What are the three items needed to calculate depreciation
QUESTION 17
What are the three items needed to calculate depreciation?
QUESTION 18
A piece of equipment is purchased for $10,000, has a salvage value of $2,000, and an estimated useful life of 4 years. Using the straight-line depreciation method, how much is depreciated per year for the next 4 years?
QUESTION 19
A piece of equipment is purchased for $10,000, has a salvage value of $2,000, and an estimated useful life of 4 years. Using the double-declining balance method, how much is depreciated per year for the next 2 years?
QUESTION 20
How does an “Accumulated Deprecation” account get increased; debit or credit?
QUESTION 21
What are the three levels of the Cash Flow Statement?
QUESTION 22
What type of income statement separates out the “Gross Margin”, “Operating Income” and “Net Income”?
QUESTION 23
What does FUTA stand for?
QUESTION 24
What does FICA stand for?
