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Kansas Enterprises purchased equipment for $81,000 on January 1, 2021. The equipment is expected to have a ten-year service life, with a residual value of $7,500 at the end of ten years.
Problem 1: Using the straight-line method, depreciation expense for 2021 would be:
Multiple Choice Option 1: $7,350.
Option 2: $8,850.
Option 3: $16,200.
Option 4: $8,100.
The bank accepted an equity interest in Whale Company, What amount should be recognized as gain from debt extinguishment as a result of the equity swap?
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Gardner Corporation purchased a truck at the beginning of 2012 for $90,000. The truck is estimated to have a salvage value of $3,600 and a useful life of 120,000 miles. It was driven 18,000 miles in 2012 and 32,000 miles in 2013. What is the depre..
On December 31, Pong Inc own a $6,500 lathing machine, purchased on November 1, What is the journal entry to recorded depreciation for this machine
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Zach deposits $600 at the end of each year in an account with an APR of 5%. The balance in Yolanda's saving plan after 5 years was $ ?
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