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Questions -
Q1. A machine with a cost of $78,189.00 has an estimated residual value of $5,372.00 and an estimated life of 7 years or 15,337 hours. It is to be depreciated by the units-of-output method. What is the amount of depreciation for the second full year, during which the machine was used 4,778 hours?
a. $10,402.43
b. $20,804.86
c. $24,358.55
d. $22,684.99
Q2. Thompson Corporation gathered the following reconciling information in preparing its October bank reconciliation:
Cash balance per bank, 10/31 $15,602
Note receivable collected by bank 3,750
Outstanding checks 9,832
Deposits in transit 4,567
Bank service charge 167
NSF check 1,456
Using the above information, determine the cash balance per books (before adjustments) for Thompson Corporation.
a. $17,729
b. $12,464
c. $8,210
d. $10,337
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