Assume a firm has acquired an asset for $100,000 on January 1, Year 1 . The asset has a 6-year life and a salvage value of $10,000 . The firm calculates the depreciation expense using the straight-line depreciation. What was the depreciation for Year 4?
a. $10,000
b. $15,000
c. $20,000
d. $25,000
e. $30,000
B
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When using the direct method, how is the sale of long-term investments for cash reported on the statement of cash flows?
a. Operating activity b. Investing activity c. Financing activity d. Noncash investing and financing activity
Women have made great strides in all the following ways EXCEPT ________
A) leveling the overall playing field between men and women B) achieving equal pay for equal work C) serving as CEOs at large corporations D) becoming advisors to presidential candidates and to the president
Alfredo Inc. reports net income of $230,000 for the year ended December 31. It also reports $87,700 depreciation expense and a $5,000 gain on the sale of equipment. Its comparative balance sheet reveals a $35,500 decrease in accounts receivable, a $15,750 increase in accounts payable, and a $12,500 decrease in wages payable. Calculate the cash provided (used) in operating activities using the indirect method.
A. $356,450. B. $319,950. C. $351,450. D. $376,450. E. $263,750.
One benefit of workplace diversity is less government regulatory action
Indicate whether the statement is true or false