Hi so I am attaching a document with multiple questions, and would like a step to step process on what you get. I am trying to learn! Thanks so much!

15.) On Jan 1 of Year 1, Cameron Company purchased a sophisticated piece of equipment costing $300,000. The equipment had a 30,000 salvage value and a 10 year estimated useful life. As on Jan 1 of Year 4, technology has changed and it is feared that the value has been impaired. On January 1 of Year 4 it is projected that the equipment has a remaining useful life of 4 years, a salvage of zero, and that it will generate cahs flows of 45,000 at the end of each year for the next 4 years. The market interest rate is 10%. How much depreciation expense will Cameron Company recognize on this piece of equipment during Year 4? Using straight line depreciation. A. 39,413 B. 42,784 C. 71,595 D. 35,661 E. 45,826 16.) On January 1 of Year 1, Harry Company purchased a piece of equipment for $200,000. The estimated life is 10 years. Harry estimates that the equipment can be sold for $60,000 at the end of its life. (Double declining balance depreciation). For year 2, Harry Company's net income is 100,000. What would have been Harry's Company's net income been in Year 2 assuming that Harry had initially decided not to use double declining balance depreciation, but had used straight line depreciation. (ignore income tax) A. B. C. D. E. 132,000 188,000 86,000 64,000 104,000 17.) Taraz Aina is obligated to make the following payments to a loan company Timing Payment Amount An annuity with the first payment right now 10 annual payments of 7,000 One lump sum at the end of 3 years 20,000 One lump sum at the end of 9 years 150,000 The annuity included a total of 10 annual payment with the first one to be made immediately. The interest rate on the loan is 12% compounded annually and there is no penalty for early payment. How much must Taraz Aina pay right now in order to completely satisfy her obligation to the loan? (the amount she must pay right now included the 7,000 annuity payment that is due right now. Round to the nearest dollar). A. B. C. D. E. 87,952 112,626 72,343 188,469 130,123 18.) On January 1 Year 1, Lily Company issued 10,000, 10%, 20-year bond. Interst paid annually each December 31, so the first coupon payment was made on December 31 of Year 1. On the day the bond was issued, the market interst rate on bonds with the same degree of riskiness was 12% compounded annually. Accordingly, the bond was issued at a discound of $1,494. This bond was retired on January 1 Year 3, just one day after the second coupon payment was made. The total amount paid to retire this bond was 9,700, Lily used the effective-interest method on its books. The entry to record the retirement of this bond would include a.... A. B. C. D. E. Debit to Loss on Bond Retirement of 1,450 Debit to Loss on Bond Retirement of 1,550 Debit to Discount of Bonds 1,550 Credit to Discount of Bonds 1,650 Credit to Discount of Bonds 1,250 19.) User Company leased a Computer equipment from Owner Company on January 1 Yeaer 1. The computer equipment has an expected useful life of five years. The terms of the lease require annual payments of 5,000 for five years with the first payments being made on the lease signing date (January 1 Year1)-then four subsequent lease payments are made on January 1 of each subsequent year compounded annually. User Company is accounting for this lease as a capital lease. (round to the nearest dollar.) In the journal entry made in connection with this lease on December 31 there is a... A. B. C. D. E. F. G. H. Debit to interest expense 2,585 Debit to interest expense 2,500 Credit to interest payable 2,085 Debit to Interest Expense 2,000 Debit to Interest Expense 1,895 Credit to Interest payable 1,585 Debit to Interest Payable 3,415 Nothing-no journal entry is needed 20.) Kamili Company started a business January 1 Year 1, Kamili reported net income of 100,000 and paid cash dividens of 35,000. The following occurred year 2: -purchased 10,000 shares of treasury stock for $20 per share -reissued 3,000 shares of the treasury stock for $25 -reissued 6,500 more shares of treasury stock for $8 per share. -Discovered an error in year 1 books. In year 1 Kamili Company overstated its depreciation expense by $7,500. Net income for Year 2 was $80,000. (Year 2 net income is correct). Cash dividens paid in year 2 were $45,000. The correct retained earnings for year 2 is..... A. B. C. D. E. 73,500 18,500 90,000 21,500 58,500 21.) Lorien Company issued bonds with a coupon rate of 0% and a face amount of 100,000. These are zero-coupon bonds. The bonds mature in 20 years. The market interst rate for bonds with the same degree of riskiness is 7% compounded annually. These bonds were issued January 1 Year 1. Lorien used the effective-interest method on its books. (round to the nearest dollar). In the journal entry made in connection with these bonds on Dec 31 of Year 1 there is a... A. B. C. D. E. F. G. H. Debit to interest expense 7,000 Debit to Discount of Bonds 1,809 Credit to Discount of Bonds 1,809 Credit to Interest Payable 3,708 Debit to Interest Expense 5,191 Credit to Discount on Bonds 2,584 Credit to Interest Payable 1,809 Nothing- no journal entry needed 22.) On January 1 year 1 Taraz Company purchased 4,000 shares of the common stock of Company A for 240,000. At the time, Company A had a total of 10,000 common shares outstanding. Accordingly Taraz purchased 40% of the outstanding shares of Company a. During Year 1 Company A paid cash dividends totaling 20,000. Company A also reported net income of 50,000 during year 1. During Year 2 Company A paid no cash dividends. Company A reported a net loss of 40,000 during Year 2. On December 31, Year 1, the market value of Company A's common stock was 72 per share. On Taraz Company's books what amount should be reported as \"Investment in Company A\" as December 31 of Year 2? A. B. C. D. E. 243,000 236,000 260,000 257,000 272,000 23.) On January 16 Year 1, Wishbone Corporation purchased 2,000 shares of Clarke Corpp common stock as available for sale. On March 23 of Year 1, Wishbone sold 500 shares of Clarke common stock for 78 per share. On December 21 of Year 1 each of the remaining 1500 shares of Clarke's common stock had a market value of 65 per share. For Year 1, Wishbone Corporation net income of 200,000. What would Wishbone's Year 1 ntet icome have been if the investment in Clarke Company stock had originally been classified as trading. (Before year 1, Wishbone Corporation has never had incestment in either trading or available for sale secruities and ignore income taxes) A. B. C. D. E. 244,5000 183,500 243,500 228,500 22,500 25.) At the beginning of Year 1, Jimbo Company purchased a portfolio of trading secruities for $33. At the end of year 1, the portfolio had a value of $28. At the end of Year 2 the portfolio had a value of 37. During Year 3 the entire portfolio is sold for 25. What is the amount of unrealized gain or loss for year 3? A. B. C. D. E. F. G. H. 4 unrealized gain 8 unrealized loss 5 unrealized gain 4 unrealized loss 12 unrealized gain 12 unrealized loss 5 unrealized loss No gain or loss