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Company XYZ purchased equipment on October 28,2022 at a cost of $5.000. The equipment is expected to last 5 years and the the comparys year
Company XYZ purchased equipment on October 28,2022 at a cost of $5.000. The equipment is expected to last 5 years and the the comparys year end is Decerniber 31,2022 Answer the following questions: Remember to prorate to the nearest month! Fill in the blanks be sure to not include any commos or decimals uniess othenvise stoted. For example $1,000.00 should be expressed os 1000 . Only include decimols when told 1. How much depreciation expense should be included in the December 31,2022 Statement of Income? rounded to the nearest $1 2. How much depreciation expense should be included in the December 31,2022 statement of income if the equipment was purchased on June 28,2022 ? 5 rounded to the nearest 30.01 3. How much depreciation expense should be included in the December 31;2022 Statement of income if the equipment was purchased on fanuary 3.20227 . rounded to the nearest 50.01 SCL obtsined a loan from CIQC in the amount of $500,000 on luly 29,2023 . The loan agreement states that 12% interest will paid on each anniversary date. SCL has a year-end date of September 30,2023. Fill in the blanks be sure to not include any commar or decimals unies otherwise stated. For cuimple $1,000.00 should be expressed os 1000 . Only include decimals when told. 1. How many months of interest should be accrued on the Statement of income? months 2. How much interest thould be included in the 2023 vear-end statement of income? rounded to the neareit $1
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