15. An asset was purchased for $107,000.00 on January 1, Year 1 and originally estimated to have a useful life of 8 years with a residual value of $12,000.00. At the beginning of the third year, it was determined that the remaining useful life of the asset was only 4 years with a residual value of $2,600.00. Calculate the third-year depreciation expense using the revised amounts and straight line method.

19. Use the adjusted trial balance for Stockton Company below to answer the questions that follow.

Stockton Company
Adjusted Trial Balance
December 31
Cash	7,530
Accounts Receivable	2,100
Prepaid Expenses	700
Equipment	13,700
Accumulated Depreciation		1,100
Accounts Payable		1,900
Notes Payable		4,300
Common Stock		1,000
Retained Earnings		12,940
Dividends	790
Fees Earned		9,250
Wages Expense	2,500
Rent Expense	1,960
Utilities Expense	775
Depreciation Expense	250
Miscellaneous Expense	185
Totals	30,490	30,490

Determine the retained earnings ending balance.

25.

On the first day of the fiscal year, a company issues a $920,000, 7%, 5-year bond that pays semiannual interest of $32,200 ($920,000 7% 1/2), receiving cash of $884,174.

	Required:
	Journalize the entry to record the issuance of the bonds. Refer to the Chart of Accounts for exact wording of account titles.