45 Which of the following account is considered as current liabilities? OA. Notes payable with a maturity of 3 years OB. Property taxes payable OC. Mortgage payable OD. Accounts Receivable QUESTION 46 If a company reports a net income of $8 million and pays a dividend of $2 million, then "increase in retained earning" will be which of the following? OA. $16,000,000 OB. $8,000,000 OC. $2,000,000 OD. $6,000,000 QUESTION 47 In recording the "declared and paid dividend" in General Journal; which of the following transactions should be used? OA. Common stock should be debited, and dividends should be credited. OB. AVR should be debited, and cash should be credited. OC. Dividends should be debited, and cash should be credited. OD. Cash should be debited, and Dividends should be credited. QUESTION 48 In using the Sum-of-the-Digits (method of depreciation), if the cost of a machinery is $140,000, its salvage value is $40,000 and has a useful life of 5 years. What is the book value of this machinary at the end of the first year? OA. $43,333 OB. $96,667 OC. $106,667 OD. $33,333