Measures a company's ability to pay its
bills on time
Organizes assets and liabilities into
important subgroups
Presents revenues, expenses and net
income
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?
$3,250
$3,500
$4,000
$6,500
&
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GB 518 Unit 4 Assignment (7-4A, 8-1A)
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