In order to keep accurate records about the collection of cash for a previously written off account, collection of cash for a previously written off account, a business should re-establish the Accounts Receivable by crediting the receivable account

KK company bought a delivery truck for $62,000 on January 1, 2009. They installed a rear hydraulic lift for $8,000 and paid sales tax of $3,000. In addition, KK paid $2,400 for a one-year insurance policy and $500 for registration fees. They estimate the useful life of the truck to be 10 years and its residual value to be $8,000. If KK uses the double-declining balance method, how much is depreciation expense in 2010?

a. $12,144 b. $11,680 c. $10,400 d. $11,760

Suppose you invest in 110 shares of Merck (MRK) at $40 per share and 120 shares of Yahoo (YHOO)at $25 per share. If the price of Merck increases to $45 and the price of Yahoo decreases to $22 per share, what is the return on your portfolio?

A) 7.70% B) 4.11% C) 2.57% D) 3.47%