1)On January 1, 2016, Shoreham, Inc. acquired an equipment for $45,600. The estimated life of the equipment is 6 years, with an estimated residual value of $2,400. In its financial statements, Shoreham uses straight-line depreciation. The book value of the equipment at December 31, 2017, will be:

		$42,000
		$26,600
		$36,000
		$31,200

2)Sayville Dairy sold a delivery truck for cash of $8,680. The original cost of the truck was $33,600, and a loss of $5,320 was recognized on the sale. The accumulated depreciation at the date of sale must have been:

		$24,920
		$3,360
		$19,600
		$14,560

3)

On May 5, 2017, Lloyd purchased a machine for $84,000. The estimated life of the machine was 10 years, with an estimated residual value of $10,000. The service life in terms of output is estimated at 8,000 hours of operation. Assume Lloyd uses the units-of-output method and that the machine was in operation for 1,000 hours in 2017 and 1,800 hours in 2018. The book value of the machine at December 31, 2018 is:

		$25,900
		$56,700
		$48,100
		$58,100

4)

The following transactions are given for TTB Company.

10 Jun: Purchased merchandise on account from Tiger Company for TL 1.850.

15 Jun: Sold merchandise on account (TL 400) under the condition 5/10,n/30. Its cost was TL 300.

27 Jun: One customer returned the goods (TL 50). Their cost was TL 30.

28 Jun: Sold merchandise on account (TL 600) under the condition 5/10,n/30. Its cost was TL 450.

30 Jun: Collected cash for the sale from 28 Jun.

Gross Profit after these transactions is:

		620 TL
		720 TL
		300 TL
		200 TL