$3$

$6.$ On January $1,2029,$ Vic Company purchased a machine for $$480,000$ with a useful life of $10$ years with $$20,000$ salvage. They use the straight$-$line method of depreciation. On January $1,2031,$ the company changed the salvage value estimate to $$18,000$ and changed the estimate of the total life to $18$ from the original $10.$ Vic can justify both of the changes. What should be the depreciation expense on this machine for the year ended December $31,2031?$

a$.$ $$21,555$

b$.$ $$24,250$

c$.$ $$20,556$

d$.$ $$23,125$

$7.$ On January $15,2028,$ Bella Vista Company enters into a contract to build custom equipment for ABC Carpet Company. The contract specified a delivery date of March $1,2028.$ The equipment was not delivered until March $31.$ The contract required full payment of $$75,00030$ days after delivery on April $30,2028.$ The revenue for this contract should be:

a$.$ Recorded on January $15,2028.$

b$.$ Recorded on March $31,2028.$

c$.$ Recorded on March $1,2028$

d$.$ Recorded on April $30,2028.$

$8.$ In calculating dilutive earnings per share, which of the following should NOT be considered or used in the calculation process?

a$.$ The weighted$-$average number of common stock shares outstanding.

b$.$ The amount of dividends declared on nonconvertible preferred stock.

c$.$ The amount of cash dividends declared on common stock.

d$.$ The number of common shares resulting from the assumed conversion of dilutive, convertible Bonds Payable.