Question
Can you please answer these? On June 8, Alton Co. issued an $79,829, 6%, 120-day note payable to Seller Co. Assuming a 360-day year for
Can you please answer these?
On June 8, Alton Co. issued an $79,829, 6%, 120-day note payable to Seller Co. Assuming a 360-day year for your calculations, what is the maturity value of the note? When required, round your answer to the nearest dollar. Select the correct answer. $84,619 $81,426 $79,829 $4,790
Equipment with a cost of $76,522.00, an estimated residual value of $5,149.00, and an estimated life of 14 years was depreciated by the straight-line method for 6 years. Due to obsolescence, it was determined that the remaining useful life should be shortened by 4 years and the residual value changed to zero. The depreciation expense for the current and future years is Select the correct answer. $3,280.97 $4,593.36 $30,588.43 $11,483.39
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