Please answer the following questions, Thanks!

Question 1

Daulton Corporation purchased a machine on January 1, 2001, at a total cost of $900,000. The machine has an estimated useful life of 10 years or 1,000,000 units of output and a salvage value of $100,000. Instructions: Complete the following table by presenting the annual amortization expense for the years 2000 and 2001, under the indicated amortization methods. Assume actual activity in terms of units of output was: 200060,000 units and 2001120,000 units. Annual Amortization Expense 2000 2001 Straight-Line: $ $ (Supporting Calculations) Double Declining-Balance: $ $ (Supporting Calculations) Units-of-Activity: $ $ (Supporting Calculations) A. ACCOUNTS RECEIVABLE-UNCOLLECTIBLE ACCOUNTS Instructions: Present the journal entries specified below; show supporting calculations. The trial balance of Vesnia Company at December 31, 2001 includes the following: Debits Credits Accounts Receivable 100,000 Allowance for Doubtful Accounts 500 Sales (all on credit) 800,000 Sales Returns and Allowances 60,000 (1) If Vesnia uses the aging method and estimates that $7,000 of receivables will be uncollectible, prepare the adjusting entry. (2) If Vesnia estimates uncollectibles at 1% of net credit sales, prepare the appropriate adjusting entry. (3) Assume that on February 10, 2001 the specific account of Nick James with a balance of $400, is deemed uncollectible. Record the write-off. (4) Assume that on May 12, 2001 James pays one-half of the above balance in full and is expected to pay the remainder within 30 days. Record the appropriate entries. B. NOTES RECEIVABLE Instructions: Prepare journal entries to record the following events: July 1 Stone Company received an 8%, 4-month $6,000 note dated July 1 from a customer on account. Nov. 1 The note is honoured and no interest has been accrued. Nov. 1 Assume instead that the note is dishonoured by its maker and there is hope of future collection