Question Completion Status: QUESTION 1 What is the depreciation, for the year of acquisition and for the following year of a fixed asset acquired on October 1 for $500,000, with an estimated life of 5 years, and residual value of $50,000, using the straight line method. Assume a fiscal year ending December 31 a. Yr of acquisition: $22,500, following year: $180,000 b. Yr of acquisition: $50,000, following year: $90,000 Yr of acquisition: $22,500, following year: 590,000 d. Yr of acquisition: 590,000 following year: 590,000 QUESTION 2 On January 1, Year 1, Zero Company obtained a 52,000, 4-year, 6.5% installment note from Regional Bank. The note requires annual payments of $15,179, beginning on December 31, Year 1. The December 31, Year 2 carrying amount in the allocation of periodic payments table for this installment note will be equal to a. $21,642 b. 526,000 $28,402 d. $27,635 QUESTION 3 Allowance for Doubtful Accounts has a debit balance of $1,100 at the end of the year (before adjustment), and an analysis of customers' accounts indicates collectible receivables of $12.900. Which of the following entries records the proper adjustment for bad debe expense? a. debit Allowance for Doubtful Accounts, $14,000, credit Bad Debt Expense, $14,000 b. debit Allowance for Doubtful Accounts, $11,800, credit Bad Debt Expense, $11,800 c. debit Bad Debt Expense, $14,000 credit Allowance for Doubtful Accounts, $14,000 d. debit Bad Debt Expense, $11,800, credit Allowance for Doubtful Accounts, $11,800 QUESTION 4 Click Save and Submit to save and submit. Click Save All Answers to save all answers