What is the amount of depreciation for the first full year, during which the equipment was used for 4200 hours?

1, On January 1, a machine with a useful life of five years and a salvage value of $20000 was purchased for $160000. What is the depreciation expense for year 2 under straight-line depreciation?

$28000.

$19200.

$96000.

$76800.

2, Ayayai Corp. bought equipment on January 1, 2022. The equipment cost $470000 and had an expected salvage value of $70000. The life of the equipment was estimated to be 6 years. The depreciable cost of the equipment is

$70000.

$400000.

$470000.

$66667.

3, Crane Company purchases land for $130000 cash. Crane assumes $4900 in property taxes due on the land. The title and attorney fees totaled $2100. Crane has the land graded for $4000. They paid $17000 for paving of a parking lot. What amount does Crane record as the cost for the land?

$158000.

$130000.

$136100.

$141000.

4, Equipment with a cost of $750600 has an estimated salvage value of $45000 and an estimated life of 4 years or 16800 hours. It is to be depreciated by the straight-line method. What is the amount of depreciation for the first full year, during which the equipment was used for 4200 hours?

$176400.

$187650.

$192650.

$198900.

5,Whispering Winds Corp. purchased a delivery van with a $52000 list price. The company was given a $4200 cash discount by the dealer and paid $2700 sales tax. Annual insurance on the van is $1400. As a result of the purchase, by how much will Whispering Winds Corp. increase its van account?

$47800.

$50500.

$50600.

$52000.
6, On January 1, 2020, Wildhorse Co., a calendar-year company, issued $2360000 of notes payable, of which $590000 is due on January 1 for each of the next four years. The proper balance sheet presentation on December 31, 2020, is:

Long-term debt, $2360000.

Current liabilities, $590000; Long-term Debt, $1770000.

Current liabilities, $590000; Long-term Debt, $1180000.

Current liabilities, $2360000.

Last Completed Projects