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How much is the amount of total its total liabilities

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Reference no: EM132998651

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Q1. The net book value of the plant asset at the start of the year is 480,000. The depreciation rate is 2% per year. The net book value at the end of the year is 470,000. If there are no additions nor disposals of assets, the depreciation expense would be:

a. 9,800

b. 500,000

c. 10,000

d. 200

Q2. The enterprise has sales for the year amounted to 50,000, gross profit based on cost is 150%, beginning inventory is 10,000 and purchases amounted to 40,000. How much is the ending inventory?

a. 16,667

b. 30,000

c. 33,333

d. 20,000

Q3. Company purchased a large printing press for 600,000 paying 100,000 cash and signing a five year note for 500,000. As a result, the total amount of the company's assets has:

a. increased by 600,000

b. increased by 500,000

c. decreased by 100,000

d. increased by 400,000

Q4. The owner's capital is 150,000. The creditors have 60% claims on total assets. What is the correct amount of total assets?

a. 250,000

b. 90,000

c. 60,000

d. 375,000

Q5. The owner's equity of BSA Company is 90,000 representing 30% of the total assets. How much is the amount of total its total liabilities?

a. 300,000

b. 200,000

c. 210,000

d. 120,000

Reference no: EM132998651

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