10 a) On August 1, Hulk Inc. issued a $50,000, 9%, 150-day note payable to Scott Co. Assuming a 360-day year for your calculations, what is the maturity value of the note?

		$51,125
		$50,000
		$51,875
		$54,500

b)

Which of the following will have no effect on an employee's net pay?

		Social security tax
		Federal Unemployment tax
		Medicare tax
		Number of allowances claimed on form W-4.

c)

The amount of federal income tax withheld from an employee's gross pay is recorded as a _________ by their employer.

		receivable
		expense
		asset
		liability

d)

Machinery with a cost of $150,000 has an estimated residual value of $10,000 and an estimated life of 5 years or 50,000 hours. It is to be depreciated by the straight-line method. What is the amount of depreciation for the first full year, during which the machinery was used 9,000 hours?

		$28,000
		$25,200
		$60,000
		$30,000