24. A factory machine was purchased for $387000 on January 1, 2021. It was estimated that it would have a $72000 salvage value at the end of its 5-year useful life. It was also estimated that the machine would be run 36000 hours in the 5 years. The company ran the machine for 3600 actual hours in 2021. If the company uses the units-of-activity method of depreciation, the amount of depreciation expense for 2021 would be

$63000.

$72000.

$31500.

$38700.

26. A computer company has $2930000 in research and development costs. Before accounting for these costs, the net income of the company is $1990000. What is the amount of net income or loss after these R & D costs are accounted for?

$1990000 net income

$0

$940000 loss

Cannot be determined from the information provided

31. FICA Taxes Payable was credited for $28100 in the entry when Sunland Company recorded payroll. When Sunland Company records employer's payroll taxes, FICA Taxes Payable should be credited for:

some other amount.

$0.

$56200.

$28100.

32. Assuming a FICA tax rate of 7.65% on the first $166900 in wages, 1.45% on amounts in excess of $166900, and a federal income tax rate of 20% on all wages, what would be an employee's net pay for the year if he earned $191700 for the year?

$153001

$141501

$141318

$140233