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Answer the questions and I am not emailing you Required a. Prepare the entry to record the purchase of this equipment. b. Prepare the entry
Answer the questions and I am not emailing you
Required a. Prepare the entry to record the purchase of this equipment. b. Prepare the entry at the end of year one for (1) interest accrual, (2) cash payment, and (3) depreciation expense. c. Prepare the entry at the end of year two for (1) interest accrual, (2) cash payment, and (3) depreciation expense. d. Assume instead that Vale exchanged 280 shares of its own $1 par common stock along with $19,600 cash for the equipment. The stock was not actively traded, but the equipment was estimated to have a fair value at the date of acquisition of $44,800. Prepare the entry to record the purchase. Purchase of Equipment with Equity a. Prepare the entry to record the purchase of this equipment. b. Prepare the entry at the end of year one for (1) interest accrual, (2) cash payment, and (3) depreciation expense. c. Prepare the entry at the end of year two for (1) interest accrual, (2) cash payment, and (3) depreciation expense. Note: Round each of your answers to the nearest whole number. Note: Round each of your answers to the nearest whole numberStep by Step Solution
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