Account 100
Unit 4 Challenge 1
Barbara is considering selling pierogies from a food truck and began to think about
the equipment she would need to run a food truck.
Determine which of the following would be a short-term asset.
a.)
Oven
b.)
Aprons
c.)
Frying pans
d.)
Cooling racks
Ann began a list of the additional equipment she would need to run the food truck for
her company, Sweet Tooth. She would need mixers that fit on the truck, baking
ingredients that were stable in the summer heat, a rented parking space downtown
on Foodtruck Row, and of course, the food truck.
Which of the following assets is NOT depreciable?
a.)
Baking ingredients
b.)
Food truck
c.)
Mixers
d.)
Property on which store is located
Paul wanted to calculate the depreciation of the computer server his
company purchased for $6,000. He decided that the useful life of the server would be
, Paul calculated the annual straight line depreciation of the server would be
__________.
a.)
$2,000
b.)
$2,100
c.)
$1,900
d.)
$1,800
The machine used to produce color copies cost $250,000 when it was purchased new
one year ago. It has an expected life span of five years. The income statement
showed the straight line deprecation rate as 20%.
Using the double declining balance depreciation method, the book value of
the color copy machine at the end of year two will be __________.
a.)
$90,000
Unit 4 Challenge 1
Barbara is considering selling pierogies from a food truck and began to think about
the equipment she would need to run a food truck.
Determine which of the following would be a short-term asset.
a.)
Oven
b.)
Aprons
c.)
Frying pans
d.)
Cooling racks
Ann began a list of the additional equipment she would need to run the food truck for
her company, Sweet Tooth. She would need mixers that fit on the truck, baking
ingredients that were stable in the summer heat, a rented parking space downtown
on Foodtruck Row, and of course, the food truck.
Which of the following assets is NOT depreciable?
a.)
Baking ingredients
b.)
Food truck
c.)
Mixers
d.)
Property on which store is located
Paul wanted to calculate the depreciation of the computer server his
company purchased for $6,000. He decided that the useful life of the server would be
, Paul calculated the annual straight line depreciation of the server would be
__________.
a.)
$2,000
b.)
$2,100
c.)
$1,900
d.)
$1,800
The machine used to produce color copies cost $250,000 when it was purchased new
one year ago. It has an expected life span of five years. The income statement
showed the straight line deprecation rate as 20%.
Using the double declining balance depreciation method, the book value of
the color copy machine at the end of year two will be __________.
a.)
$90,000
