Lightning Delivery, Inc purchased a truck on January 1, 2013, for $30,000 . The truck had an estimated life of 5 years and an estimated residual value of $5,000 . Lightning Delivery used the straight-line method to depreciate the asset. On July 1, 2015, the truck was sold for $17,000 cash. The journal entry to record the sale of the truck in 2015
a. decreases stockholder's equity
b. increases total assets
c. decreases total expenses
d. increases net income
a
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Indicate whether the statement is true or false
A short-term investment in a U.S. Treasury bill costs $24,400 and will mature six months later at $25,000. Management intends to hold the investment until it matures. The entry to record the adjusting entry on December 31, assuming three months have passed is:
A) Short-Term Investments 300 Interest Income 300 B) Interest Receivable 300 Interest Income 300 C) Short-Term Investments 600Cash 600 D) Interest Income 600 Short-Term Investments 600
The NPV (net present value) of a cash stream that is equal to $100 per period for 5 periods with a rate of return of 12% per period would be
A) $360.48. B) $382.98. C) $403.73. D) $416.51.
Arrivals or inputs to a waiting-line system have characteristics that include:
A) population size. B) population behavior. C) population's statistical distribution. D) A and C E) A, B, and C