UBT ACCT102 Spring 2020 - Section 1 A and reporters who are profits and 30% and 70%, respectively in April 2019 A invested inventory of cost $25,000 with fair value $20,000 and 375,000, invested cash 10,000 and equipment (cost of $35,000) with fair value $25,000. Net income of the year was $20,000 What we be the amount credited to the Capital account of partner A in the entry of partnership formation? Select one $25.000 . $60,000 d $40,000 Next page BT ECT102_Spring 2020 - Section 1 Oution 30 Not yet Sargent Corporation bought equipment on January 1, 2017. The equipment cost 540,000 and had an expected residual value of 90,000. The life of the equipment was estimated to be 6 years. The depreciable cost of the equipment is Select one 540,000 b. 300,000 c. 675,000 d. 450,000 Previous page Next page ACCT2 Apr 30 22:30-00:30 $:+966 56 636 9700 CT102_Spring 2020 - Section 1 Question 36 Not yet answered The statement of cash flows is designed with the purpose of helping users to assess each of the following, except: Select one: O & the ability of a entity to remain liquid cash b. the profitability of the entity c. the major sources of cash receipts during the period d. the reasons why net cash flows from operating activities differ from net income Previous page ACCT102_Spring2020 - Section 1 Useful life is expressed in terms of time, units of activity, or units of output expected from the asset under the Not yet answered Marked out of Select one: a declining-balance method. P Flag question b. straight-line method. c. none of these answer choices are correct O d. units-of-activity method