Question: Question 14 Jim & Co. purchased a Machine for $128,000 on 1 March 2022. Its Residual Value is $8,6 is 10 years. Jim & Co.

Question 14 Jim & Co. purchased a Machine for $128,000 on 1 March 2022. Its Residual Value is $8,6 is 10 years. Jim & Co. uses straight line method of depreciation. What is the annual d 2027? Jim & Co. uses a calendar year for accounting purposes. A. B C. D. $12,000 $12,800 $ 8,000 Cannot say $8,000 Cannot say $12,800 $12,000 Question 15 which statement is true for journalising the payment of common share dividend? Retained earnings is debited and Common Share Dividend Payable is credited Retained earnings is credited and Common Share Dividend Payable is debited Cash is credited and common Share Dividend Payable is debited Cannot say be Cash is credited and Common Share Dividend Payable is debited Retained earnings is credited and Common Share Dividend Payable is debited Cannot say Retained earnings is debited and Common Share Dividend Payable is credited

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