NICO Corporation had net fixed assets of 2,000,000 at the end of ...

[eruditmonkey@yahoo.com]

NICO Corporation had net fixed assets of 2,000,000 at the end of 2015 and 1,800,000 at the end of 2014. In addition, the firm had a depreciation expense of 200,000 during 2015 and 180,000 during 2014.
 
  Using this information, NICO's net fixed asset investment for 2015 was ________.
  A) 20,000
  B) 0
  C) 380,000
  D) 400,000

Question 2

A firm issued 5,000 shares of 1 par-value common stock, receiving proceeds of 20 per share. The amount recorded for the paid-in capital in excess of par account is ________.
 
  A) 5,000
  B) 95,000
  C) 100,000
  D) 0

[cuttiesgirl16]

Answer to Question 1

D

Answer to Question 2

B

[eruditmonkey@yahoo.com]

Excellent

[Joy Chen]

TYSM