1) A machine is purchased on January 1, 2016, for $92,000. It is expected to have a useful life of ten years and a residual value of $6,000. The company closes its books on December 31. Under the double-declining balance method, what is the total amount of depreciation to be expensed during the 2017?

a) $14,720

b) $73,600

c) $18,400

d) $18,000

2) If a company's gross salaries and wages are $20,000, and it withholds $3,000 for income taxes and $1,530 for FICA taxes, the journal entry to record the employees' pay should include a:

a) debit to Salaries and Wages Expense for $15,470.

b) credit to Salaries and Wages Payable for $15,470.

c) credit to Salaries and Wages Payable for $20,000.

d) debit to Salaries and Wages Payable for $15,470.