*Just the answers are fine*

23) An internal control system is designed to

		all the choices are correct
		ensure reliable accounting
		protect assets.
		promote compliance to company policies

24) Your company buys a machine for $190,000. The machine has a useful life of 8 years and a salvage value of $10,000. The machine is estimated to produce 750,000 units of product over its useful life. The machine produces 105,000 units in its first year, and 109,000 units in its second year. In the second year, depreciation expense using the the units-of-production method, compared to the straight-line method, would be

		$4,200 more
		$2,640 less
		$3,660 less
		$3,660 more

25) ABC Company uses perpetual inventory. Details during January, 2020 are below:

UNITS COST PER UNIT TOTAL

Balance, Jan 1 200 units $5.00 $1,000

Purchase Jan 15 100 units $6.00 600

Sale Jan 20 120 units

The company sells units for $10 each. A physical count of merchandise inventory on January 31 reveals that there are 180 units on hand

If the company uses FIFO, what is the gross profit for the month?

		$1,423
		$600
		$1,376
		$1,200