Answer:
$46,571
Explanation:
The cost price is $500,000
The residual value is $ 11,000
Useful life is 7years
The depreciable amount will be cost price -residual value
=$500,000 - $11,000
=$489,000
Depreciation expense per year on the straight-line method will be
=$489,000/7
=$69,857. 14
After three years, the total depreciable amount will be 69,857.14 x 3
=$209,571.42
New book value after three years will be 489,000 - 209,571.42
=$279,428.58.
Useful has been adjusted to nine years. Three years have passed. Four years remain plus two added years meaning six years to go.
Depreciation from the 4th year will be
=279,428.58/6
=$46,571
Answer:
Dr Cash 254,430
Dr Discount on bonds payable 2,570
Cr Bonds payable 257,000
Explanation:
Preparation of the journal entry to record the sale of these bonds on March 1, 2022
Based on the information given we were told that Brothers Inc. issues the amount of $257,000 that includes 10-year and 8% bonds at 99 which means that the journal entry to record the sale of these bonds on March 1, 2022 will be :
March 1, 2022
Dr Cash 254,430
(257,000*99%)
Dr Discount on bonds payable 2,570
([$257,000*(100%-99%)]
Cr Bonds payable 257,000
(Being to record the sale of bonds)
Answer:
Explanation:
The journal entries are shown below:
On Jan 1 - Cash A/c Dr $5,000,000
To Bonds Payable A/c $5,000,000,
(Being bond is issued)
On June 30 - Interest expense A/c Dr $150,000
To Cash A/c $150,000
(Being interest paid for cash)
On December 31, Bonds Payable A/c Dr $5,000,000
To Cash A/c $5,000,000
(Being payment of principal is recorded on the maturity date)
Pennies or other coins work well as models for isotopes while studying radioactivity. Other objects that can also be used in place of money are paper clips, postage stamps and rubber bands. These objects are used to produce shadowgraphs as all these objects cast shadow when these are exposed to a visible light source.
Answer:
January 24, 2021 (write off)
Dr Allowance for Doubtful Accounts account 7,200
Cr Accounts Receivable account 7,200
March 4, 2021 (write off reversing)
Dr Accounts Receivable account 7.200
Cr Allowance for Doubtful Accounts account 7,200
March 4, 2021 (record collection)
Dr Cash account 7,200
Cr Accounts Receivable account 7,200
