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Pebble Beach Company buys a piece of...

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Accounting

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Pebble Beach Company buys a piece of equipment for $50,000. The equipment has a useful life of five years. No residual value is expected at the end of the useful life. Using the double-declining-balance method, what is the company's depreciation expense in the first year of the equipment's useful life? (Do not round intermediate calculations.) Multiple Choice $20,000 $12,500 $25,000 $10,000 Mills Corporation's balance sheet included the following information: If the Allowance account had a credit balance of $24,500 immediately before the year-end adjustment for bad debts and no accounts were written-off or allowed for during the year, what was the amount of Bad Debt Expense recognized during the year? Multiple Choice $59.000 $34,500 $24,500 Marshall Company purchases a machine for $440,000. The machine has an estimated residual value of $40,000. The company expects the machine to produce eight million units. The machine is used to make 700,000 units during the current period. If the units-of-production method is used, the depreciation expense for this period is: Multiple Choice $38,500 $660,000 $700,000. $35,000

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