Author Question: NICO Corporation had net fixed assets of 2,000,000 at the end of 2015 and 1,800,000 at the end of ... (Read 38 times)

eruditmonkey@yahoo.com · **on:** Jul 10, 2018

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