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Question 'I C Which one of the following items is not a consideration when recording periodic depreciation expense on plant assets? Estimated useful life 6)) Cash needed to replace the plant asset Question 10 ( 10 Points Sargent Corporation bought equipment on January 'I, 201 7, the equipment cost 540,000 and had an expected salvage value of 90,000, the life of the equipment was estimated to be 6 years, the depreciable cost of the equipment is Question 2 Noncash assets invested into a partnership are recorded at A carrying value. B zero value. C fair value. D original cost.Question 3 10 If the net operating cash flow is 50,000, the net investing cash flow is -80,000, the net financing cash flow is 34,000, and the beginning cash balance is 9000 then the net increase (decrease) in cash is A -4000 B None of the other answers C 4000 D 164,000Question 4 ( 10 Points Equipment was purchased for $120,000. Freight charges amounted to $5,600 and there was a cost of $1 6,000 for building a foundation and installing the equipment. It is estimated that the equipment will have a $24,000 salvage value at the end of its 5- year useful life. Depreciation expense each year using the straight-line method will be Question 5 Which of the following partnership characteristics is an advantage? Limited life Unlimited liability Mutual agency Ease of formation Question 6 Which one of the following items is not considered a part of the cost of a truck purchased for business use? A Cost of lettering on side of truck B Freight charges C Sales tax D Accident insuranceLeon and Betty are forming a partnership. Leon will invest a truck with a book value of 18,000 and a fair value of 28,000. Betty will invest a building with a book value of 60,000 and a fair value of (E1 80,000. At what amount should the building be recorded? mm The cash sales 50,000, cash receipts from accounts receivable 40.000, cash purchases 22,000, cash payments to accounts payable 18,000, the cash expenses 20,000, the acquisition of new equipment 70,000 cash, the cash receipts from sale of old equipment 10,000, the cash receipts from issuing new share capital 20,000, the cash receipts form borrowing new long-term loan 15,000, the cash dividends for shareholders 10,000 and the beginning cash balance is 8,000 then the net cash ow from nancing activities is G) None of the other answers 0 45,000 25.000 35.000 Question9 l 10 Points ) Angie Blooms purchased a delivery van for $35,000. The company was given a $3,000 cash discount by the dealer and paid $1,500 sales tax. Annual insurance on the van is $500. As a result of the purchase, by how much will Angie's Blooms increase its van account? $33,000