answer the following with the explenations

17. Depreciation is an expense that does not use cash during the period in which it is recognized. When did (will) the cash ourivm c. $34,700. d. $19,700. associated with the asset occur? a. When the asset is retired b. There is no cash outflow associated with depreciation or the asset. c. When the replacement cost of the asset increases 18. The balance in accumulated depreciation on January 1 and December 31 is $15,000 and $19,000, respectively, during a year in mhich d. When the asset was acquired no assets were disposed. Depreciation expense during the year is: a. $19,000. b. $15,000. c. $4,000. d. $34,000. 19. On January 1, Comicon Corp. purchased land with a usable building on it for $300,000. At the time of purchase, the fair market valoes of the land and building were $100,000 and $150,000, respectively, Comicon depreciates the building using the straight-hine method over 20 years with an expected $24,000 residual value. The annual depreciation expense on the building is: a. $0. b. 55,000 . c. $7,800. d. $10,800 20. On January 1, Scion Co. purchased land with a usable building on it for $210,000. At the time of purchase, the fair market 7alues of the land and building were $80,000 and $160,000, respectively. Scion assigned the entire purchase cost of $240,000 to land. $cion should depreciate the building using the straight-line method over 20 years with an expected zero residual value. As a resuit of Scion's treatment of the purchase of land and building, its current net income is: a. understated by $10,500. b. understated by $7,000. c. overstated by $7,000. d. overstated by $10,500. 22. Which one of the following depreciation methods will typically result in the smallest amount of current taxes paid during the early periods of an asset's life? a. 150% declining balance method. b. Units of production method. c. Double-declining-balance method. d. Straight-line method. 23. Which one of the following depreciation methods will typically result in the smallest earnings per share during the early periods of an asset's life? a. 150% declining balance method. b. Units of production method. c. Double-declining-balance method. d. Straight-line method. 24. Sandeep Inc. uses double-declining-balance depreciation for an asset with a 4-year life expectancy and no salvage value. Degreciation expense for the second year of the asset's life is calculated by: a. [2 Book Value] /4 b. [2( Cost-Salvage Value ]/4 c. [(2 Book Valuc )/4] - Accumulated Depreciation d. [2Cost]/4 25. Kristin, Inc. depreciates its plant assets over a 10 -year life with a 10% salvage value. Using straight-line depreciution, which calculation will Kristin use during year 2 of the asset's life? a. 10% (Cost - Salvage Value) b. (Cost - Salvage Value)/10 1010% c. Book Value 10% d. Book Value x [10% - Salvage Value ]