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Damm [24]
3 years ago
11

Equipment was purchased for $161500. Freight charges amounted to $5500 and there was a cost of $10000 for building a foundation

and installing the equipment. It is estimated that the equipment will have a $38000 salvage value at the end of its 5-year useful life. Depreciation Expense each year using the straight-line method will be
Business
1 answer:
NISA [10]3 years ago
4 0

Answer:

$27,800

Explanation:

Straight line depreciation expense = (Cost of asset - Salvage value) / useful life

Cost of asset = $161500 + $5500 +  10000 =$177,000

$177,000 - $38000 = $139,000 / 5 =$27,800

depreciation expense each year would be $27,800

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On August 1, 2021, Trico Technologies, an aeronautic electronics company, borrows $19.7 million cash to expand operations. The l
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Answer: Please see answers in explanation ncolumn

Explanation:

Journal entry for Trico Technologies

1) To record issuance of notes

Date             General Journal        Debit          Credit

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Adjustment for Interest

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To record accrual of interest at Year end.

Date             General Journal        Debit           Credit  

Dec 31st,2021   Interest expense $738,750

Interest payable                                                           $738,750

3. Record Payment of Note at maturity

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Jan 31st,2022     Notes payable      $19,700,000

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8 0
2 years ago
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Angelina_Jolie [31]

Answer:

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Governments use different methods to regulate money flow within the economy and also to borrow money for running it's activities.

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Government securities represents the total amount of debt owed by the Federal government

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Answer:

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