I want an answer for this file. Thank you. ..........

Qnum Check 1 0 2 0 3 0 4 0 5 0 6 0 7 0 8 0 9 0 10 11 12 0 0 0 13 0 14 15 0 0 0 PROBLEM 2 PROBLEM 3 ANS PROBLEM 4 PROBLEM 5 Problem I-- Put your answer in the ANS column. Leave the Check column alone, as I will use it to grade y Charlie purchased equipment with cost of $18,000, salvage value of $3,000 and life of 6 years. What is the book using SL depreciation? a. $12,500 b. $3,000 c. $18,000 d. $6,500 The depreciable cost of an asset is equal to the cost minus...a. the accumulated depreciation b. the salvage va rate d. the DDB rate Partial year depreciation: Larry purchased a truck on April 1, with cost of $28,000, salvage value of $4,000 and l SL depreciation should Larry record in year 1? a. $4,800 b. $5,000 c. $3,000 d. $3,600 Mary has a computer with cost of $12,000 and accumulated depreciation of $3,000. If the computer will last for 4 salvage value is $1,000, how much should Mary depreciate the computer each year under SL? a. $1,500 b. $3,000 If cost is $22,000 and salvage value is $2,000, and live is 4 years, what is the depreciable cost amount? $20,000 d. $5,000 a. $2 Johnson purchased a machine with cost of $10,000, salvage value of $2,000 and life of 4 years. What is the dou rate for this asset? a. .25 b. .50 c. 1/4 d. .333 On 7/1/12 Bernie purchases Equipment with cost of $28,000, salvage value of $4,000 and life of 6 years. Under Bernie will record how much depreciation expense on 12/31/12? A. $4,000 b. $4,667 c. $2,000 d. $8,000 Tony purchased a building for $60,000--with life=10 years and salvage value = $5,000. What is the book value o years, using SL? a. $60,000 b. $50,500 c. $43,500 d. $39,500 Clark owns a $100,000 truck that is estimated to last for 80,000 miles, no salvage value. If Clark drove the truck how much depreciation should be recorded? a. $4,500 b. $5,625 c. $3,600 d. $100,000. Sally borrowed $3,000 at 6% for 30 days. How much interest would Sally have to pay on this note? a. $1,800 $180 What is the interest on a $1,000 note at 6% for 3 months? a. $60 b. $30 c. $15 d. $7.50 A note was issued for $1,000 and accrued $60 of interest in one year. What was the interest rate? a. 5% b. 6% On which financial statement is Depreciation Expense reported? a. income statement b. balance sheet d. partners' equity statement c. ow Brad has an $24,000 asset with $6,000 of accumulated depreciation. Brad sells the asset for $20,000 cash. Wh a. $20,000 gain b. $4,000 loss c. $2,000 gain d. $3,000 loss On which of the following assets, would Depletion Expense be recorded? a. truck b. patent c. oil well d. ele Depreciation Bobby purchases equipment with cost of $45,000 and salvage value of $2,000 and life of 4 years. Create a STRAIGHT LINE DEPRECIATION SCHEDULE. I WILL USE THE CHECK TABLE (IN RED) TO GRADE YOUR ANSWERS AFTER YOU SUBMIT THE FILE. PL THE CHECK TABLE CELLS. Payroll Problem Payroll Problem--Irv's Texaco Station hired Millie as a cashier. Her wage rate is $26 per hour, with time-and-a-half for hours greater than 40. In the first week of January, Millie worked 45 hours. Rates: Soc Sec: 6% of first $100,000 Medicare: 1.5% of all wages Income Tax WH = $180 FUTA: .8% of first $7,000 SUTA: 5.4% of first $7,000. Partial Year Depreciation Tumwater purchased a truck for $38,000 on 06/30/15 with salvage value of $8,000 and useful life of 4 years. Depreciation is recorded on 12/31 each year to the nearest whole dollar. What is the partial year depreciation expense for year 1? What is the depreciation expense for year 2? Partnership Income Sharing--King and Bunny started a partnership, sharing income as follows: 1. Salary allowance per year of $22,000 to King, and $31,000 to Bunny. 2. Interest on capital balance for each partner of 8 percent. 3. The remainder is to be shared 40% to King and 60% to Bunny. If King had beginning capital of $90,000 and Bunny started with $100,000 of capital, how would the net income of $186,000 be shared? END OF RETEST Submit your file with a filename that consists of your 4-digit ATTENDANCE NUMBER, followed by your n For example, if your attendance number is 1001 and your last name is Smith, your filename would be 1001-Smith-Retest If your attendance number is less than 1000, start with a zero. For example, Johnson, with attendance n 0903-Johnson-Retest Submit the Excel file through Canvas. Look for the RETEST upload link. 0 Year 1 2 3 4 CHECK Depr. Cost 0 0 0 0 Rate Depr. Exp. Accum. Depr. Book Value 0 0 0 0 0 0 0 0 0 0 0 0 0 Payroll 1 Gross Pay 2 Social Security 3 Medicare Leave check column alone. CHECK 0 0 0 0 0 0 0 word Retest. 4 Inc. Tax WH 5 Net Pay 6 ayroll Tax Exp 0 0 0 0 Don't touch the check column. Year Depreciation CHECK 1 0 2 0 0 King 1 2 3 4 5 Bunny Check column--don't touch it. CHECK 0 0 0 0 0 0 0 0 0 0 0