GB 518 Course Great Wisdom / tutorialrank.com GB 518 Course Great Wisdom / tutorialrank.com | Page 35
Question 25. Question :
A classified balance sheet:
Measures a company's ability to pay its bills on
time
Organizes assets and liabilities into important
ubgroups
Presents revenues, expenses and net income
Question 26. Question :
A company purchased a new truck at a
cost of $42,000 on July 1, 2011. The truck is estimated to have a
useful life of 6 years and a salvage value of $3,000. How much
depreciation expense will be recorded for the truck for the year
ended December 31, 2011?
$3,250