estimated 5-year useful life . If the company uses the double-decliningbalance method of depreciation , the amount of annual depreciation recorded for the second year after purchase would be
$ 84,000 . $ 140,000 . $ 126,000 . $ 60,480 . 7- Multiple Choice Question 175
On a balance sheet , natural resources may be described more specifically as all of the following except
oil reserves . timberlands . land improvements . mineral deposits . 8- Multiple Choice Question 98
On January 1 , 2013 , Donahue Company , a calendar-year company , issued $ 500,000 of notes payable , of which $ 125,000 is due on January 1 for each of the next four years . The proper balance sheet presentation on December 31 , 2013 , is
Current Liabilities , $ 125,000 ; Long-term Debt , $ 375,000 . Current Liabilities , $ 375,000 ; Long-term Debt , $ 125,000 . Current Liabilities , $ 500,000 . Long-term Debt , $ 500,000 .