Current Attempt in Progress The method of depreciation used most frequently by publicly traded companies is: e Residual Value O Amortization Method Straight line Method O None of the above Which one of the following factors must be considered when calculating depreciation: O Cost Useful life Residual value O All of the above - Current Attempt in Progress ABC purchased a piece of equipment on January 1, 2022, for $54,000, it has an estimated residual value of $2,500 at the end of its five years of useful life. Using the straight-line of depreciation, what is the straight-line depreciation rate? 5% O 50% O 20% O 10% Current Attempt in Progress Vaughan Corporation operates on a calendar year basis. The company is in its first year of operations and received its annual property tax bill on March 31 for $22300. The bill is due May 1. Even though the company records adjusting entries on a monthly basis, no entries related to property taxes have been recorded. The March 31 entry to record property tax should be O debit property tax expense $5575 and credit property tax payable $5575. O debits to prepaid property tax and property tax expense for $16725 and $5575, respectively and credit to property tax payable for $22300. debit property tax expense $22300 and credit property tax payable $22300. debits to prepaid property tax and property tax expense for $16725 and $5575, respectively and credits to property tax payable and cash for $16725 and $5575, respectively. View Policies Current Attempt in Progress On March 2. Bramble Inc. obtained a loan for $118000 for 5 years at 3%. Payments are $2120 per month. How much interest expense is recorded with the first instalment payment: O $2120 O $1770 O $3540 O $295