answer the following with explanation

Forgetting to record depreciation expense during 2015: a. understates the debt/equity ratio. b. understates the current ratio. c. overstates the debtequity ratio. d. overstates the current ratio. If the straight-line method of depreciation of an asset with a 5-year life expectancy and no salvage value is used, then the percentage of cost that is recognized as depreciation expense for the first two years of the asset's life is, respectively, a. 25% and 25%. b. 40% and 20%. c. 40% and 40%. On January 1, 2015, Lane Company made a $12,000 expenditure on a fully depreciated machine. The expenditure increased the d. 20% and 20%. expected life of the new machine for two years until December 31, 2016. Lane uses straight-line depreciation with no salvage value. However, Lane erroneously expensed this capital expenditure. As a result of this error, a. 2015 income is overstated by $3,000 and 2016 income is understated by $3,000. b. 2015 income is understated by $6,000 and 2016 income is overstated by $6,000. c. 2015 income is understated by $6,000 and 2016 income is overstated by $3,000. d. 2015 income is understated by $6,000 and 2015 income is correctly stated. A machine was purchased on January 1 for $50,000. The machine has an estimated useful life of 10 years with a salvage value of $2,000. Under the double-declining-balance, depreciation expense for each of the first two years is, respectively, a. $12,000 and $12,000. b. $10,000 and $8,000. c. $12,000 and $9,500. A machine was purchased on January 1 for $100,000. The machine has an estimated useful life of 5 years with a salvage value of d. $12,500 and $12,500. $10,000. Under the double-declining-balance method, depreciation expense for each of the first two years is, respectively, a. $45,000 and $22,500. b. $40,000 and $24,000. c. $45,000 and $27,500. d. $22,500 and $22,500. 31. Failure to record depreciation expense during a year: a. understates net income. b. overstates total assets. c. overstates total debt. d. overstates contributed capital. 32. A machine was purchased on January 1 for $100,000. The machine has an estimated useful life of 4 years with a salvage value of $20,000. Under the straight-line method, accumulated depreciation at the end of year 2 is: a. $25,000 b. $22,500 c. $50,000 d. $40,000 33. Natural resource costs: a. include rights, privileges, and benefits of an economic resource that have no physical existence. b. are depreciated c. include the cost of the equipment used to extract the natural resource. d. include the cost of acquiring the rights to extract natural resources. 34. A machine was purchased on January 1 for $100,000. The machine has an estimated useful life of 5 years with a salvage value of $20,000. Under the straight-line method, the book value and the accumulated depreciation of the machine at the end of year two is respectively, a. $60,000 and $40,000 b. $68,000 and $32,000 c. $40,000 and $60,000 d. $48,000 and $32,000 35. Which one of the following will impact the amount of depreciation expensed throughout the life of plant assets? a. The amount of capitalized cost. b. Maintenance costs throughout the asset's useful life. c. The expected cost of a replacement asset. d. The current market value