3) Carrying value is constant during an asset's useful life.
4) Depreciation expense equals the depreciable cost divided by an asset's useful
life.
Question 17 (1.5 points)
On January 1, 2019, Joan Co. started the year with a balance of $246,000 in
Retained Earnings and a balance of $302,500 in Share Capital. During 2019, the
company earned net income of $46,000, paid a cash dividend of $7,600, and issued
additional shares for $13,750. What is total shareholders' equity on December 31,
2019?
1) $600,650.00
2) $794,150.00
3) $615,850.00
4) $548,500.00
Question 18 (1 point) Saved
Laura Co. started the year with total assets of $120,000 and total liabilities of
$75,000. During the year, the business recorded $82,000 in service revenues,
$45,000 in expenses, and paid dividends of $5,000. Shareholders' equity at the end