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ABC Industries bought land and built its plant 10 years ago. The depreciation on the building and plant is calculated using the straight-line method, with

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ABC Industries bought land and built its plant 10 years ago. The depreciation on the building and plant is calculated using the straight-line method, with a life of 40 years and a salvage value of $1,000,000. Land is not depreciated. The depreciation for the equipment, all of which was purchased at the same time the plant was constructed, is calculated using declining-balance at 20%. Complete the Balance Sheet below and answer the following 4 Multiple-Choice questions. What is the value for "Total Assets" for ABC Industries as of June 30, 2015? less than 11 millions between 11 and 12.5 millions between 12.51 and 14 millions more than 14 millions What is the value for "Capital Stock" for ABC Industries as of June 30, 2015? 6, 760,000. 8, 670,000 7, 640,000 7, 746,000 none of the above What is the value for the "Acid-Test Ratio" for ABC Industries during the period given? less than 1.0 between 1.0 and 1.5 between 1.51 and 2.0 more than 2.0 What is the value for the "Inventory-Turnover Ratio" for ABC Industries during the period given? less than 0.5 between 0.50 and 0.80 between 0.81 and 1.0 more than 1.0

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