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Question 4 Answer saved Marked out of 1.00 Remove flag Income Taxes Payable was credited for $7,500 in the entry when Antonio Company recorded payroll. When Antonio Company records employer's payroll taxes, Income Taxes Payable should be credited for: Select one: a. $7,500 b. Some other amount. c. The answer does not exist d. $0. e. $15,000. Question 10 Answer saved Marked out of 1.00 Remove flag Using the percentage of receivables method for recording bad debt expense, estimated uncollectible accounts are $11,000. If the balance of the Allowance for Doubtful Accounts is $2,800 debit before adjustment, what is the balance after adjustment? Select one: a. The answer does not exist b. $11,000 c. $13,800 d. $8,200 e. $2,800 Question 11 Answer saved Marked out of 1.00 Remove flag A plant asset cost $2,8800 and is estimated to have a $36,000 salvage value at the end of its 8- year useful life. The annual depreciation expense recorded for the third year using the double- declining-balance method would be Select one: a. $24,120. b. $35,436. c. $40,500. d. The answer does not exist e. $27,570 Question 21 Answer saved Marked out of 1.00 Remove flag Maine Corporation's unadjusted trial balance includes the following balances (assume normal balances): Accounts Receivable $850,000 Allowance for Doubtful Accounts 18,0000 Bad debts are estimated to be 6% of outstanding receivables. What amount of bad debt expense will the company record? Select one: a. $42,500 b. The answer does not exist c. $18,000 d. $41,600 e. $24,500 23 Marked out of 100 Remove the On October 1, 2017. Holt Company places a new asset into service. The cost of the asset is $12,000with an estimated 5-year life and $30,000 salvage value at the end of its useful life. What is the book value of the plant asset on the December 31, 2017, balance sheet assuming that Holt Company uses the double-declining-balance method of depreciation? Select one: a. The answer does not exist b. $ 108,000 c. $90,000 d. $78,000 e. $114,000

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