1-14. If a vehicle was purchased depreciation expense will be $1,000 if the estimated uneful life is for $6,500 and has a residual value of 500, the a) 6 years b) 6.5 years c) 7 years d) 13 years 1-15. The accounting basis that attempts to measure performance in the period in which it occurred is the a) approval basis. b) cash basis. c) matching basis. d) accrual basis. 1-16. On January 1, 2014, Chester Corporation had retained earnings of $6,500. During 2014 Chester had net income of $1,050 and dividends of $450. What is the amount of Chester's retained earnings at the end of 2014? a) $7,550 b) S6,950 c) $7,100 d) None of the figures is correct