and 'Depreciation Expense of the following amounts? Select one a. Debit. Interest Expense - $200,000; Debit. Depreciation Expense - $1,700,000 b. Debit. Interest Expense - $200,000; Debit. Depreciation Expense - $675,000 c. Debit. Interest Expense - $150,000; Debit. Depreciation Expense - $1,700,000 d. Debit. Interest Expense - $150,000; Debit. Depreciation Expense - $675,000 Gestion 6 -t yet wered ked out of ng on The accounting cycle for Paris Project Limited is from January 1 to December 31. At the start of July, the company signed an agreement to purchase a new warehouse for $45,000,000. The company paid 50% in cash and the remainder by taking out a 5-year loan. Annual interest expense on the loan is $4,500,000. Interest will be paid in cash on June 30 each year of the loan period. Annual depreciation on the new warehouse is $4,800,000. At the end of the accounting cycle the CFO of Paris Project Limited estimated that the new warehouse would have increased electricity and water usage from last year by 20%. Utility expenses (that comprised electricity and water) totaled $6,000,000 for the last full year. Required: At the end of the accounting cycle Paris Project Limited would have made adjustment entries to 'Interest Payable 'Depreciation Expense and 'Utility Expenses' of the following amounts? Select one: a. Debit. Depreciation Expense - $2,400,000; Credit. Interest Payable - $2,250,000; Debit. Utility pense - $7,200,000 b. Credit. Depreciation Expense - $4,500,000; Debit. Interest Payable - $4,800,000; Credit. Utility Expense - $7,200,000 c. Credit. Depreciation Expense - $2,400,000; Debit. Interest Payable - $2,250 200; Credit. Utility Expense - $7,200,000 d. Debit. Depreciation Expense - $4,500,000; Credit. Interest Payable - $4,800,000; Debit. Utility Expense - $7,200,000 0 The accounting cycle for Project Paris Limited is from January 1 to December 31. On April 1 Project Paris Limited rented out its old warehouse to Lost and Lost Limited by signing a 12-month agreement worth MacBook Air 5. Debit. Interest Payable - 5200,000; Credit Unity Expense - 51,200,000 c. Credit. Interest Payable - $150,000; Debit. Utility Expense - $1,200,000 d. Credit. Interest Payable - $200,000; Debit. Utility Expense - $1,150,000 Question 5 Wot yet 7swered erked out of Flag tion The accounting cycle for Canada Mining Hills Limited is from January 1 to December 31 At the start of April, the company signed an agreement to purchase a new factory for $10,000,000. The company paid 50% in cash and the remainder by taking out a 10 year loan. Annual interest expense on the loan is $200,000. Interest will be paid in cash on March 31 each year of the loan period. On May 15 Canada Mining Hills Limited was paid $8,000,000 in advance by Backward Limited to construct a large oil platform Canada Mining Hills Limited was paid $6,000,000 in advance by Drilling Limited to construct a solar windmill. On October 1 Canada Mining Hills Limited purchased a new piece of equipment from Clarke Investment Limited. Canada Mining Hills Limited paid $12,000,000 in cash for the equipment. At the end of the accounting cycle the CFO of Canada Mining Hills Limited had completed 40% of the construction of the oil platform and 25% of the solar windmill. Annual depreciation on the new equipment is $1,200,000 and $500,000 for the new factory. Required: At the end of the accounting cycle Canada Mining Hills Limited would have made adjustment entries to 'interest Expense! and 'Depreciation Expense' of the following amounts? Select one: a. Debit. Interest Expense - $200,000; Debit. Depreciation Expense - $1,700,000 b. Debit. Interest Expense - $200,000; Debit. Depreciation Expense - $675,000 c. Debit. Interest Expense - $150,000; Debit. Depreciation Expense - $1,700,000 d. Debit. Interest Expense - $150,000; Debit. Depreciation Expense - $675,000 The accounting cycle for Paris Project Limited is from January 1 to December 31. At the start of July, the company signed an agreement to purchase a new warehouse for $45,000,000. The company paid 50% in cash MacBook Air Select one . Debit. Depreciation Expense - $2,400,000; Credit. Interest Payable - $2,250,000; Debit Utility Expense - 7,200,000 b. Credit. Depreciation Expense - $4,500,000; Debit. Interest Payable - $4,800,000; Credit Utility Expense - 57,200,000 c. Credit Depreciation Expense - $2,400,000; Debit. Interest Payable - $2,250,000; Credit Utility Expense - $7,200,000 d. Debit, Depreciation Expense - $4,500,000; Credit. Interest Payable - $4,800,000: Debit. Utility Expense - 37,200,000 Question 7 Not yet answered farked out of 00 Flag estion The accounting cycle for Project Paris Limited is from January 1 to December 31 On April 1 Project Paris Limited rented out its old warehouse to Lost and Lost Limited by signing a 12-month agreement worth $4,800,000. The rentee paid the rentor for 12-months agreement in cash. At the start of September, the company signed an agreement to purchase a new warehouse for $20,000,000. The company paid 50% in cash and the remainder by taking out a 5-year loan. Annual interest expense on the loan is $3,000,000. Interest will be paid in cash on August 30 each year of the loan period. Annual depreciation on the new warehouse is $2,400,000. At the end of the accounting cycle the CFO of Project Paris Limited estimated that the new warehouse would have increased electricity and water usage from last year by 20%. Utility expenses (that comprised electricity and water) totaled $2,000,000 for the last full year. Required: At the end of the accounting cycle Project Paris Limited would have made adjustment entries to 'Rental Expense, 'Depreciation Expense' and 'Interest Expense of the following amounts? Select one: a. Debit. Rental Expense - $3,600,000; Debit. Depreciation Expense - $800,000; Credit. Interest Expense - $1,000,000 O b. Debit. Rental Expense - $4,800,000; Debit. Depreciation Expense - $2,400,000; Credit. Interest Expense - $3,000,000 0 c. Debit. Rental Expense - $0; Debit. Depreciation Expense - $800,000; Credit. Interest Expense - $1,000,000 d. Debit. Rental Expense - $3,600,000; Debit. Depreciation Expense - $2,400,000; Credit. Interest Expense - $1,000,000 Bobby Bones has just joined Bad Manufacturing Limited. His first task is to prepare the financial statements of the company for the end of the accounting cycle. MacBook Air