Carey Company buys land for $50,000 on 31/12/2016 . As of 31/3/2017, the land has appreciated in value to $50,700. On 31/12/2017, the land has an appraised value of $51,800. By what amount should the Land account be increased in 2017?

Select one:

a. $700

b. The answer does not exist

c. $1,100

d. $0

e. $1,800

_______________

A $100 petty cash fund has cash of $15 and receipts of $86. The journal entry to replenish the account would include a

Select one:

a. credit to Cash for $86.

b. debit to Cash for $86.

c. The answer does not exist

d. credit to Petty Cash for $1.

e. credit to Cash Over and Short for $3.

__________________

A company receives $396, of which $36 is for sales tax. The journal entry to record the sale would include a

Select one:

a. debit to Cash for $360.

b. The answer does not exist

c. debit to Sales Tax Expense for $36.

d. credit to Sales Taxes Payable for $36.

e. debit to Sales Revenue for $396.

_________________

Equipment was purchased for $300,000. Freight charges amounted to $14,000 and there was a cost of $40,000 for building a foundation and installing the equipment. It is estimated that the equipment will have a $60,000 salvage value at the end of its 5-year useful life. Depreciation expense each year using the straight-line method will be

Select one:

a. $48,000.

b. $58,800.

c. The answer does not exist

d. $49,200.

e. $70,800.