what are the correct answers?

sorry for the long post, just need some help :)

Please use the following information to answer Questions 7-9: At the end of January, the unadjusted trial balance of Windsor, Inc. included the following accounts: Debit Credit $500.000 Sales (80%o represent credit sales) Accounts Receivable Allowance for Doubtful Accounts $340,000 $800 7. Windsor uses the balance sheet approach in estimating uncollectible accounts expense, and aging the accounts receivable indicates the estimated uncollectible portion to be $7.400. What is the amount of uncollectible accounts expense recognized in Windsor's income statement for January? A. $7,400. B) $6,600. C. $8,200. D. $800 8. Windsor uses the income statement approach in estimating uncollectible accounts expense, and uncollectible accounts expense is estimated to be 2% of credit sales. What is the amount of uncollectible accounts expense recognized in Windsor's income statement for January? A. $8,000 8 $10,000 C. $8,700. D. $7,200 9. Windsor uses the income statement approach in estimating uncollectible accounts expense, and uncollectible accounts expense is estimated to be 2% of credit sales. The net realizable value of Windsor's accounts receivable in the January 31 balance sheet is: A. $332,800 B. $332,000. C. $331,200. D. $340,000. Venus Wholesale Co. started carrying a new product in December. Purchases and sales of this product during the month were: Dec 20 Purchased 100 units at $80 per unit Dec 26 Sold 80 units Dec 28 Purchased 100 unts at $90 per unit 10. Assuming the LIFO flow assumption is in use, the perpetual inventory records will indicate an ending inventory of this product of: A. $9,800 17.000 $10,600. C. $10,800 D. $8,000 Please use the following information to answer Questions 11-14 Castle TV, Inc. purchased 1,000 monitors on January 5 at a per-unit cost of $185, and another 1,000 units on January 31 at a per-unit cost of $230. In the period from February 1 through year-end, the company sold 1,800 units of this product. At year-end, 200 units remained in inventory. 15000 11. Assume that Castle TV, Inc. uses the FIFO flow assumption. The cost of the 200 units in inventory at year-end is: 1000 @ 185 A $41,500 B$46,000. 860 @ 230 C. $37,000. D. $83,000 369.000 12. Assume that Castle TV, Inc. uses the LIFO flow assumption. The cost of the 200 units in the year-end inventory is: $37,000. 100 @ 230 B. $46,000. 800 @ 185 C. $41,500. D. $83,000. 15. Assume that the replacement cost of this monitor at year-end is S220 per unit. Using the FIFO How assumption and the lower-of-cost-or-market rule. Castle TV should write down the carrying value of this inventory by: $0. B. $1,000 C. $2,000 D. $3,000. 14. Assume that the replacement cost of this monitor at year-end is $210 per unit. Using LIFO flow assumption and the lower-of-cost-or-market rule, the ending inventory amounts to: A $46,000 B. $42,000. C. $37,000. D. $83,000. 15. A machine, acquired for a cash cost of $15,000, is being depreciated on a straight-line basis of $2,700 per year. The residual value was estimated to be 10% of cost. The estimated useful life is A. 3 years B. 4 years. 15,000 - 1,500 5 years. D. 6 years. 2.700 16. On January 1, 2010, Woodstock, Inc. purchased a machine costing $40,000. Woodstock also paid $1,000 for transportation and installation. The expected useful life of the machine is 6 years and the residual value is $5,000. How much is the annual depreciation expense assuming use of the straight-line depreciation method? A $6,100 $6,000 C. $5,950 D. $5,750 17. Which of the following describes the effect of recording depreciation expense at year-end? A. Net income decreases and total assets aren't affected. Total assets decrease and stockholders' equity is not affected. C. Net Income decreases and total assets decrease. D. Stockholders' equity is not affected and net income decreases. 18. Carter Company disposed of an asset at the end of the eighth year of its estimated life for $10,000 cash. The asset's life was originally estimated to be 10 years. The original cost was $50,000 with an estimated residual value of $5,000. The asset was being depreciated using the straight line method What was the gain or loss on the disposal? A $1,000 loss $4,000 loss C. $5,500 gain D. $10,000 gain 19. On January 1, 2010, Wasson Company purchased a delivery vehicle costing $40,000. The vehicle has an estimated 6-year life and a $4,000 residual value. Wasson estimates that the vehicle will be driven 100,000 miles. What is the vehicle's book value as of December 31, 2011 assuming Wasson uses the units-of-production depreciation method and the vehicle was driven 10,000 miles during 2010 and 18,000 miles during 2011? $29,920 B. $28,800 C. $24,800 D. $25,920 20. Schager Company purchased a computer system on January 1, 2010, at a cash cost of $25,000. The estimated useful life is 10 years, and the estimated residual value is $3,000. The company will use the double declining balance depreciation method. How much is the 2011 depreciation expense? A. $5,000 $4,000 25.000 - 300 $3,800 D. $2,200 10 - - 2.20 25,000 - 2.200 22,500 a computer that cost $10,000. It had an estimated useful life of five The computer was depreciated by the straight-line method and 1. Amanda Company purchased a computer that cost $10,000. It had an estimate years and a residual value of $1.000. The computer was depreciated by the straten was sold at the end of the third year of use for $5.000 cash. How much of a gain or us Year of use for $5,000 cash. How much of a gain or loss should Amanda record? A. A gain of $1,000 B. A loss of $5,000 C. Again of $400. D. A loss of $400. 22. Which of the following journal entries is correct when a depreciable asset (building) is sold for cash subsequent to acquisition? Cash Accumulated depreciation Loss on sale Building Cash Building Gain on sale Accumulated depreciation Cash Accumulated depreciation Loss on sale Building Cash Gain on sale Building 23. Merchandise was sold on credit for $30,000, terms 3/15, n/30. Which of the following journal entry descriptions correctly describes the cash collection? A. Cash is debited for $29,100 and accounts receivable is credited for $29,100 if the collection is within the discount period. B. Cash is debited for $29,100, sales discounts is debited for $900, and accounts receivable is credited for $30,000 if the collection is within the discount period. C. Cash is debited for $30,000, accounts receivable is credited for $29,100, and sales discounts is credited for $900 if the collection is within the discount period. D. Cash is debited for $29,100 and accounts receivable is credited for $29,100 if the collection is after the discount period