Question: 3 and 4 plz Question 3 (2 points) Saved Royal Company purchased a dump truck at the beginning of 2015 at a cost of $60,000.

3 and 4 plz Question 3 (2 points) Saved Royal Company

3 and 4 plz

Question 3 (2 points) Saved Royal Company purchased a dump truck at the beginning of 2015 at a cost of $60,000. The truck had an estimated life of six years and an estimated residual value of $24,000. On January 1, 2016, the company made major repairs of $20,000 to the truck that extended the life one year. Thus, starting with 2017, the truck has a remaining life of five years and a new salvage value of $8,000. Royal uses the straight-line depreciation method. What is the book value of the truck to be reported on the balance sheet at December 31, 2017? $44,000 $50,000 $56.000 $62,000 Question 4 (2 points) Tulsa Corp. reported the following information for 2017 and 2018: Interest payable, December 31, 2017 Interest payable, December 31, 2018 Interest expense 2018 $ $.700 6.200 12/250 How much cash was paid for interest during 2018? $11.750 2 O $12,250 $12.500 $12.750

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