The calculation for annual depreciation using the straight line depreciation method is A initial cost estimated useful life B depreciable cost estimated useful life C depreciable cost estimated useful life D initial cost estimated useful life 2) On December 31, Strike Company has decided to discard one of its batting cages The initial cost of the equipment was $310,000 with an accumulated depreciation of $260,000 Depreciation has been taken up to the end of the year The following will be included in the entry to record the disposal A Accumulated Depreciation Dr $310,000 B Loss on Disposal of Asset Dr $260,000 C Equipment Cr $310,000 D Gain on Disposal of Asset Cr $50,000 3) An aging of a company's accounts receivable indicates the estimate of uncollectible receivables totals $7,900 If Allowance for Doubtful Accounts has a $700 credit balance, the adjustment to record the bad debt expense for the period will require a A debit to Bad Debt Expense for $8,600 B debit to Bad Debt Expense for $7,900 C debit to Bad Debt Expense for $7,200 D credit to Allowance for Doubtful Accounts for $700

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Question: The calculation for annual depreciation using the straight-line depreciation method is A. initial cost / estimated useful life B. depreciable cost / estimated useful life

The calculation for annual depreciation using the straight-line depreciation method is

	A.	initial cost / estimated useful life
	B.	depreciable cost / estimated useful life
	C.	depreciable cost * estimated useful life
	D.	initial cost * estimated useful life

2) On December 31, Strike Company has decided to discard one of its batting cages. The initial cost of the equipment was $310,000 with an accumulated depreciation of $260,000. Depreciation has been taken up to the end of the year. The following will be included in the entry to record the disposal.

	A.	Accumulated Depreciation Dr. $310,000
	B.	Loss on Disposal of Asset Dr. $260,000
	C.	Equipment Cr. $310,000
	D.	Gain on Disposal of Asset Cr. $50,000

An aging of a company's accounts receivable indicates the estimate of uncollectible receivables totals $7,900. If Allowance for Doubtful Accounts has a $700 credit balance, the adjustment to record the bad debt expense for the period will require a

	A.	debit to Bad Debt Expense for $8,600.
	B.	debit to Bad Debt Expense for $7,900.
	C.	debit to Bad Debt Expense for $7,200.
	D.	credit to Allowance for Doubtful Accounts for $700.

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