1. Smith Company purchased a truck on June 30, 2019, for 160,000. It is estimated that the equipment will have a $10,000 salvage at the end of its 10-year useful life. Using the straight-line method of depreciation, the amount to be recorded as depreciation expense at December 31, 2019 is

2. A plant asset cost $90,000 when it was purchased on January 1, 2010. It was depreciated by the straight-line method based on a 9-year life with no salvage value. On june 30, 2017, the asset was discarded with no cash proceeds. What gain or loss should be recognized on the retirement?

3. A company purchased land for $90,000 cash. Real estate brokers commission was $5,000 and 7,000 was spent for demolishing an old building on the land before construction of a new building could start. Under the historical cost principle, the cost of land would be recorded at:

4. In 2018, Sony Corporation had net credit sales of $1,250,000. On January 1, 2018, Allowance for Doubtful Accounts had a credit balance of $30,000. During 2018, $20,000 of uncollectible accounts receivable were written off. Past experience indicated that the allowance should be 10% of the balance in account receivables. If the accounts receivable balance at December 31 was $400,00, what is the required adjustment to the Allowance for Doubtful Accounts at December 31, 2018?