Question

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27. K Co. purchased a new piece of equipment on April 1 of the current year for $18,000. K Co. has estimated monthly depreciation to be $430. What is the book value of the equipment at the end of the year on December 31? a) $3,870 b) 3,440 c) 14,130 d) 14,560 e) 18,000 28. Profit Margin Asset Turnover ROA Company #1 7.0% 0.87 6.09% Company #2 5.9% 1.2 7.08% Which of the following is true? a) Company #1 is better at generating more sales dollars from its assets b) Company #2's higher ROA is from their ability to generate more sales dollars from assets compared to Company #1. c) Company #2 s better at deriving more profit from each sales dollar d) Company #2's higher ROA is driven by their profit margin 29. According to Accounting Across the Organization, how do organizations usually determine the start and end of their fiscal year? a) Public companies are required to match the calendar year while private companies often choose to match with the calendar year b) Many companies are required to match the calendar year while private companies often choose to match with the calendar year. c) Many companies to end their fiscal year during low inventory or operations d) Many companies start their fiscal year during the month they began operations c) None of the above. 30. According to article, Private vs Public Company: What's the Difference? Which of the following statements is true? a) Both public and Private companies are required to file their quarterly earnings with SEC b) Private companies seek to increase profits for shareholder c) Public companies can sell stock to earn money for growth while private companies are prohibited from selling stock d) Public companies are required to file their quarterly earnings with the SEC while private companies do not need to disclose their financials.

Answer 1

27. (c) 18000-3870 (depreciation is charged for 9 months)

28. (b)

29. (d)

30. (a)