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LO 6-7: Show how continuing expenditures for operational assets affects financial statements (prerequisite LO 6-1)
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Assessment 5: On January 1, Year 1, Marino Moving Company paid $48,000 cash... LO 6-7
On January 1, Year 1, Marino Moving Company paid $48,000 cash to purchase a truck. The truck was expected to have a four year useful life and an $8,000 salvage value. Marino uses the straight-line method. On January 1, Year 3, Marino’s accounting records contained the following account balances:

Truck 48,000

Acc. Dep. (20,000)

Also, on January 1, Year 3 the company paid $10,000 to replace an engine that extended the useful life of the asset from a total of four years to a total of seven years. Based on this information, the amount of depreciation expense shown on the Year 3 income statement is

Multiple Choice

$9,200.

$6,000.

$5,200.

$2,000.

Symantec corp., located in cupertino, california, is one of the world's largest producers of security and systems management software. the company's consolidated balance sheets for the 2009 and 2008 fiscal years included the following ($ in thousands): current assets: receivables, less allowances of $21,766 in 2009 and $24,089 in 2008 $ 838,010 $ 758,700 a disclosure note accompanying the financial statements reported the following ($ in thousands): year ended 2009 2008 (in thousands) trade accounts receivable, net: receivables $ 859,776 $ 782,789 less: allowance for doubtful accounts (8,938) (8,990) less: reserve for product returns (12,828) (15,099) trade accounts receivable, net: $ 838,010 $ 758,700 assume that the company reported bad debt expense in 2009 of $2,000 and had products returned for credit totaling $3,230 (sales price). net sales for 2009 were $6,174,800 (all numbers in thousands).required: what is the amount of accounts receivable due from customers at the end of 2009 and 2008? what amount of accounts receivable did symentec write off during 2009? what is the amount of symentec’s gross sales for the 2009 fiscal year? assuming that all sales are made on a credit basis, what is the amount of cash symentec collected from customers during the 2009 fiscal year?

When sending a claim to an insurance company for services provided by the physician, why are both icd-10 and cpt codes required to be submitted? how are these codes dependent upon each other? what would be the result of not submitting both codes on a medical claim to an insurance company?

In order to be thoughtful about the implementation of security policies and controls, leaders must balance the need to reduce with the impact to the business operations. doing so could mean phasing security controls in over time or be as simple as aligning security implementation with the business’s training events.