Question

Please answer the following 2 short answer questions.

3. Refer to the question above. What is the total amount of depreciation expense Martin Mason Inc. will record for the jet over its entire useful Iite- using the following methods? a. Straight-line? b. Units-of-production? c. Double-declining-balance? Information for question 4. Cost of Goods Sold Average Inventory White Cube Co $420,000 $7.430 Silver Octagon Inc. S310,000 S57,000 Inventory Turnover Days inventory 56.5 6.5 5.4 67.1 4. Which company is more likely having trouble selling its inventory White Cube Co. or Silver Octagon Inc.? Answer in one or two complete sentences, stating the Company name and referring to a ratio to support your answer. Note: No calculations are required. The ratio values have been provided.

Answer 1