Depreciation double entry - Study guides, Revision notes & Summaries
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UAB AC 200 - Exam 3 with 100% correct answers.
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Digger Enterprises purchased equipment for $64,000. In addition, shipping charges of $800 were incurred to obtain the equipment. The company paid $5,000 to construct a foundation and install the equipment. The equipment is estimated to have a residual value of $6,000 at the end of its 5-year useful life. Using the straight-line method, what is the book value of the equipment at the end of the third full year of use? 
a. $22,120 
b. $28,400 
c. $31,520 
d. $25,520 
C. $31,520 
 
 
 
Zebra Inc. bu...
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CFA Level 1 - 101 Must Knows 368 Questions with Verified Answers,100% CORRECT
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CFA Level 1 - 101 Must Knows 368 Questions with Verified Answers 
 
Addition Rule of Probability - CORRECT ANSWER ADDITION: P(A or B) = P(A) + P(B) - P(AB) 
 
Roy's Safety First Criterion - CORRECT ANSWER Safety First Ratio = (E(R) - Rₜ) / σ 
 
Larger ratio is better 
 
If (Rₜ) is risk free rate, then it becomes Sharpe Ratio 
 
Sharpe Ratio - CORRECT ANSWER Sharpe Ratio = (E(R) - RFR) / σ 
 
Larger ratio is better 
 
If (Rt) is higher than RFR, then it becomes Safety First Ratio 
 
Centra...
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WGU D102 Pre-Assessment Exam with complete solutions
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What information is contained in a balance sheet? - ANSWER-Report of a company's financial position as of a point in time. 
 
What is an owners' equity item? - ANSWER-Capital stock 
 
A company ended July with assets of $150,000 and owner's equity of $60,000. 
What is the amount of liabilities at the end of July? - ANSWER-$90,000 
 
What is reported in a multiple-step income statement that is not reported in a single-step income statement? - ANSWER-Gross profit 
 
How is gross profit computed...
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ACCT 2101 Final Exam Study Guide Chapters 1 – 12
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ACCT 2101 Final Exam Study Guide Chapters 1 – 12 
 
Chapter 1 
 
1.	The liability created by a business when it purchases coffee beans and coffee cups on credit from suppliers is termed a(n) a.	account payable. 
b.	account receivable. 
c.	revenue. 
d.	expense. 
 
2.	The right to receive money in the future is called a(n) 
a.	account payable. b.	account receivable. 
c.	liability. 
d.	revenue. 
 
 
3.	Borrowing money is an example of a(n) 
a.	delivering activity. b.	financing activity. 
c.	inves...
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CFA Level 1 Financial Statement Analysis 44 Questions with Answers,100% CORRECT
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CFA Level 1 Financial Statement Analysis 44 Questions with Answers 
 
 
Income statement - CORRECT ANSWER A financial statement that provides information about a company's profitability over a stated period of time. Also called statement of operations or profit and loss statement. 
 
Revenue - Expenses = Net income or loss 
 
Liquidity - CORRECT ANSWER The ability to purchase or sell an asset quickly and easily at a price close to fair market value. The ability to meet short-term obligations u...
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WGU D104 Intermediate Accounting II Units 4-6 Exam with Verified Solutions 2024
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WGU D104 Intermediate Accounting II Units 
4-6 Exam with Verified Solutions 2024 
Asset Turnover Ratio - Answer -net sales/average total assets 
Profit Margin Ratio - Answer -net income/total sales 
Rate of return on assets - Answer -net income/average total assets 
Current ratio - Answer -current assets/current liabilities 
acid-test ratio - Answer -(cash + short-term investments + net receivables) / current liabilities 
rate of return on common stock equity - Answer -(net income - preferred di...
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NJ CALA FInance Questions with 100% Correct Answers | Latest Update | Verified
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Credits - ️️An entry made on the right side of the account 
Operating Expenses - ️️resident care, plant operations, dietary, housekeeping, laundry, general & 
admin, depreciation, interest, total operating expenses 
Double Entry Accounting - ️️Recording of a debit and credit for each transaction 
**Debits must always equal credits** 
Debits - ️️An entry made on the left side of the account 
Journals - ️️The organization's "books" where transactions are first recorded befor...
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English Vocabulary Semester 2 FHNW
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English Vocabulary Semester 2 FHNW 
account - answerKonto 
branch - answerFiliale 
credit - answerKredit 
current account - answerGirokonto 
deposits - answerEinlagen 
direct debit - answerLastschrift, Direktabbuchung 
lend - answerleihen 
loan - answerDarlehen, Kredit 
overdraft - answerKontoüberziehung 
risk - answerRisiko 
salary - answerGehalt 
security - answerSicherheit 
transfer - answerübertragen 
wages - answerLohn 
withdraw - answerabheben 
Bookkeeping - answerBuchhaltung 
financial ...
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Superior NC Real Estate Important Final Exam Questions With 100% Correct Answers.
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A buyer is to assume an existing loan of $80,000 at 9.5% with the approval of the lender. The interest on 
the loan, which is paid in arrears, would appear on the closing statement as: 
A.A single entry; debit to the seller 
B.A single entry: credit to the buyer 
C.A double entry: debit to the seller, credit to the buyer 
D. A double entry: credit to the seller, debit to the buyer - C. a double entry: debit to the seller, 
credit to the buyer. 
When a loan is assumed there is no new loan being e...
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financial-statement-analysis-13th-edition-gibson-solutions-manual
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QUESTIONS 
 
2- 1. 	a. 	Unqualified opinion with explanatory paragraph 	b. 	Unqualified opinion with explanatory paragraph 
c.	Unqualified opinion 
d.	Adverse opinion 
e.	Qualified opinion 
 
2- 2. 	The responsibility for the preparation and integrity of financial statements rests with management. The auditor simply examines them for fairness, conformity with GAAP, and consistency. 
 
2- 3. 	The basic purpose of the integrated disclosure system is to achieve uniformity between annual ...
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