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Can you please solve the last 5 questions (6,7,8,9,10), I will thump up 1 Company A purchases land on January 1, 2021 for $ 40,000
Can you please solve the last 5 questions (6,7,8,9,10), I will thump up
1 Company A purchases land on January 1, 2021 for $ 40,000 with a note payable. Other cost includes $ 2500 in delinquent property taxes, in transfer taxes and a $ 1500 survey fee. General Journal Page Date Account Titles and Explanation Debit Credit 2 The company depreciation for this year on equipment is $ 5000. General Journal Page Credit Date Account Titles and Explanation Debit 3 On April 1, Company A discards equipment with a cost of $ 15,000 and accumulated depreciation of $ 15,000. General Journal Page Date Account Titles and Explanation Debit Credit 4- Assume an oil well cost $ 500,000 an is estimated to hold 50,000 barrels of oil. There is no residual value. 2000 barrels are extracted during the year. General Journal Page Date Account Titles and Explanation Debit Credit 5- Company A has excess cash to invest and pays $ 80,000 to buy $ 80,000 face value, 5 %, five-year Company B bonds on February 10, 2021. Company A plans hold the bonds until maturity. General Journal Page Date Account Titles and Explanation Debit Credit Activate Win Go to Settings to Company A pays $100,000 to purchase 20 % of the common stock of Company B. General Journal Page Date Account Titles and Explanation Debit Credit 7- On payday, company A makes payment of $ 24,350 to its employees and record the following entry: General Journal Account Titles and Explanation Page Credit Date Debit 8. Company A has $ 100,000 of 5 5 bonds payable that mature in five years. The company issues these bonds at face value on March 1, 2020. General Journal Page Date Account Titles and Explanation Debit Credit 9. Company A pays first semiannual interest payment of $ 2500. General Journal Page Date Account Titles and Explanation Debit Credit 10. Company A has $ 100,000 of 5 % bonds that mature on December 31, 2020. (Note that all interest has already been paid and the discount is fully amortized. General Journal Page Date Account Titles and Explanation Debit Credit Ativ Go toStep by Step Solution
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