pletion Status: LFI-$3.800 Average - $4,416 O FIFIO-$4,875 LFI-$3,700 Average $4,500. QUESTION 9 The Bendell Company purchased a piece of machinery for $120,000.00. It has an estimated useful life of five years or 12,000 hours and a residual value of $6,000.00. What is the calculated depreciation for years 1 and 2 by the Straight line method? O Year 1: 28,500 Year 2: 26,600 Year 1:28, 800 Year 2: 28,800 11.11111 points Save A Click Save and Submit to save and submit. Click Save All Answers to save all answers. Save All Answers Save an DELL Raining now blackboard.com/webapps/assessment/take/launch.jsp?course assessment_id=35889_1&course_id=39014_1&content_id= 13. P Mouhamn.... Show Timer Anonimato ! Link 1. Login Question Completion Status: QUESTION 8 A review of the accounting records of the Danzee Company yields the following information concerning inventory: Jan. 1, Mar. 28, May 15, July 6, 500 units at $6.00 purchase 600 units at $7.00 purchase 700 units at $8.00) purchase 400 units at $7.50 11.11111 points Save Oct. 19, purchase 350 units at $8.50 On December 31, a physical inventory was taken and showed 600 units on hand REQUIRED: Assuming a periodic inventory system, compute the dollar value of ending inventory using (A) FIFO; (B) LIFO; (C) weighed average. O FIFIO-$4,850 LFI-$3,800 Average - $4,416 FIFIO-$4,875 LFI-$3,700 Average - $4,500 Click Save and Submit to save and submit. Click Save All Answers to save all answers. Save All Answers Save a Raining now search Welcome, Mouham Anonima.to! Link 1... Login Remaining Time: 2 hours, 45 minutes, 29 seconds. Question Completion Status: QUESTION 7 The Gatedown Company's bank statement has an ending cash balance of $14,110.00. The cash account in the general ledger has a balance of $12,477.00. Based on the following reconciling items, prepare a bank reconciliation. a) Bank service charge of $20.00 b) Deposit in transit $3,190.00. c) A check was returned NSF $645.00. d) Outstanding check $688.00 e) Note collected by the bank, credit memoranda, $4,800.00 What is the final balance per books? O 16,612.00 O 17,297.00 11.11112 po- Click Save and Submit to save and submit. Click Save All Answers to save all answers. O Save All Answers Raining now to search fool Welcome. Mouham Anonima to! Link 1... Login Remaining Time: 2 hours, 45 minutes, 36 seconds. Question Completion Status: QUESTION 6 The Gatedown Company's bank statement has an ending cash balance of $14,110,00. The cash account in the general ledger has a balance of $12.477.00. Based on the following reconciling items, prepare a bank reconciliation. a) Bank service charge of $20.00 b) Deposit in transit $3,190.00 (c) A check was returned NSF $645.00 d) Outstanding check $688.00 e) Note collected by the bank, credit memoranda, $4,800.00 What is the total of subtractions to arrive at the book balance? 645.00 O 555.00 QUESTION 7 Click Save and Submit to save and submit. Click Save All Answers to save all answers. O Save All An Rainin 11.1 Remaining Time: 2 hours, 45 minutes, 45 seconds. v Question Completion Status: Allownace for DA: $8,025.00 Bad Debit Expenses $8,575.00 Allownace for DA: $8,575.00 QUESTION 5 The Bendell Company purchased a piece of machinery for $120,000.00. It has an estimated useful life of five years or 12,000 hours and a residual value of $6,000.00. What is the calculated depreciation for years 1 and 2 by the Average Costs method? Year 1: $48,000 Year 2: $28,600 O Year 1: 46,000 Year 2: $29,000 QUESTION 6 The Gatedown Company's bank statement has an ending cash balance of $14.110.00. The cash account Click Save and Submit to save and submit. Click Save All Answers to save all answers. 11.11111 poin 11.11111 por Save All Answers Raining now Remaining Time: 2 hours, 45 minutes, 52 seconds. Question Completion Status: QUESTION 4 The Summer Company ages its accounts receivable and determined the allowance account should have a balance of $8,300.00. Prepare the necessary adjusting entry assuming: a. The allowance account has a credit balance of $275.00 before adjustments b. The allowance account has a debit balance of $275.00 before adjustments A/R BAD DEBITS: B O Bad Debit Expenses $8,025.00 Allownace for DA: $8,025.00 O Bad Debit Expenses $8,575.00 Allownace for DA: $8,575.00 QUESTION 5 The Bendell Company purchased a piece of machinery for $120,000.00. It has an estimated useful life of five years or 12,000 hor Click Save and Submit to save and submit. Click Save All Answers to save all answers. Save All Remaining Time: 2 hours, 45 minutes, 59 seconds. Question Completion Status: QUESTION 3 At what amount should the following trading investment portfolio be reported on the December 31? balance sheet? All the investments are less than 5 percent of the investee's stock and were purchased late in the current year. Stock Eastman Kodak. Exxon.. General Motors........... Investment Cost Current Market Value $ 5,000 61,200 $ 5,500 $3,000 3,680 6,230 The Amounts of the investments on the Balance Sheet is O $59,222 O 64,730 QUESTION 4 Click Save and Submit to save and submit. Click Save All Answers to save all answers. 11. Save All Ar Remaining Time: 2 hours, 52 minutes, 09 seconds. Question Completion Status: Allowance For DA $7,925 Bad Debit Expense $8,025 Allowance For DA $8,025 11.11111 QUESTION 2 The Bendell Company purchased a piece of machinery for $120,000.00. It has an estimated useful life of five years or 12,000 hours and a residual value of $6,000.00. What is the calculated depreciation for years 1 and 2 by the Units of Production method? O Year 1: $28,500 Year 2: $26,600 O Year 1 $29,000 Year 2 27,000 QUESTION 3 At what amount should the following trading investment portfolio be reported on the December 31? Click Save and Submit to save and submit. Click Save All Answers to save all answers. C 11.11 Save All Answe Raining 9 earch Welcome, Mouham Ato Link 1 Login Remaining Time: 2 hours, 54 minutes, 39 seconds. Question Completion Status: QUESTION 1 The Summer Company ages its accounts receivable and determined the allowance account should have a balance of $8,300.00. Prepare the necessary adjusting entry assuming: a. The allowance account has a credit balance of $275.00 before adjustments b. The allowance account has a debit balance of $275.00 before adjustments A/R BAD DEBITS: A Bad Debit Expense $7,925 Allowance For DA $7,925 O Bad Debit Expense $8,025 Allowance For DA $8,025 11.11111 po Click Save and Submit to save and submit. Click Save All Answers to save all answers. Save All Answers Raining now