On January 1, 2018, Manzanita Manufacturing purchased a machine for $345,000 with an expected life of 5 years and a residual value of $37,500. In addition, the company paid delivery costs of $3,000 and $12,000 to have the machine installed. Manzanita uses the double-declining-balance method of depreciation. If the company sells the machine at the end of 5 years and receives $28,750, the journal entry to record the sale will include which of the following?

A. Credit to Residual Value for $30,000.
B. Credit to Machine for $345,000.
C. Debit to Loss on Sale for $8,750.
D. Debit to Accumulated Depreciation for $345,000.

Jennifer purchased a house in a brand new development in the outskirts of town. when her house was built, the nearest fire department was nearly 20 miles away. as her neighborhood developed, the density of the community called for a new fire department 1.5 miles away. what effect will the new fire station have on her homeowners insurance premium? a. a new fire department will be more demanding on local taxes. her annual premium will go up. b. the location of a fire department has no bearing on the value of her house. her annual premium will stay the same. c. the new fire department will reduce the risk of financial loss in her home. her annual premium should decrease. d. with a fire department so close (less than 5 miles), financial risk on jennifer’s home practically disappears. she will not need to pay insurance anymore.

Double corporation acquired all of the common stock of simple company for

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