9,10,11,13,15,17,18 were all incorrect with my answer
cred 2780 for BDE 9. Go America Corp-paid $395,380 for real estate with land, land improvements, and a building. The land is appraised at $157,040; land improvements are appraised at diferente $58,890; and the building is appraised at $176,670. Prepare the journal entry to record the purchase. 10. Rivet, Inc. purchased a machine for $12,500. Terms of the purchase were 2/10, n/60, FOB shipping point. Rivet paid within the discount period and took the $250 discount. Transportation costs amounted to $360. The machine required mounting and power connections costing $895. Another $475 was paid to assemble the machine, and $40 of materials were paid to place the machine in operations. During installation, the machine was damaged and $180 worth of repairs were made. How much did Rivet record as the cost of the machine? 11. Bootheel Leather Co. installed a new computerized machine in its factory at the beginning of the year at a cost of $43,500. The machine's useful life is estimated to $3.125 be 10 years or 385,000 pairs of boots. Salvage value of the machine is estimated to be $5,000. During Bootheel's second year, the machine is used to produce 32,500 pairs of boots. What is Bootheel's Depreciation Expense for year 2? 12. On Apr. 1. Cyclone Co, purchases a trencher for $280,000. The machine is expected to last five years and have a salvage value of $40,000. Compute Depreciation Expense for the second year assuming Cyclone uses the straight-line method for depreciation. 13. Diaz Company owns a machine that cost $250,000 and had accumulated depreciation of $182.000. Prepare the journal entry if Diaz sells the machine for $80,000 cash. CV Debt 12.000 Hference cred 14. Snob Hill Galleries pays $418,000 to obtain the copyright for a painting on Jan. 1. 44 500 The copyright is legal for 10 years, after which it will expire, and anyone can make 47.5007 Amortization Expense on Dec. 317 15. Montana Mining Co. pays $3,721,000 for an ore deposit containing 1,525,000 tons. The company installs machinery in the mine costing $213,500. Both ore and machinery will have no salvage value after the ore is completely mined. Montana mines and sells 166,200 tons of ore during the year. How much will Montana record for Depletion Expense for the year? 16. Hammer and Tong Systems borrows $110,000 cash on May 15 by signing a 60-day, 12%, $110,000 note. Prepare the journal entry if the note is honored on the date of maturity 17. Flim Flam Amusements, Inc. has one employee. Her gross pay through Aug. 31 is $126,600. Her gross earnings for September are $8,000. FICA-Social Security taxes are 6.2% of the first $132,900, FICA-Medicare taxes are 1.45% of gross pay, FUTA taxes or 0.6%, and SUTA taxes are 5.4% or the first $7,000. How will be withheld from the employee's pay for these taxes? 32 34.3 1951.7 807.6 374 NP lioe
