1. After the accounts are adjusted at the end of the year, Accounts Receivable has a balance of $215,000, Uncollectible Accounts Expense has a balance of $17,500, and Allowance for Doubtful Accounts has a balance of $12,500. What is the net realizable value of the accounts receivable?
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2.In January 2011, Rogers Co. purchased a machine that cost $85,000. The equipment is estimated to have a 5-year life and a salvage value of $15,000. a) Compute the amount of depreciation expense for 2011 and 2012 using the double declining balance method. b) Compute the amount of MACRS depreciation for the above equipment for 2011 assuming the property is 5 year property and the MACRS percentage is 20%.
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