Please do all parts!

16. The accounting equation must remain in balance a. only when formal financial statements are prepared. b. only when journal entries are recorded. c. throughout each step in the accounting cycle. d. only at the time the trial balance is prepared. 17. 18 When computing the amount of interest cost to be capitalized, the concept of "avoidable interest" refers to a. the total interest cost actually incurred. b. a cost of capital charge for stockholders' equity c. that portion of total interest cost which would not have been incurred if expenditures for asset construction had not been made. d. that portion of weighted-average accumulated expenditures on which no interest cost was incurred. Which of the following must be considered in estimating depreciation on an asset for an accounting period? a. Its useful life b. The decline of its fair market value C. The original cost of the asset d. Both the original cost of the asset and its useful life The debit for a sales tax properly levied and paid on the purchase of machinery preferably would be a charge to a. the machinery account b. a separate deferred charge account. c. miscellaneous tax expense (which includes all taxes other than those on income). d. accumulated depreciation--machinery. of the following items, the only one which should not be classified as a current liability is a. current maturities of long-term debt. b. sales taxes payable. c. short-term obligations expected to be refinanced. d. unearned revenues. 19. 20