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Select Answer: The book value of an asset is equal to the asset cost minus A Salvage Value B. Accumulated Depreciation C. the depreciation rate D. asset hide Select Anmer: Marnix Company purchased an truck for $42,000. The truck has a life of years and salvage value of $6,000. The straight line depreciation would be how much per year! A $4,000 B, H.200 C. $2,100 D. 54.667 Select Answer Marnie Company purchased an truck for $42.000. The track has a life of years and salvage value of $6,000. How much depreciation would be charged in year 1 under deuble declining balance depreciation? A $4,667 B. $2.100 C9333 D. $4.000 Select Answer: Lambo Manufacturing has a machine that cost $22,000. The accumulated depreciation is $17.000. The company sold the machine for $9.000. What was the pain or loss? A Loss of $4,000 B. Gain of $4,000 No gain or loss D.Loss of $13.000 Select ARIETE Limbo Manufacturing sells a machine for cash, what type of cash flow will result? A. Operating cash flow 1. Financing cash flow C. Investing cash flow D.Noncash investing and financing cash flow Select Answer: Whe pays unemployment taxes? A Employee only B. Employer only C. Both employer and employee D. Neither employer nor employee Select Answer Who pays social security and medicare taxes? A Employee only B. Employer only C. Both employer and employee D. Neither employer nor employee Select Answer: IT Which one of the following is not a payroll tax? A Site unemployment tax B. Federal employment tax C Match on employee medicare tax D. Employee income taxes Name a serious disadvantage to forming a partnership, A Unlimited liability for each partner B. Ability to bring together the skills and resources of partners C. Easy to form a partnership D. Income taxes must be paid by a partnership Select Answert 10 Select Anwer: Corny Corp, borrowed 510,000 on a 3-month 6% ole payable. How much interest will Carney pay on this note? A $600 B560 C.SI,500 D SISO 11 Select Anne Zillion Corpotinued 100.000 shares of S1.00 parmesteck at a price of SS.00 per share. What account is exed for the extra money received beyond the par value? A. It is net income and should go to Retained Emin le represents a liability to the corporation must pay back C. should be reported on the income statement D. It goes to the Paid in Capital in excess of Par account and is not part of our income 12 Select Anne A corporation purchase shares of its own stock for the purpose of rewarding executives and other employees. These shares are called Apred stock Bury wack Clock dividende D.cash dividende 131 Select Antwer: Carmen Corporativa de million shares of $5.00 par stack. De a cash flow statement, the cash received from this stock issuance would be easidered what type of cash flow? operating cash flow investing cash flow C.financing cash flow Dit would not be condered cash flow 14 Select Anne Carmen Corporativa declared and paid a $1.50 cash divided to commen stockholders. How would this cash dividend be classified on Carmen's cash flow statement A financing how Ilimeting cash low operating cash flow Dit would not be considered a cash flow 15 Select Anne 14 Select ADRE Ona cash flow statement using the Indirect Methed, how well as expenses such as depreciation, depletion and amortization be treated A. subtract depreciation from the net income figure Bad back the depreciation to the income figure subtract depreciation from the cash flows from investing 1. subtract depreciation from cash flows from financing Name a characteristic of performed ock A Only preferred stockholders are allowed to vote for the board of directors 11. Preferred stockholders equired to receive dividend every yea C. Preferred stockholders teceive a fixed dividend aatit or percentage D. If the corporation liquidates, only the common shareholders will receive proceeds xara berowed 500.000 from Bank of American with monthly payment. How would the payment be determined A Multiply $400.000 times the interest factor for years at 1. Multiply 5400,000 mes the interface for 101 C Divade 5400.000 by the interes factor for 30 years at D Divide $400,000 by the interes factor for 30 years Select Anne IN Select Anne Which of the following depreciation methods accelerated A. Straight line B. Double Declining Balance Units of Activity D. All of these are accelerated 19 Select Anne Which of the following Types of his enties is requed to pay comes? . proprietiership 1.partnership Caption D.None of these 20 Select Anne How would you characterize the account Discount on Band Payable! A. The discount on bonds payable represents extra cash received when the bonds were B. The discount bonds payable is considered extra future rest expense, because of the cash not received a broad C. The discount on bunda payable us a credite balance which adds to the band's carrying Valu Dis dis non ads Neredence