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Question 10 Darby purchased a new machine on January 1, for $210,000. Darby paid $10,000 down with the rest payable in 5 equal annual payments, beginning in one year, which include interest at 10%. The amount of each payment would be: Correct Answer:$ 52,750.50 Question 11 1 Peppa Pig, Inc. had salaries payable of $6,000 at the end of tast year, paid $180,000 cash for salaries this year, how would Peppa record the payment Correct Answer: Salary Expense 174,000 Salary Payable 6,000 Cash 180,000 Question 12 On January 2, Maggie's Truck Company made a $50,000 credit sale under the terms 2/10, 1/30. If Maggie receives full payment of the account on January 11, the amount of cash received is: Correct Answer:$ 49,000 Question 13 You are buying a new Cadillac. The cost is $50,000 with 10% down, payable in 60 equal monthly payments which include interest at an annual rate of 8%. What are the monthly payments ? Correct Answer:$912.43 Question 14 Sarah Company had 6,000 shares of common stock outstanding on January 1, 2014. Sarah Company sold 4,000 shares on October 1, 2014. If the company earned $800,000 in 2014, the EPS for 2014 would be: Correct Answer:S114.28 Question 15 You have the option of 1) Purchasing a car for $32,880 with 10% down and making 60 equal monthly payments inclul The bank will charge you 8%. 2) Leasing the car for $600 per month for 60 months with a down payment of $1,500. You can purchase the car at the end of the lease for $3,000. Which of the following is correct? Correct Answer:Buying is better by $224.69 Question 16 On January 1, 2020 Burden company purchased a new piece of equipment for $44,000. They estimate that the equipment will last about 10 years and then be worth $4.000. The accumulated depreciation account at the end of 2022 (the third year) would have a balance of: Correct Answer: 5 12,000 Or