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Question 3 1 pts Bob's BLT's purchases a sandwich making machine for $8,739 at the beginning of Year 1. He expects the machine to last
Question 3 1 pts Bob's BLT's purchases a sandwich making machine for $8,739 at the beginning of Year 1. He expects the machine to last 8 years, and expects the machine to have a salvage value of $726. Given this information, how much depreciation expense will Bob record for the machine each year? Round your final answer to two decimal places. Question 9 1 pts On September 1st, Uyen purchased a noodle-making machine for her noodle shop. The machine cost $2,152, and Uyen expects to be able to use it for four years. The monthly depreciation on the machine will be $32. What is the residual value (also known as the salvage value) of the machine? D Question 11 1 pts Mahmoud Manufacturing buys rugs to resell to customers. Mahmoud's December 31st T-Account balances, before recording Tax Expense and the closing journal entry, are below. Cash 1,790 Accounts Receivable 210 Inventory 9,230 Equipment 1,200 Accounts Payable 300 Salary Expense 960 Salary Payable 640 Interest Expense 90 Additional Paid-In Capital 3,000 Notes Payable 4,530 Retained Earnings 0 Rug Revenue 6,225 Cost of Goods Sold 1,040 Rent Expense 465 Common Stock 30 Tax Expense 0 Tax Payable 0 Using the above information, Mahmoud first records his income tax expense, and then makes his closing entry. How much will Mahmoud debit or credit Retained Earnings for in his closing journal entry? Assume an income tax rate of 3% of net income before taxes. Use a negative number to represent a debit to Retained Earnings. Round your final answer to one decimal place. u Question 13 1 pts Paris's Plants sells plants at a retail front, and also provides gardening services for customers. On August 1st, Paris sold gardening services to a customer for $7,693. The contract was designed so that Paris would maintain the customer's yard at the end of each month for a year, ending July 31st of the next year. Assuming Paris's accounting year end is December 31st, how much Unearned Revenue will Paris report on their December 31st balance sheet? Round your final answer to two decimal places
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