Hi, I have an accounting practice test I answered all of them but I'm not sure if there are any mistakes... plz take a look at the pictures and tell me if there are .. + tell me the formula ...( if you are not totally sure plz do not answer) thank you ! Answer the 5 question or don't answer!
se the following information to answer the next two questions. a machine at the beginning of year 2010 for $38,000. In addition, paid $2,000 to have the machine delivered and installed. The estimated useful life of the machine is 5 years, and the expected salvage value is $4,000. Given the information in the preceding two questions, what would be the book value at the end of Year 3? A, $30,000 B) $26,250 C. $25,000 D. $28,750 estimated a machine at the beginning of 2011 paying $100,000 cash and signing an interest-bearing note for $200,000. The produce useful life of the machine is 5 years and the estimated salvage value is e machine is expected to 2011 if 135,000 units its life and if 20,000 are produced in 2011, the depreciation shown Tulip's books for the units of activity method of depreciation is used would be B. $44,444. C. $60,000 D. $80,000 17. Lemon bought a machine at the beginning of 2010 paying $100,000 cash and signing an interest-bearing note for $200,000. The estimated useful life of the machine is 5 years and the estimated salvage value is $30,000. How much depreciation expense would be recorded for 2011 (the second year of the assets life), if the company uses the double declining balance depreciation method? B. $72,000 $120,000 $180,000 D. $108,000 18. When an NSF check is returned by the bank, a business should show it on their boo B. Temporary investment Cash over or short D A receivable A. Cash 19. A good device for you to recommend to a business for cont over cash received in their stores would be a Cash register A petty cash ledger B. Magnetic bar codes on products D. A voucher system 20, Umbrella received its monthly bank statement, which showed an ending balance of $30,000. Adjustments on Spring Break's monthly bank reconciliation included a deposit in transit, $4,000 outstanding checks, $6,000, "NSF" check for $1,000, bank service charge of $60, proceeds of a customer's note collected by the bank of $8,000 What was the corrected cash balance shown on the balance sheet at the end of the month B) $28,000 C. $26,940 D. $34,940 A. $27,000
