quipment with a cost of $87,107, an estimated residual value of $4,176, and an estimated life of 13 years was depreciated by the straight-line method for 5 years. Due to obsolescence, it was determined that the remaining useful life should be shortened by 4 years and the residual value changed to zero. The depreciation expense for the current and future years is

a.$6,134.50

b.$31,896.54

c.$13,802.62

d.$4,246.96

Minor Company had checks outstanding totaling $4,932 on its April bank reconciliation. In May, Minor Company issued checks totaling $40,875. The May bank statement shows that $26,483 in checks cleared the bank in May. A check from one of Minor Company's customers of $698 was also returned marked "NSF." The amount of outstanding checks on Minor Company's May bank reconciliation should be

a.$18,626

b.$21,551

c.$19,324

d.$67,358