1)The following transactions of M&B Merchandise Company are given:

January 2, 2019	Purchased merchandise for TL 23.000 under the condition 10/6; n/30.
January 4, 2019	Returned merchandise worth TL 6.000.
January 6, 2019	Sold merchandise for TL 8.000 under the condition 4/7; n/30. The cost of merchandise sold was TL 5.000.

What is the value of merchandise after these transactions?

		17.000 TL
		15.000 TL
		11.000 TL
		12.000 TL

2)Company Z discovered that some merchandise purchased on account was defective and returned the goods to the supplier. The entry to record this return will reduce Company Zs:

		Sales return and the cost of goods sold
		Inventory and cost of goods sold
		Inventory and liabilities
		Sales revenue and liabilities

3)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 ending balance of accumulated depreciation at December 31, 2017, will be:

		$7,200
		$15,200
		$14,400
		$7,600

4)Machinery acquired new on January 1 at a cost of $80,000 was estimated to have a useful life of 10 years and a residual salvage value of $20,000. Straight-line depreciation was used. The depreciation expense for the seventh year of use would be in value of:

		$42,000
		$6,000
		$8,000
		$2,000