sold for $141,000 at the end of its useful life. If the fleet was driven 125,000 m the current year, what is the amount of depreciation that using the straight-linc and units-of-prodaction methods, respectively would be caleulated A) S126,900 and $176,250 C) $158,625 and $141,000 B) $141,000 and $158,625 D) S126,900 and $158,625 22) Which of the following items rexuts in a contingent labilsy t Rlod against s company liability? A) Advertising expense C) Interest expense D) Income tax expense 23) Stockit Inc. has 1,000 shares of 5% $100 par value, cumulative preferred stock outstanding. In its result, Stockit's balance sheets at the end of its first two years of basiness should A) report Dividends Expense. C) report Dividends Payable. B) report Dividends Arrears Payable. D) not report any Dividends Payable. St Pierre Enterprises reported the following information in its financial statements Amounts are as of or for the year ended Prior Year Current Year $55,000 68,000 34,500 305,000 203,000 80,000 103.000 40,000 375,000 250,000 Accounts Receivable Payable Sales Revenue Cost of Goods Sold 24) Use the information above to answer the following question. What is the amount of D) $340,000 cash collected from customers during the current year? A) $410,000 B) $350,000 C) $380,500 25) Which of the following analysis techniques docs not pertain to changes over time? A) Horizontal analysis C) Vertical analysis B) Time-series analysis D) Trend analysis 26) Gencrally, freight costs incurred when a long-lived asset is purchased should be: A) added to the cost of the asset. B) expensed in the period incurred. C) deducted from the Accumulated Depreciation account. D) not recorded in the accounts. 27) The Ideal Corp. has the following information its payroll records $100,00 15,00 Salaries and wages earned by employees ess: income taxes withheld from e ess: FICA taxes withheld from employees Net pay to employees lovees $80,00