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1) A building was purchased on August 1 for $450,000. The building has a salvage value of $38,000 and a useful life of 35 years.
1) A building was purchased on August 1 for $450,000. The building has a salvage value of $38,000 and a useful life of 35 years. Using the straight-line method, how much is the depreciation expense for the building for the first year, ending December 31 (to the nearest dollar)?
A. $5,357
B. $4,905
C. $11,771
D. $12,857
2) If a company has 90-day credit terms, its expected accounts receivable turnover is
A. 2.
B. 1.
C. 4.
D. 12.
3) Subway restaurants and the Seattle Mariners are both examples of
A. franchises.
B. patents.
C. trademarked entities.
D. copyrighted companies.
Could you give me the answers to these three questions? Thank you.
