Expert answer:I need help with Accounting questions please – Bus

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Answer & Explanation:2. Equipment with a cost of $150,000 has an accumulated depreciation of $100,000. What is the historical cost of the equipment?a. $150,000b. $50,000c. $200,000d. $100,0004. The adjusted trial balance columns:a. help to ensure the ledger is still in balanceb. help to identify any errors that may have been made during adjustmentc. show updated account balances to aid in preparation of the financial statementsd. All of the above.10. The entry to close income summary (net loss) was entered in reverse—income summary was debited and capital was credited. This error will cause:a. income summary to have a credit balanceb. income summary to have a debit balancec. the assets to be overstatedd. the liabilities to be overstated12. Closing entries will:a. increase the owner’s capitalb. decrease the owner’s capital balancec. either increase or decrease owner’s capitald. not affect the owner’s capital balance22. Bob Hill’s hourly rate is $25.00, and he worked 38 hours during the week. What is his gross pay for the week?a. $950b. $780c. $1,000d. $97524. Which of the below allowances would have the least amount of taxes withheld for federal income tax purposes?a. S-1b. S-0c. S-3d. S-225. Blue’s Tax Service has two types of employees: management and clerical support. The company estimates that it will pay the clerical support $300,000 next year and the managers $255,000. For every $100, the company pays $0.14 into the workers’ compensation insurance. Calculate the amount of workers’ compensation insurance.a. $777b. $336c. $441d. None of the above

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