1) A factory machine was purchased for $391000 on January 1, 2021

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1) A factory machine was purchased for $391000 on January 1, 2021. It was estimated that it would have a $79000 salvage value at the end of its 5-year useful life. It was also estimated that the machine would be run 36000 hours in the 5 years. The company ran the machine for 3600 actual hours in 2021. If the company uses the units-of-activity method of depreciation, the amount of depreciation expense for 2021 would be

$31200.

$62400.

$79000.

$39100.
2) A plant asset was purchased on January 1 for $57000 with an estimated salvage value of $12000 at the end of its useful life. The current year's Depreciation Expense is $5000 calculated on the straight-line basis and the balance of the Accumulated Depreciation account at the end of the year is $20000. The remaining useful life of the plant asset is

5.0 years.

6.4 years.

114 years.

9.0 years

3) Concord Corporation bought equipment on January 1, 2021. The equipment cost $351000 and had an expected salvage value of $50100. The life of the equipment was estimated to be 6 years. The depreciation expense using the straight-line method of depreciation is

$66850.

$68850.

$50150.

None of these answer choices are correct

4) Sunland Corporation bought equipment on January 1, 2021. The equipment cost $402000 and had an expected salvage value of $61200. The life of the equipment was estimated to be 6 years. Assuming straight-line deprecation, the book value of the equipment at the beginning of the third year would be

$402000.

$170400.

$288400.

$113600