1.Accumulated Depreciation

a.is the same as Depreciation Expense

b.is used to show the amount of cost expiration of intangibles

c.is used to show the amount of cost expiration of natural resources

d.is a contra asset account

4.A machine with a cost of $68,213 has an estimated residual value of $4,410 and an estimated life of 3 years or 19,191 hours. It is to be depreciated by the units-of-activity method. What is the amount of depreciation for the second full year, during which the machine was used 3,495 hours? Do not round your intermediate calculations.

a.$11,619.59

b.$12,422.72

c.$42,535.33

d.$21,267.67

5.Equipment with a cost of $166,763 has an estimated residual value of $7,714 and an estimated life of 7 years or 12,797 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 equipment was used 3,088 hours?

a.$7.00

b.$22,721.29

c.$51.51

d.$38,379.57

6.A machine with a cost of $61,200 has an estimated residual value of $3,523 and an estimated life of 5 years or 16,587 hours. What is the amount of depreciation for the second full year, using the double-declining-balance method?

a.$24,480.00

b.$12,240.00

c.$14,688.00

d.$23,070.80

11.On June 8, Williams Company issued an $75,212, 6%, 120-day note payable to Brown Industries. Assuming a 360-day year, what is the maturity value of the note? When required, round your answer to the nearest dollar.

a.$79,725

b.$4,513

c.$76,716

d.$75,212

19. Levi Company issued $88,000 of 7% bonds on January 1 of the current year at face value. The bonds pay interest semiannually on January 1 and July 1. The bonds are dated January 1 and mature in 5 years on January 1. The total interest expense related to these bonds for the current year ending on December 31 is

a.$4,620

b.$6,160

c.$513

d.$3,080

20. On the first day of the fiscal year, a company issues a $950,000, 9%, 5-year bond that pays semiannual interest of $42,750 ($950,000 x 9% 1/2), receiving cash of $884,176. Journalize the entry for the issuance of the bonds.

If an amount box does not require an entry, leave it blank.