I need help with these questions. please help me out. Thank you.

1. Pegasus Corporation purchased a vein of coal ore for $5,250,000. It is estimated that 30,000,000 tons of ore are available to be extracted. The estimated depletion expense for this year's extraction of 2,750,000 tons of ore (rounded to the nearest dollar) is $525,000. $458,333. $504,167. $481,250. 2. Which of the following are considered to be legal entities that exist separate and distinct from their owners? Sole proprietorships Organizations with more than 100 partners Partnerships Corporations 3. Which of the following would indicate poor internal control over accounts receivable? The same person handling cash receipts also records the accounts receivable transactions. The person handling cash receipts passes the receipts to someone who enters them into accounts receivable. The mailroom employees open the mail and give the cash receipts to another employee. The person who handles accounts receivable would not write off accounts as uncollectible. 4. The formula for the quick ratio is quick assets divided by noncurrent assets. True False 5. Payroll is also called employee compensation and can consist of many parts. True or False 6. Changes in ownership through transfer of shares of stock have no effect on the life of a corporation. True or false? 7. The process of acquiring merchandise from a supplier begins with the? purchase order. check for payment. receiving report. invoice. 8. Which of the following is NOT a part of investing activities? Collecting on a loan receivable Borrowing money Selling off equipment Buying a building 9. During the month, Everhart Painting paid $278 to settle warranty claims. The journal entry to record the payment is debit Warranty expense, $278; credit Cash, $278. debit Estimated warranty payable, 278; credit Warranty expense, $278. debit Estimated warranty payable, $278; credit Cash, $278. debit Warranty expense, $278; credit Estimated warranty payable, $278. 10. Straight-line depreciation is calculated by the formula (cost - salvage value) divided by useful life (generally in years). True False 11. The number of shares of stock that a corporation is given the right to sell is called authorized stock. issued stock. outstanding stock. capital stock. 12. Accumulated depletion is a(n) contra-asset account. cash account. contra-liability account. expense account. 13. Appleway Corporation purchases a machine for $125,000. It has an estimated salvage value of $10,000 and is expected to produce 50,000 units in its lifetime. During the first year of operation, it produced 14,500 units. To the nearest dollar, the depreciation for the first year under the units of production method will be $35,500. $31,250. $36,250. $33,350. 14. Marketable securities that are held until the due date of the securities are trading and held-to-maturity securities. available-for sale securities. held-to-maturity securities. trading securities. 15. Cash consists of anything that a bank will take as a deposit. True False Question 16. Interest is an expense to the debtor and income to the creditor. True False 17. Allied Industries purchased a piece of equipment for $65,000 with an estimated salvage value of $15,000 on January 1. Its estimated life is five years. To the nearest dollar, what is the equipment's depreciation using double-declining-balance for year two? $ 26,000 $ 12,000 $ 20,000 $ 15,600 Question 18. The investing and financing sections of the statement of cash flows is the same for the indirect and direct method. True False 19. A known obligation of an unknown amount is a(n) estimated liability. known liability. accrued liability. contingent liability. Question 20. Differences between when a company records a transaction and when the bank records the same transaction are called timing differences. True False Question 21. Once an Account Receivable is written off, can a business ever collect that money? Only when using the allowance method can a company collect from a customer who has had an account written off. Both the allowance and direct write-off methods permit a company to collect from a customer who has had an account written off. Only when using the direct write-off method can a company collect from a customer who has had an account written off. No; GAAP does not allow a company to collect any amounts from a customer who has had an account written off. 22. Patents, goodwill, and trademarks are depreciated. expensed. amortized. depleted. 23. Warranty expense must be estimated and matched to revenues. True False Question 24. Which intangible asset is recorded only when an acquiring company purchases another company? Trademark Goodwill Franchise Brand name 25. Xenon Company has cash of $143,000, net accounts receivable of $89,000, short-term investments of $35,000, and prepaid expenses of $40,000. It also has $50,000 in current liabilities and $80,000 in long-term liabilities. The quick ratio for Xenon Company is 6.14. 4.64. 5.34. 3.34. 26. Book value is depreciable cost minus accumulated depreciation. True False 27. Investments in debt securities, such as bonds, may be classified as either current or long-term assets. True False 28. Upgrading the RAM on a computer would be an example of a(n) capital expense. betterment. ordinary repair. extraordinary repair. 29. Unearned revenues are typically classified as current liabilities. True False 30. On January 1, Bixby Machine signed a $210,000, 6%, 30-year mortgage that requires semiannual payments of $7,585 on June 30 and December 31 of each year. The journal entry to record the first semiannual payment would be (round interest calculation to the nearest dollar) to: debit Interest expense, $6,300; debit Mortgage payable, $1,285; credit Cash, $7,585. debit Interest expense, $1,285; debit Mortgage payable, $6,300; credit Cash, $7,585. debit Mortgage payable, $7,585; credit Cash, $7,585. debit Interest expense, $6,300; debit Mortgage expense, $1,285; credit Cash, $7,585