PD Words QUESTION 15 22 point Press Corporation purchased truck for $40,000. The company expected the truck to four years or 100,000 miles with an estimated residup value of $4,000 at the end of that time. During the first and second year, the truck was drven 20,000 miles and 27.500 miles respectively Compute the depreciation expense for the first and second you and the carrying value book value at the end of the second year under each of the following methods() straight-line, (b) units of activity, and (c) double-declining balance IN G3 TTTT Paragraph Antal %D0QFEE STO 3 (12) TT. BRE Path Words: 0 Click Save and Submit to save and submit. Click Save All Art to sou all Save Al A MacBook Pro Colapse Pathp QUESTION 14 10 pc Distinguish between common and preferred stock. Paragraph Arial 03 (12) TEET % DO QUE TT. SAMBA LEHEH DI Path Word QUESTION 15 Press Corporation purchased a truck for $40,000. The company expected the truck to last four years or 100,000 miles with an estimated residual value at $4,000 at the end of that time. During the first and second year, the truck was driven 20,000 miles and 27.500 miles respectively, MacBook Pro COL employees O stockholders QUESTION 13 Anita Corporation has the following accounts at December 31: Common Stock $10 par, 5000 shares issued, $60,000 Pald-in-capital in excess of par value $10,000; Retained Earnings: $22,000. Prepare the stockholders equity section of the Balance Sheet. Arial Paragraph (12pti 41 *DOQETTA Me 66 MacBook Pro 575,000 Collapse QUESTION 11 the market rate of interest is greater than the stated (coupon) interest rate, bonds will Osta premium Ostfre value O at a discount only after the stated rate of interest is increased QUESTION 12 4 points Barva Anu Those most responsible for the major policy decision of a corporation are the management board of directors employees stockholders 10 pont QUESTION 13 MacBook Pro $225,000 $155,000 $295.000 $215,000 Collapse QUESTION O point Total operating expers for the period were $140,000 $80,000 $230,000 C $30,000 QUESTION 10 pinta Net Income for the period was $215,000 $140,000 $85.000 $75,000 4 points QUESTION 11 If the market rate of interest is greater than the stated (coupon) interest rate, bonds will sell MacBook Pro QUESTIONS The following Information relates to questions through 10: Account Name Debit Credit sales 295,000 Cost of merchandise Sold Selling Expenses General and Administrative Expenses 30,000 30,000 110,000 The firm uses the perpetual inventory system. Grossmarin (or Gross profit) for the period were $325.000 $155,000 $295.000 $215,000 MacBook Pro QUESTION O A truck that cost $12,000 and on which $9,000 of sted depreciation has been recorded was disposed of on Juny 1. Assume that the track was sold for $1,800. The amount of the pain or lo recognised on this transaction would be 31,200 lom $1,200 gain no gain moognised no los recognized QUESTION 7 If Wills Corporation has 80,000 shares of common stock authorized, 50,000 shares of common stock issued, and holds 2,000 amounts to: shares of common stock as treasury stock, the total number of outstanding shares of Wills Corporation 32.000 78.000 48.000 36,000 4 points QUESTION The following information relates to questions through 10: MacBook Pro A truck that cost $12,000 and on which $9,000 of accumulated depenclation has been recorded was disposed of only 1. Asume that the truck was sold for $1,800. The amount of the gain or los recognized on this transaction would be $1,200 loss $1,200 gain no gain mocognized no los recognized point QUESTION 7 If Willis Corporation has 80,000 shares of common stock authorized, 50,000 shares of common stock issued, and holds 2,000 amounts to: shares of common stock as treasury stock, the total number of outstanding shares of Willis Corporation 12,000 78,000 48,000 36,000 4 points QUESTION 8 The following information relates to questions through 10: MacBook Pro en 888 A truck that cost $12,000 and on which 59,000 of accumulated depreciation has been recorded was disposed of on January 1. Asume that the truck was sold for $1,800. The amount of the gain or los recognized on this traction would be $1,200 loss 51,200 gain no gain recognized no lons recognized ALGIA QUESTION 4 (4 pont The stato charter allows a corporation to issue only a cartinumber of ench class of stock. This amount is called treasury stock issued stock outstanding stock muthorized stock QUESTION 5 pol A company issues $200,000 of 20-year 6 percent bonds at 95 cash received $190.000). If interest is paid semiannualy, what is the amount of bond Interest expense recorded Assuming straight-line amortization or any interest date? $5,750 $6,000 S6,250 56,500 Colops odaion unit 250 un binary under FO? $2,500 O $2,600 O $3,000 $3,600 QUESTIONS The following information relates to question : Beginning inventory 200 units @ $11 Purchase-April 100 units @ Se Purchase-September 300 units 512 A periodic inventory system is used as units are 250 units What is cost of merchandise told under FIFO? $2,500 $2,600 $3,000 $3,600 QUESTION 4 The state charter allows a corporation to issue only a certain number of each class of stock. This amount is called MacBook Pro What is cost of merchandise sold under the average-cont method O $2,450 $2,583 $2,750 53,267 QUESTION 2 pot The following information relates to question 2: Beginning inventory 200 units @ $11 Purchase Apri 100 units @ $8 Purchase-September 300 units 512 A periodie inventory system is used as units aro 250 units What is the cost of ending Inventory under LIFO? $2,500 $2,600 53,000 $3.600 LECTIONS MacBook Pro QUESTION 1 4 The following information to question 1: Beginning inventory 200 units $11 Purchase-Apell 100 units @ $8 Purchase-September 300 units $12 A periodic inventory system is used; sale units are 250 units What in cont of merchandise sold under the average-cost method? C 52,450 $2,583 52,750 $3,267 QUESTION 2 MacBook Pro