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  3. 38. a machine with a cost of $480,000 has an estim

38. A machine with a cost of $480,000 has an estimated salvage value of $30,000...

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38. A machine with a cost of $480,000 has an estimated salvage value of $30,000 and an estimated useful life of 5 years or 15,000 hours. It is to be depreciated using the units-of-activity method of depreciation. What is the amount of depreciation for the second full year, during which the machine was used 5,000 hours? A) $90,000 B) $160,000 C) $150,000 D) $130,000 39. Intangible assets include each of the following except A) goodwill. B) patents. C) copyrights. D) land improvements. 40. What financial statement reports revenues and expenses over a period of time? A) Balance Sheet C) Cashflow Statement B) Statement of Owner's Equity D) Income Statement D) in 41. Under a perpetual inventory, the Inventory account is used in each of the following except the entry to record A) the return of goods purchased. C) payment within the discount period. B) payment of freight on goods sold. D) goods purchased on account. D) 42. The formula for calculating gross profit is A) Net Income minus cost of goods sold. B) Purchases minus sales revenue. C) Cost of goods sold minus net income. D) Net sales revenue minus cost of goods sold. tahun nf a nlant/fixed asset is the difference between the

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