53) On January 2, 2012, Hockey Skates, Inc., acquired equipment for $230,000. The estimated life of the equipment is 5 years. The estimated residual value is $30,000. What is the book value of the equipment on December 31, 2012, if Hockey Skates uses the double-declining-balance method of depreciation? A) $92,000 B) $138,000 C) $150,000 D) $184,000 54) On January 2, 2012, Mummy Corporation acquired equipment for $45,000. The estimated life of the equipment is 4 years. The estimated residual value is $5,000. What is the amount of depreciation expense for 2012, if the company uses the double-declining-balance method of depreciation? […]

3) Calculate Company Y's total asset turnover based on the following information for the current year: Net income $100,000 Assets at the beginning of the year $800,000 Assets at the end of the year $830,000 Net sales $300,000 A) 10.3% B) 12.3% C) 32.8% D) 36.8% 4) The following information was taken from the records of the Acme Company for the current year: Net sales$510,000 Net income$145,000 Average total assets$330,000 Required: Use the DuPont analysis to measure the return on assets. 7.8   Learning Objective 7-8 1) Acquisition of assets will appear on the statement of cash flows as a financing […]

5) The Allowance to Adjust Investments account is a Long-Term Asset account. 6) Unrealized gains and losses result from changes in the investments fair value. 7) The Allowance to Adjust Investment to Market account will always have a debit balance. 8) GAAP requires companies to adjust their available-for-sale-securities to market value as of the balance sheet date. 9) For accounting purposes, receipt of a stock dividend is handled the same as a receipt of a cash dividend. 10) For a stock dividend, the investor records dividend revenue. 11) Realized gains on the sale of available-for-sale securities cannot be used to […]

31) Which of the following characteristics would weaken a password? A) containing a complete dictionary word B) containing both upper- and lowercase letters C) containing the numbers 9 and 3 D) containing three special characters 32) Which of the following is the weakest password? A) B33rmu9 B) Qw37^T1bb?as C) 3B47qq57bdE D) As60$T1dd?dc 33) Which of the following is considered a strong password? A) sword123 B) RileyyeliR C) paranoid4EVER D) BL@k2V1.0.1 34) Which of the following techniques is best suited for creating memorable, strong passwords? A) use at least one dictionary word in the password B) use numbers instead of special […]

  86.Match the qualitative characteristics of accounting information with the description.    1. This qualitative characteristic means that accounting information is capable of making a difference in a decision by the report user.                    Feedback value                   2. This is the concept that data shown in the financial reports reflect what really happened.                    Reliability                   3. Often referred to as objectivity; it is the idea that the financial statements are not prepared in a way to favor one group of users (management, owners, creditors, employees, etc.) over other groups.                    Relevance                   4. This qualitative characteristic means simply that the information should be dependable; such information is […]