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1) Your firm purchases equipment and you are given the following data:

• Cost $10,000
• Sales tax 700
• Delivery cost 100
• Installation cost 75

For what amount do you debit the Equipment account?

		$10,775
		$10,000
		$10,875
		$10,800
		$10,700

2) DepCo uses the straight-line method. Assets purchased between the 1^st and 15^th of the month are depreciated for the entire month; assets purchased after the 15^th of the month are treated as though they were acquired the following month. On March 20, 20X1, DepCo purchases a printer for $9,000 that it expects to last for 5 years; DepCo expects the printer to have a residual value of $2,000. What is 20X2 depreciation expense for the printer?

		$1,800
		$1,400
		$350
		$450

3) On July 1, 20X1, your company, which uses the straight-line method, purchases 3 machines, as follows:

	Cost	Salvage Value	Useful Life
Machine #1	$80,000	$14,000	12 years
Machine #2	$55,000	$10,000	8 years
Machine #3	$27,000	$3,000	5 years

Assets purchased between the 1^st and 15^th of the month are depreciated for the entire month; assets purchased after the 15^th of the month are treated as though they were acquired the following month. What is total 20X1 depreciation for the 3 machines?

		$18,942
		$7,963
		$9,471
		$15,925

4) An asset cost $50,000 and has a useful life of 5 years. At the end of year two, the asset's accumulated depreciation account has a balance of $18,000. The $32,000 difference between the cost and the accumulated depreciation is referred to as :

		residual value
		net realizable value
		book value
		depreciable base

Please answer all of these and don't skip any of these, also don't answer if you have doubts about the correctness of any of your solutions

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