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

	2013	2012	2011
Net sales	295,000	226,000	273,000
Accounts receivables net (year end)	47,300	45,100	41,800

What is the accounts receivable turnover ration for 2013?

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