GB 518 RANK Let's Do This /gb518rank.com GB 518 RANK Let's Do This /gb518rank.com | Page 39

Question 17. Question :
Cardco Inc. has an annual
accounting period which ends on December 31. During the
current year a depreciable asset which cost $42,000 was
purchased on September 2. The asset has a $4,000 estimated
salvage value. The company uses straight-line depreciation and
expects the asset to have a 5 year life. What is the total
depreciation expense for the current year?
$1,900.00
$7,600.00
$2,533.33
$2,800.00
$3,166.67
Question 18. Question :
Dell reported net sales of $8,739
million and average accounts receivable of $864 million. Its
accounts receivable turnover is:
0.90
10.1
36.1