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Questions -
Q1. The SOS company bought equipment for $100,000 at the beginning of an accounting year. The equipment is depreciated to a residual value of $10,000 using straight-line depreciation. The depreciation life of the equipment is 10 years. The equipment is sold in 7 years and 3 months for $40,000. Complete journal entries to update depreciation (since end the of last accounting period) to date of sale. The accounting period is one year.
Q2. The SOS company bought equipment for $100,000 at the begining of an accounting year. The quipment is depreciated to a residual value of $10,000 using straight-line depreciation. The depreciation life of the equipment is 10 years. The equipment is sold in 7 years and 3 months for $40,000. Complete journal entries to record sale. The accounting period is one year.
Q3. A bond was issued at the beginning of the accounting year (01/01/2018) for $8,000. The bond has a par value of $10,000 and coupon rate of 10% paid semiannually. The yield to maturity on bond is 13.74% per year compounded semiannually. Make the journal entries on 07/01 (end of first accounting period) and 12/31 (end of accounting period) to record bond amortization and interest expense based on effective interest method.
Financial Statement Analysis and Preparation
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This assignment has one case study and two question apart from case study. Questions related to document Liquidation question and Company financial statements question - Torquay Limited
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T he focus of the report is to determine the extent to which you are comfortable relying on the financial statements as presented by management .
Computation of Free Cash Flow
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