1/1/19 Co pay $50,000 for a patent estimated to have a useful life of 10 years. Co also pays $10,000 research and development costs associated with the patent and $5000 legal costs to defend the patent in court. Make appropriate journal entries:

12/31/19 the company adjusts its books to reflect patent amortization. Make the appropriate journal entry.

If 5 years ago a company bought a $10,500 piece of equipment with $500 salvage value and 10 year usefull life and is using straight-line depreciation what is its book value now? If it revises estimated life to 15 years (10 more years left) what is revised annual depreciation?

What is the cost-allocation account for a natural resourse?

On January 1, Company sells merchandise and collects $5000 in cash which includes 6% sales tax. Journalize the sale.

Companys employees earned $20,000 for the pay period ending January 31. The Company withholds $1530 FICA, $4373 Federal Income Tax and $585 State Income Tax. Journalize the entry.

On January 1 Company issues a 5 year $1,000,000 face value bond with a 5% annual coupon paid semiannually. The company issues it for $916,884 for an effective interest rate of 7% and uses the effective-interest amortization method. Journalize the issuance:

What is the total cost of the borrowing over the life of the SSS bond?

Journalize the entry on July 1 to record SSSs payment of interest and the amortization of the bond discount (assume no accrual was made June 30):

What is the accrual JE on 12/31?

On July 1 Incorporation issues a 10 year $2,000,000 face value bond with a 6% coupon paid semiannually. The Company issues it for $2,327,029 at an effective interest rate of 4%. Journalize the issuance.

Journalize the adjustments made by Incorporation on December 31 for the accrual of interest expense and the amortization of bond premium.

On February 1, ABC redeems its $3,000,000 face value bonds before maturity at a price of $2,600,000. The bonds were originally issued at a discount and currently the account Discount on Bond Payable has a debit balance of $500,000. Journalize the bond redemption.

What is a sinking fund bond?

What is a secured bond?

When would a company exercise their call on a callable bond?

How do you calculate working capital and current ratio?

Why might a company choose to issue a bond instead of issuing stock?

What are the two components of a mortgage payment?