14)Which of the options below would cause the following journal entry to be made?
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The journal entry shows that a machine was sold for cash and realized a gain of$50,000.15)Tom’s Grocery purchased 5 new cash registers for their new store and they paid $2,400each for a total of $12,000 on August 1, 2013, the day they were delivered. The cashregisters are expected to have useful lives of 5 years and they are not expected to haveany salvage value. Tom's Grocery uses straight-line depreciation. The cash registerswere recorded as long-lived assets at the time of the purchase and now Tom's needs tomake an entry showing the expense related to these cash registers up to December 31,2013.The depreciable value of the cash registers is $12,000 and they have an estimateduseful life of 5 years (or 60 months), so the monthly depreciation would be $200 permonth ($12,000 / 60). To recognize the 5 months' worth of depreciation ($200 per month* 5 months = $1,000) at 12/31/13, the company would record a debit to Depreciation (anexpense, part of owners' equity) for $1,000 and a credit to Accumulated Depreciation (acontra-asset, part of assets) for $1,000.16)Quench, a bottled water supplier, has 5,496 bottles of water in their warehouse atthe end of April. One third of the bottles were purchased in February at a cost of