Machinery is purchased on July 1 of the current fiscal year for $240,000. It is expected to have a useful life of 4 years, or 25,000 operating hours, and a residual value of $15,000 Compute the depreciatioh for the last six months of the current fiscal year ending December 31 by each of the following methods: a. Straight-line b. Double-declining balance C. Units-of-output (used for 1,600 hours during the current year) On January 1, $948,000, 5-year, 10% bonds, were issued for $919,560. Interest is paid semiannually on January 1 and July 1. If the issuing corporation uses the straight-line method to amortize discount on bonds payable, what is the semiannual amortization amount? Select the correct answer. $47,400 $2,844 $5,688 $28,440 An employee receives an hourly wage rate of $22, with time and a half for all hours worked in excess of 40 hours during a week. Payroll data for the current week are as follows: hours worked, 48; federal income tax withheld, $367; social security tax rate, 6.0%; and Medicare tax rate, 1.5% on all earnings. What is the gross pay for the employee? Select the correct answer. $1,584 $2,112 $1,056 $1,144