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please kindly answer alll a. 66. A company ages its accounts receivables to determine its end of period adjustment for bad debts. At the end
please kindly answer alll
a. 66. A company ages its accounts receivables to determine its end of period adjustment for bad debts. At the end of the current year, management estimated that $15,750 of the accounts receivable balance would be uncollectible. Prior to any year-end adjustments, the Allowance for Doubtful Accounts had a debit balance of $175. What adjusting entry should the company make at the end of the current year to record its estimated bad debts expense? Bad Debt Expense 15,750 Allowance for Doubtful Accounts 15,750 b. Bad Debt Expense 15,575 Allowance for Doubtful Accounts 15.575 C. Bad Debt Expense 15,925 Allowance for Doubtful Accounts 15,925 d. Accounts Receivable ,750 Bad Debt Expense 175 Sales 15,925 a. 67. Accumulated Depreciation is used to show the amount of cost expiration of intangibles b. is the same as Depreciation Expense c. is a contra asset account d. is used to show the amount of cost expiration of natural resources 68. A machine with a cost of $80,000 has an estimated residual value of $5,000 and an estimated life of 5 years or 15,000 hours. It is to be depreciated by the units-of-production method. What is the amount of depreciation for the second full year, during which the machine was used 5,000 hours? a. $5,000 b. $25,000 C. $15,000 d. $26,667 69. Equipment with a cost of $130,000 has an estimated residual value of $10,000 and an estimated life of 5 years or 12,000 hours. It is to be depreciated by the straight-line method. What is the amount of depreciation for the first full year, during which the equipment was used 3.300 hours? a. $24,000 b. $32,500 c. $33,000 d. $35,750 70. A machine with a cost of $75,000 has an estimated residual value of $5,000 and an estimated life of 4 years or 18,000 hours. What is the amount of depreciation for the second full year, using the double declining-balance method? a. $17,500 b. $37,500 c. $18,750 d. $16,667 Step by Step Solution
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