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Question 18 (3 points) Refer to Aggie, Inc. If Aggie uses the straight-line method, what is the book value at December 31, 2011? $ 8,000
Question 18 (3 points) Refer to Aggie, Inc. If Aggie uses the straight-line method, what is the book value at December 31, 2011? $ 8,000 $ 6,000 $10,000 O$ 4,000 Question 19 (3 points) Refer to Aggie, Inc. If Aggie uses the units-of-production method, what is the depreciation rate per hour for the equipment? $2.00 $2.20 $.20 $.22 Question 20 (3 points) Refer to Aggie, Inc. If Aggie uses the double-declining-balance depreciation method, what amount is the depreciation expense for 2010? $8,800 $5,280 $3,728 $4,000 Aggie, Inc. Aggie, Inc. purchased a truck at a cost of $22,000. The truck has an estimated residual value of $2,000 and an estimated life of 5 years, or 100,000 hours of operation. The truck was purchased on January 1, 2009, and was used 27.000 hours in 2009 and 26,000 hours in 2010. Question 24 (3 points) Shiphen, Inc. has a weekly payroll of $10,000 for its employees who work Monday through Friday. Federal and state income taxes are withheld in the amounts of $1,700 and $400, respectively, and FICA taxes are withheld at a mandatory rate of 7.65% (6.2% for Social Security and 1.45% for Medicare). In addition, the federal and state unemployment taxes are applied at rates of 2% and 5%, respectively. Refer to the information for Shiphen, Inc. When Shiphen's journal entry is recorded for the issuance of employees' paychecks, Wage Expense will be debited for and Cash will be credited for $10,000; $6,435 $10,000; $7,135 $10,000; $10,000 $7,135: $6,435
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