Financial accounting 16th Edition by Jan Williams,Susan Haka,Mark Bettner ,Joseph Carcello

تمرين 24

You as a Student
Assume that you recently applied for a student loan to go to graduate school.s part of the application process, your bank requested a list of your assets.side from an extensive CD collection, your only other asset is a pickup truck.ou purchased the truck six years ago for$15,000.ts current fair value is approximately $5,000.
a.hat factors caused your pickup truck to depreciate $10,000 in value
b.ssume that the bank is willing to lend you money for graduate school.ven with the loan, however, you still need to raise an additional $5,000.o you think that the bank will lend you $5,000 more for graduate school if you agree to use your truck as collateral Explain.
c.ssume that the truck has been used solely in a delivery service business that you operated while in college.ould your balance sheet necessarily show $10,000 in accumulated depreciation related to the truck Explain.