Shaggy Limited purchased a new van on January 1, Year6. The van cost $20,000. It has an estimated life of five years and the estimated residual value is $5,000. Shaggy uses the double- declining-balance method to compute depreciation. What is the adjusted balance in the Accumulated Depreciation account at the end of Year7? (Note that 2 full years have passed.) $4, 800 $16,000 $12,000 $12, 800. $9, 600 At the beginning of Year 1, Emily Corporation issued 10,000 shares of $100 par, 5%, cumulative, preferred stock for $110 per share. No dividends have been paid to preferred shareholders in Year 1 or Year2. What amount of dividends will Emily Corporation pay to preferred shareholders in Year3 if Emily pays $1,000,000 in dividends in year3? $ 50000. $ 1,000,000. $ 150,000. $165,000. The stockholders equity section of Cinrich, Inc.'s balance sheet on January 1, Year3, appeared as follows: On March 1, Year3, Cinrich reacquired 4,000 shares of common stock at $40 per share. All common shares were originally sold for $32 each. How much should be reported in the treasury stock account on the March 31, Year3 balance sheet? (All of the numeric choices represent normal balances.) $0 $128,000 $160,000 S320.000 None of the above