Question
6 On July 1, 2017, Hale Kennels sells equipment for $330,000. The equipment originally cost $900,000, had an estimated 5-year life and an expected residual
6 On July 1, 2017, Hale Kennels sells equipment for $330,000. The equipment originally cost $900,000, had an estimated 5-year life and an expected residual value of $150,000. The accumulated depreciation account had a balance of $525,000 on January 1, 2017, using the straight-line method. The gain or loss on disposal is $30,000 loss. $45,000 loss. $30,000 gain. O $45,000 gain. Question 9 Bryce Company has $3,000,000 of bonds outstanding. The unamortized premium is $43,200. If the company redeemed the bonds at 101, what would be the gain or loss on the redemption? $13,200 gain $30,000 loss $13,200 loss $30,000 gain loss on bond redemption of 1,100,000. gain on bond redemption of 7,100,000. loss on bond redemption of 6,000,000. gain on bond redemption of 4,900,000. Question 10 Chang Company retired bonds with a face amount of 300,000,000 at 98 when the carrying value of the bond was 298,900,000. The entry to record the retirement would include a
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