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Question 122 points) An equipment costing $10,000 is purchased on January 1, with real value of $1,000 and estimated useful is 5 years 36.000 units Actual production during the year is 7.000 units. The annual depreciation for the year ended Dec 31, under Double Deding Balance method would be 0 O Oc Od 2000 3600 1800 4000 Question 13 point Contingent Les occur when the ability is known and determinable probable and can be reliably estimated can not be reliably estimated of the above Question 14 per Ability is future payment of assess or revision of services that a company is currently obligated to make stof past transactions or Events True False Question 15 (1 point) On December 31, 200 Peligrino Co. has a long term note payable of $ 800,000. Of that balance, $ 100,000 will be paid with in one year from the balance sheet date. How much of the note payable should Peligrino Co. report as a non-current liability when they prepare the December 31, 2020 balance sheet? O a O Od $ 800,000 $100,000 $700,000 None of the above Question 16 (2 points) SportsMed sold an X-ray machine that originally cost $ 100,000 for $ 60,000 and had not recognised any profit or loss. X-ray machine has an estimated useful life of 10 years. If Sportskled uses straight line method of deprecation, the accumulated deprecation at the time of sale is O 5 60,000 $ 50,000 5 10,000 540,000

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