Question 24 1 pts On January 1, 20X1, Emily's Boutique purchased equipment for $74,000 which is expected to have a 8- year useful life and a $4,000 salvage value. Using straight-line depreciation, what is the accumulated depreciation on this equipment through December 31, 20X3? O $9,250 O $8,750 O $27,750 O $26,250 Question 26 1 pts In the reporting of property, plant, and equipment, the IASB's International Financial Reporting Standards (IFRSs) allow the use of: o historical cost minus accumulated depreciation only. O asset revaluation to fair value at the financial statement date only. O either historical cost minus accumulated depreciation or asset revaluation to fair value at the financial statement date. O None of the above. Question 25 1 pts On January 1, 20X1, Emily's Boutique purchased equipment for $74,000 which is expected to have a 8- year useful life and a $4,000 salvage value. Using straight-line depreciation, what is book or carrying value of this equipment that will appear in the statement of financial position on December 31, 20X3? 0 $42.000 O $44,000 O $47,750 0 $46,250 Question 30 1 pts Which of the following types of accounts is not a temporary equity account? Revenues O Expenses O Dividends O Retained earnings