Question 6 (1 point Sales tax Payable e iscredited and Cash Al is debied when form send sales tes collected from customers to the government True False Question 7 points An equipment costing $10,000 purchased on January 1st, with residual value of 1,000 and eated us fe is 5 years 36.000 units Actual production during the year is 7,000 units. The annual depreciation for the year ended Dec 31st, under Sorghe Line method would be 0. OD O 2000 1800 1750 1950 Question 8 point Formula for calculating the straight line depreciatonis Cost/Useful Life Residual Value / Useful Cost Residual Value Useful Life Cost - Residual value Useful Life Od Question 9 (1 point) Legla right for the extraction of oil and gas from the earth are called as Ob Od Od Drilling Right Trade Right Lease Right Copy Right Question 101 point) The original cost minus acculumated depreciation is called as O. O Oc Od Carrying Value Replacement Viace Realizable Value Residual Value Question 11 ) All expected future payments are labilities True False