22-26, or more

Oa August I, a company signed a nine resonth note receivable of $60,000 with interest at a rate of 12%6. They properly accruct interest an the note on December 31. What journal entry would they make on the following April I to record the interent payment received on that date? The amount of uncollectible accounts at the cad of the year is estintated to be $29,000, using the aging of accounts receivable method. The bulance in the Allowance of Doubeful Accounts account is a $4,600 credit before adjustment. What is the Bad Debt Expense joumal entry for the year? A company buys equipment for $60,000, expects to uce it for six years, and then sell it for $6,000. Using the straight-line method, the company should report annual depreciation for the cquipment of What is the formula needed to calculate book value of an asset? A company parchased a parcel of land for $210,000. It paid attomey fees of $1,000 to verify title to the land. In addition, it paid a broker's fee of $6,000 to help find a suitable parcel of land. What is the joumal entry to recerd this asset? What is the difference between a capitalized cost and an expensed cost? Oa January I. a company purchased equipment for $120,000. It has an estimated useful life of five ycars and its residual value is 520.000. The company has a calendar year-end. Using the straight-line method, book value at the end of the secoad year of its life cquals: On January I, a company purchased a truck for 560,000 which has an estimated productive life of 125,000 miles. Its residual value is $10,000. During the first full year of its useful life, the company drove the truck 50,000 miles, Its depreciation expense for the year using the units of production method is: A machine is purchased on January 1,2021 , for $60,000. It is expected to have a useful life of four years and a reaidual value of S4,000. The company closes its books on December 31. Under the double-declining balance method, what is the total amount of depreciation to be expensed during 2022?. A trucking company sold its fleet of trucks for $75,000. The trucks originally cost $1.410.000 and had Accumulated Depreciation of $1,269,000 recorded through the date of disposal. What gain of loss did the trucking company record when it sold the fleet of trucks? What is amontization? What is the difference between ordinary and extraordinary expenses? A compunty reported oxt crodit saks of 5200.000 for thec current yeat. The unadiusied crecit balmet in its Aliceance for