A partner invests into a partnership a building with a 80,000 book value and a 90,000 fair value. As a result of the investment, the partner's capital account will be credited for Question 19 Not yet answered Marked out of 1.00 P Flag Select one: a. 90,000 b. 10,000 c. 80,000 d. 170,000 question Question 23 Not yet answered All of the following factors in computing depreciation are estimates except Select one: Marked out of 1.00 a cost. P Flag question b. useful life. c. residual value. d. salvage value. Mott Company uses the units-of-activity method in computing depreciation. A new plant asset is purchased for $36,000 that will produce an estimated 100,000 units over its useful life. Estimated residual value at the end of its useful life is $3,000. What is the depreciation cost per unit (rounded to the nearest cent? Question 25 Not yet answered Marked out of 1.00 P Flag question Select one: a. $0.36 b. $3.60 c. $3.30 d. $0.33 Land improvements should be depreciated over the useful life of the Question 26 Not yet answered Marked out of 1.00 P Flag question Select one: a. land or land improvements, whichever is longer. b. land improvements. c. land. d. buildings on the land. Question 27 Not yet The primary purpose of the statement of cash flows is to answered Marked out of 1.00 Select one: a. provide information about the cash receipts and cash payments during a period. P Flag Question b. provide information about the investing and financing activities during a period. c. facilitate banking relationships. d. prove that revenues exceed expenses if there is a net income. Question 28 Not yet answered In XYZ Company, land decreased $360,000 because of a cash sale for $360,000, the equipment account increased $80,000 as a result of a cash purchase, and Bonds Payable increased $260,000 from issuance for cash at face value. The net cash provided by investing activities is Marked out of 1.00 P Flag question Select one: a. $540,000. b. $280,000 c. $360,000 d. $260,000 Question 29 Not yet answered The statement of cash flows Maried out of 1.00 P Flag Question Select one: als another name for the income statement. b. summarizes the cash operating, financing, and investing activities of an entity. c. is a special section of the income statement. d. must be prepared on a daily basis. Question 30 Not yet answered Indicate where the transaction of paying income taxes would appear, if at all, on the statement of cash flows. Marked out of 1.00 P Flag question Select one: a. Financing activities Section b. Investing activities section c. Operating activities section d. Does not represent a cash flow