54 e. 6.24

 

2013

2012

2011

Net sales

295,000

226,000

273,000

Accounts receivables net (year end)

47,300

45,100

41,800

 

 

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