Depreciation expense is located on the A. the accounts payable documentation. B. the accounts receivable documention

I need help with 5 BUSINESS AND FINANCE BASICS 2 multiple choice
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2. Jay Corporation has earned $175,900 after tax. The accountant
calculated the return on equity as 12.5%. Jay Corporation’s
stockholders’ equity to the nearest dollar is
A. $1,407,200. B. $140,720,000. C. $140,720. D. $14,720. –
Incorrect Answer
5. Lee Company has a current ratio of 2.65. The acid test ratio
is 2.01. The current liabilities of Lee are $45,000. Assuming there
are no prepaid expenses, the dollar amount of merchandise inventory
is
A. $90,540. B. $28,008. C. $28,800. D. $90,450. – Incorrect
Answer
10. Connie made deposits of $2000 at the beginning of each year
for four years. The rate she earned is 5% annually. What is the
value of Connie’s account in four years?
A. $8,260.20 B. $8,260.00 C. $9,051.20 D. $11,051.00 – Incorrect
Answer
12. In calculating the daily balance, cash advances are
A. always added in. B. always subtracted out. – Incorrect Answer
C. sometimes added in. D. sometimes subtracted out.
21. Depreciation expense is located on the
A. the accounts payable documentation. B. the accounts
receivable documention. C. income statement. D. balance sheet. –
Incorrect Answer


 

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