Hi there
What we need first is the book value of the equipment
The book value is
originally costing - accumulated depreciation
100,000−65,000=35,000
Since the sale price is 40000 and the book value is 35000 This result a gain of 5000 (40000-35000)
Good luck!
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Answer:
Amortization expense $11,500
To Accumulated Amortization- Leasehold improvements $11,500
(Being the expenses for the first year is recorded)
Explanation:
The journal entry is as follows
Amortization expense $11,500
To Accumulated Amortization- Leasehold improvements $11,500
(Being the expenses for the first year is recorded)
The computation is shown below:
= Incurred expenses ÷ remaining life
= $23,000 ÷ 2
= $11,500
While recording this transaction we debited the amortization expense as the expenses account is increased while at the same time the accumulated amortization should be credited as it decreased the value of the asset
Answer:
10.60%
Explanation:
First, we calcualte the returns and then solve for the rate like a normal compounding:
<u>returns:</u>
annual coupon payment. 1,000 face value x $ 13.68 = $ 136.80
sales price: 913.73
<u>total:</u> 136.8 x 6 + 913.73 = 820.80 + 913.73 =
<em />
<u>cost: </u> 947.68
to record the effective rate of return:
![\sqrt[6]{\frac{1,734.5}{947.68}} -1 = r_e](https://tex.z-dn.net/?f=%5Csqrt%5B6%5D%7B%5Cfrac%7B1%2C734.5%7D%7B947.68%7D%7D%20-1%20%3D%20r_e)
<u>effective rate of return:</u> 0.105992287 = 10.60%
Im not completely sure bc i dont see anything other than letters so im gonna say B
