The following financial information is from Cook Company:Accounts Payable     $ 55,000Land     90,000Inventory     10,500Accounts Receivable     7,500Equipment     8,000Deferred Revenue     58,500Short-Term Investments     20,000Notes Receivable (due in 8 months)     45,500Interest Payable     2,000Patents     75,000 What is the total amount of property, plant, and equipment assuming the accounts above reflect normal activity?

Which of the following statements accurately describes depreciation? Depreciation is used to allocate the cost of the asset over periods benefited. Depreciation is used to track the fair value of the asset. The book value of an asset is its original cost less accumulated depreciation.

Return on assets is equal to profit margin:

Depreciation will have what effect on (1) total assets, (2) total liabilities, and (3) total stockholders’ equity?

Depreciation will have what effect on (1) net income and (2) total assets?

Which one of the following statements regarding the book value of an asset is correct?

Assets acquired in a basket purchase are valued based on:

Which of the following would not be reported as land improvements?

Short Answer (use the space below). Explain with adequate textual evidence or detail from the texts. 1-2 paragraphs is usually sufficient. Maria Edgworth’s tale “The Grateful Negro” illustrates what debate of the time. Explain in relation to the characters and plot.

William Godwin