A building acquired at the beginning of the year at a cost of $151,800 has an estimated residual value of $5,800 and an estimated useful life of 10 years. Determine the following: (a) The depreciable cost (b) The straight-line rate (c) The annual straight-line depreciation $ Capital and Revenue Expenditures On August 5, GTS Co. paid $1,700 to repair the transmission on one of its delivery vans. In addition, GTS paid $21 to install a GPS system in its van. Journalize the entries for the transmission. If an amount box does not require an entry, leave it blank. August 5 Journalize the entry for GPS system expenditures. If an amount box does not require an entry, leave it blank. Quick ratio Adieu Company reported the following current assets and current liabilities for two recent years: a. Compute the quick ratio on December 31 for each year. Round to one decimal place. b. Is the quick ratio improving or declining? Fixed asset turnover ratio Select financial statement data for two recent years for Davenport Company are as follows: a. Determine the fixed asset turnover ratio for 20Y4 and 20Y5. Round to one decimal place. b. Does the change in the fixed asset turnover ratio from 20 Y to 20Y5 indicate a favorable or an unfavorable change? Units-of-activity Depreciation A truck acquired at a cost of $120,000 has an estimated residual value of $4,500, has an estimated useful life of 42,000 miles, and was driven 4,200 miles during the year. Determine the following. If required, round your answer for the depreciation rate to two decimal places. (a) The depreciable cost (b) The depreciation rate per mile (c) The units-of-activity depreciation for the year