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anlez ID: B and an estimated salvage value of $9,000. Double-deelining on January 1, 2010 for $51,000. The machinery has an estimated life of 7 years balance depreciation for 2011 would be a. $6,000 b. $10,929 c. $10,408 d. $10,500 12. The objectives of internal control are to provide control over "internal-use only" reports and employee internal conduct b. a. provide reasonable assurance that operations are managed to achieve goals, financial reports are accurate, and laws and regulations are complied with control the internal organization of the accounting department personnel and equipment d. c. prevent fraud, and promote the social interest of the company The debit side of an account a is the left side of the account b. depends on whether the account is an asset, liability or stockholders" equity item e. can be either side of the account depending on how the accountant set up the system 13 is the right side of the account 14. In which of the following types of accounts are increases recorded by credits? a. expenses, liabilities b. liabilities, dividends c. revenues, liabilities d. dividends, assets An employee receives an hourly rate of $40, with time and a half for all hours worked in excess of 40 during a week. Payroll data for the current week are as follows: hours worked, 46; federal income tax withheld $350, cumulative earnings for year prior to current week. S99.700, social security tax rate, 6.0% on maximum of $100,000, and Medicare tax rate, 1.5% on all earnings, what is the gross pay for the employee? a. $1,562.60 b. $1,960.00 C. $1,840.00 15. d. $775.00 The assets and liabilities of the company are $128,000 and $84,000, respectively. should equal 16. Stockholders' equity $44,000 a. b. $212,000 c. $84,000 d. $128,000 17. Most employers are required to withhold from employees wich of the following employment taxes? a. b. c. d. FICA tax only state unemployment compensation tax FICA tax, state and federal unemployment compensation tax only federal unemployment compensation tax