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Report form balance sheet Account form balance sheet Classified balance sheet Unadjusted balance sheet

Question 25. Question: A classified balance sheet:

bills on time

important subgroups

income

financing activities

Measures a company ' s ability to pay its

Organizes assets and liabilities into

Presents revenues, expenses and net

Reports operating, investing and

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?