QUESTION 3 Mobile Sales has five employees which receive weekly paychecks. Each earns $11.50 per hour and each has worked 40 hours in the pay period. Each employee pays 12% of gross in Federal Income Tax, 3% in Sute Income Tax, of ons in Social Security Tax, 1.5% of gross in Medicare Tax, and 1/24 in State Disability Insurance. None of the employees is subject to a ceiling amount for Social Security. What is the amount of Sales Wages Expense? a. 2,300.00 b. 1.771.00 C. 2,870.00 d. 2,829.00 4 points Save answer QUESTION 4 A credit balance in the Allowance for Doubtful Accounts a. indicates that actual bad debt write-offs have exceeded previous provisions for bad debts b. indicates that actual bad debt write-offs have been less than what was estimated C. is not the normal balance for that account d. cannot occur if the percentage of receivables method of estimating bad debts is used 4 points Save Answer QUESTION 5 Machinery is purchased on July 1 of the current fiscal year for $240,000. It is expected to have a useful life of 4 years, or 25.000 operating hours, and a residual value of $15,000. If the current fiscal year ends December 31 compute the depreciation for the second full year using the double declining method a. 560,000 b. $90,000 C. $16,667 d. $120,000 4 points Save