10. A gain or loss on disposal of a plant asset is determined by comparing the (2 points) O replacement cost of the asset with the asset's original cost. O book value of the asset with the asset's original cost original cost of the asset with the proceeds received from its sale O book value of the asset with the proceeds received from its sale. 11. An aging of a company's accounts receivable indicates that $4,000 are estimated to be uncollectible. If Allowance for Doubtful Accounts has a $1,200 credit balance, the adjustment to record bad debts for the period will require a (2 points) O credit to Allowance for Doubtful Accounts for $4.000 O debit to Allowance for Doubtful Accounts for $2.800 debit to Bad Debts Expense for $2.800 debit to Bad Debts Expense for 54.000 6. Hull Company acquires land for $96,000 cash. Additional costs are as follows: Removal of shed $ 300 Filling and grading 1,500 Salvage value of lumber of shed 120 Broker commission 1,530 Paving of parking lot 10,000 Closing costs 560 Hull will record the acquisition cost of the land as (2 Points) The value must be a number 7. On October 1, 2011, Holt Company places a new asset into service. The cost of the asset is $80,000 with an estimated 5-year life and $20,000 residual value at the end of its useful life. What is the depreciation expense for 2011 if Holt Company uses the straight-line method of depreciation (2 Points) The authus