Wilshire purchased equipment at the beginning of 2011 for $19,000. Wilshire decided to depreciate the equipment over a 6-year period using the straight-line method. Wilshire estimated the equipment's salvage value at $1,000. The estimated fair market value at the end of 2011 was $18,000. Which of the following statements is correct concerning Wilshire's financial statements at December 31, 2011?
A) The book value of the equipment is $15,000.
B) The book value of the equipment is $16,000.
C) The total accumulated depreciation is $3,167.
D) The equipment will be reported on the balance sheet at it fair market value of $18,000.
B
You might also like to view...
The Storage Bin Warehouse has reported a number of break-ins in the past few weeks. As a salesperson for No-Doubt Security Products, you believe your extensive line of alarm systems and locks could greatly benefit the retailer. You make an appointment with the Storage Bin manager for early next week. During your preparation for the sales call you learn the warehouse currently uses poor quality locks and has no security system. You plan to offer the manager a security package consisting of 150 Sure-Bolt locks at a price of $10 each and a new alarm system costing $5,000. The terms of the sale are 2/10 net 30. Assuming the Storage Bin manager purchases your suggested order and pays for it in one week, what would be the total cost?
A. $6,500 B. $6,776 C. $6,630 D. $6,237 E. $6,370
In the VALS framework, a person's resources include all of the following EXCEPT:
A. psychological B. material C. temporal D. demographic E. physical
What is the latitude of noncommitment? Explain how a listener might experience a latitude of noncommitment after listening to a persuasive speech. Finally, what could you do to help the person see that your proposal should be within their latitude of acceptance?
What will be an ideal response?
For those with a(n) ______ self, a positive self-image is derived from belonging, fitting in, occupying one’s proper place, engaging in appropriate action, and maintaining harmony.
A. interdependent B. motivational C. self-verification D. independent