Question 24. Question: A balance sheet that places the assets above the liabilities and equity is called a( n):
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
Measures a company ' s ability to pay its
Organizes assets and liabilities into
Presents revenues, expenses and net
Reports operating, investing and financing activities 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?
Question 24. Question: A balance sheet that places the assets above the liabilities and equity is called a( n):
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
Measures a company ' s ability to pay its
Organizes assets and liabilities into
Presents revenues, expenses and net
Reports operating, investing and financing activities 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?