## Friday, 2 August 2013

### Bad Debts Expense is reported on the income statement as A. part of cost of goods sold. B. Reducing gross profit. C. an operating expense. D. a contra-revenue account.

Bad Debts Expense is reported on the income statement as
A.            part of cost of goods sold.
B.            Reducing gross profit.
C.            an operating expense.
D.            a contra-revenue account.

an operating expense.

Solve 4x=3x-4

Solution.
4x=3x-4
4x - 3x=-4
x = -4

### Suppose you purchase a \$10,000 barge -- a 10-year asset. What is depreciation on the barge in year 5 if you sell it on January 15th of that year? your answer is ..........?

Suppose you purchase a \$10,000 barge -- a 10-year asset. What is depreciation on the barge in year 5 if you sell it on January 15th of that year?

\$461

### Suppose you purchase a \$10,000 barge -- a 10-year asset. What is the book value of the barge in the 2nd year you own it? your answer is ..................?

Suppose you purchase a \$10,000 barge -- a 10-year asset. What is the book value of the barge in the 2nd year you own it?

\$720

### Suppose you purchase a \$10,000 barge -- a 10-year asset. What is the depreciation on the barge in the 2nd year you own it? Your answer is ...................?

Suppose you purchase a \$10,000 barge -- a 10-year asset. What is the depreciation on the barge in the 2nd year you own it?

\$1,800

### What is the internal rate of return on an asset that gains you \$ 13 and costs you \$15 in period 5 ? your answer is....

What is the internal rate of return on an asset that gains you \$ 13 and costs you \$15 in period 5 ?