8. On December 31, the petty cash drawer contained the following: Petty cash vouchers for postage $ 25.00 Petty cash vouchers for entertainment 50.00 Cash (coins and currency) 25.00 Total $100.00 The journal entry to replenish the petty cash fund would be: a. Petty cash 75 Cash 75 b. Petty cash 100 Cash C. Postage Expense 25 Entertainment Expense 50 Petty cash 25 Cash 100 100 25 50 d. Postage Expense Entertainment Expense Cash e none of the above 75 The following information is available to answer questions 9 and 10: A $2,000 90-day, 6% note is dated July 11. 9. The due date of the note is: a. Oct. 11 b. Oct. 10 c. Oct. 9 d. Oct. 8 e. Oct. 7 10. Assuming a 360-day year, the maturity value of the note is: a. $2,070.00 b. $2,054.44 c. $2,030.00 d. $2,006.67 e. $2,000.00 11. Which of the following is considered to be an intangible asset? a. plant equipment b. mining properties c.land b. research and development e. patents 12. Which of the following terms does not describe the "using up" process of an asset? a. capitalization b. depreciation c. amortization d. depletion e. none of the above 13. An example of a revenue expenditure would be: a. the trade-in of one asset for another b. the purchase of an asset c. an ordinary repair of an asset d. the sale of an asset e. a major repair of an asset 14. A high-speed machine was purchased on January 1 by A & D Mill Works. The machine costs $50,000, had an estimated residual value of $5,000 and an expected useful life of 5 years. Its expected output over 5 years is 100,000 units. During the first year, 21,000 units were produced. What is the amount of the depreciation for the first full year of use assuming that the straight-line method is used? a. $9,000 b. $10,000 c. $18,000 d. $20,000 e. none of the above 15. Based on the data presented in question 14, what is the amount of depreciation assuming the use of the declining balance method at double the straight-line rate? a. $4,500 b. $5,000 c. $18,000 d. $20,000 e. none of the above Based on the data presented in question 14, what is the amount of depreciation assuming that the units of activity method is used? a. $10,500 b. $10,000 C. $9,450 d. $9,000 e. none of the above 16