I have 4 problems for Acc291, "University of Phoenix", I have some numbers and problems I am not able to figure out. Anyone can help me solve them?

Files attached. If you can show me the math in excel too. :o )

Problem 9-7A In recent years, Farr Company has purchased three machines. Because of frequent employee turnover in the accounting department, a different accountant was in charge of selecting the depreciation method for each machine, and various methods have been used. Information concerning the machines is summarized in the table below. Machine 1 2 3 Acquired Jan. 1, 2012 July 1, 2013 Nov. 1, 2013 Cost $133,000 86,000 96,300 Salvage Value $37,600 10,300 7,200 Useful Life (in years) 9 5 7 Depreciation Method Straight-line Declining-balance Units-of-activity For the declining-balance method, Farr Company uses the double-declining rate. For the units-ofactivity method, total machine hours are expected to be 33,000. Actual hours of use in the first 3 years were: 2013, 730; 2014, 4,250; and 2015, 5,750. Compute the amount of accumulated depreciation on each machine at December 31, 2015. MACHINE 1 MACHINE 2 $ MACHINE 3 $ $ Accumulated Depreciation at December 31 LINK TO TEXT LINK TO TEXT If machine 2 was purchased on April 1 instead of July 1, what would be the depreciation expense for this machine in 2013? In 2014? 2013 2014 $ $ Depreciation Expense LINK TO TEXT Question Attempts: 0 of 3 used Exercise 10-24 Nance Co. receives $328,900 when it issues a $328,900, 7%, mortgage note payable to finance the construction of a building at December 31, 2014. The terms provide for semiannual installment payments of $17,883 on June 30 and December 31. Prepare the schedule using effective-interest method to amortize bond premium or discount of Nance Co. (Round answers to 0 decimal places, e.g. 125.) Semiannua l Interest Period Cash Payment Interest Expense $ Reduction of Principal $ Principal Balance $ $ Issue date 6/30/15 12/31/15 328,900 17,883 9867 304757 8016 17,883 SHOW LIST OF ACCOUNTS LINK TO TEXT Prepare the journal entries to record the mortgage loan. (Round answers to 0 decimal places, e.g. 125. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Account Titles and Explanation Date Account Titles and SHOW LIST OF ACCOUNTS Explanation Cash Dec. 31, 2014 Date Debit Credit Debit Credit 328,900 First Installment Payment LINK TO TEXT June 30, 2015 Mortgage Payable 328,900 Prepare the journal entries to record the first two installment payments. (Round answers to 0 decimal places, e.g. 125. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Second Installment Payment Dec. 31, 2015 SHOW LIST OF ACCOUNTS LINK TO TEXT Problem 10-13A Grace Herron has just approached a venture capitalist for financing for her new business venture, the development of a local ski hill. On July 1, 2013, Grace was loaned $259,000 at an annual interest rate of 8%. The loan is repayable over 5 years in annual installments of $64,868, principal and interest, due each June 30. The first payment is due June 30, 2014. Grace uses the effectiveinterest method for amortizing debt. Her ski hill company's year-end will be June 30. Prepare an amortization schedule for the 5 years, 2013-2018. (Round answers to 0 decimal places, e.g. 125.) Cash Payment Period Interest Expense $ Principal Reduction $ Balance $ $ July 1, 2013 259,000 June 30, 2014 June 30, 2015 June 30, 2016 June 30, 2017 June 30, 2018 64,868 64,868 64,868 64,868 * 64,868 * Amount may be off due to rounding. SHOW LIST OF ACCOUNTS LINK TO TEXT Prepare all journal entries for Grace Herron for the first 2 fiscal years ended June 30, 2014, and June 30, 2015. (Round answers to 0 decimal places, e.g. 125. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date July 1/13 Account Titles and Explanation Debit Credit June 30/14 June 30/15 SHOW LIST OF ACCOUNTS LINK TO TEXT Show the balance sheet presentation of the note payable as of June 30, 2015. (Hint: Be sure to distinguish between the current and long-term portions of the note.) (Round answers to 0 decimal places, e.g. 125.) GRACE HERRON Balance Sheet (Partial) June 30, 2015 $ $ SHOW LIST OF ACCOUNTS LINK TO TEXT LINK TO TEXT Question Attempts: 0 of 3 used SAVE FOR LATER Copyright 2000-2016 by John Wiley & Sons, Inc. or related companies. All rights reserved. SUBMIT ANSWER Problem 10-9A Wempe Co. sold $3,339,000, 9%, 10-year bonds on January 1, 2014. The bonds were dated January 1, 2014, and pay interest on January 1. The company uses straight-line amortization on bond premiums and discounts. Financial statements are prepared annually. Prepare the journal entries to record the issuance of the bonds assuming they sold at: (1) 101 and (2) 95. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) No Account Titles and Date . Explanation Debit Credit LIST OF ACCOUNTS 1.SHOW 1/1/14 LINK TO TEXT Prepare amortization tables for issuance of the bonds sold at 101 for the first three interest payments. Annual 2. 1/1/14 Interest Periods Interest to Be Paid Issue date Interest Expense to Be Recorded $ Premium Amortization $ $ Unamortized Premium Bond Carrying Value $ $ 1 2 3 Prepare amortization tables for issuance of the bonds sold at 95 for the first three interest payments. Annual Interest Periods Interest Expense to Be Recorded Interest to Be Paid $ Issue date 1 2 Premium Amortization $ $ Unamortized Premium $ Bond Carrying Value $ 3 SHOW LIST OF ACCOUNTS LINK TO TEXT Prepare the journal entries to record interest expense for 2014 under both of the bond issuances assuming they sold at: (1) 101 and (2) 95. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) No . Date Account Titles and Explanation Debit Credit LIST OF ACCOUNTS 1.SHOW 12/31/14 Show the long-term liabilities balance sheet presentation for issuance of the bonds sold at 101 at December 31, 2014. WEMPE Co. Balance Sheet (Partial) December 31, 2014 2. 12/31/14 $ $ : Show the long-term liabilities balance sheet presentation for issuance of the bonds sold at 95 at December 31, 2014. WEMPE Co. Balance Sheet (Partial) December 31, 2014 $ $ : SHOW LIST OF ACCOUNTS LINK TO TEXT LINK TO TEXT Question Attempts: 0 of 3 used SAVE FOR LATER Problem 9-7A In recent years, Farr Company has purchased three machines. Because of frequent employee turnover in the accounting department, a different accountant was in charge of selecting the depreciation method for each machine, and various methods have been used. Information concerning the machines is summarized in the table below. Machine 1 2 3 Acquired Jan. 1, 2012 July 1, 2013 Nov. 1, 2013 Salvage Value $37,600 10,300 7,200 Cost $133,000 86,000 96,300 Useful Life (in years) 9 5 7 Depreciation Method Straight-line Declining-balance Units-of-activity For the declining-balance method, Farr Company uses the double-declining rate. For the units-ofactivity method, total machine hours are expected to be 33,000. Actual hours of use in the first 3 years were: 2013, 730; 2014, 4,250; and 2015, 5,750. Compute the amount of accumulated depreciation on each machine at December 31, 2015. MACHINE 1 MACHINE 2 $ $ Accumulated Depreciation at December 31 42,400 56,244 MACHINE 3 $ 28,971 LINK TO TEXT LINK TO TEXT If machine 2 was purchased on April 1 instead of July 1, what would be the depreciation expense for this machine in 2013? In 2014? 2013 2014 $ Depreciation Expense 22,704 $ 22,280 LINK TO TEXT Question Attempts: 0 of 3 used Exercise 10-24 Nance Co. receives $328,900 when it issues a $328,900, 7%, mortgage note payable to finance the construction of a building at December 31, 2014. The terms provide for semiannual installment payments of $17,883 on June 30 and December 31. Prepare the schedule using effective-interest method to amortize bond premium or discount of Nance Co. (Round answers to 0 decimal places, e.g. 125.) Semiannua l Interest Period Cash Payment Interest Expense $ Reduction of Principal $ Principal Balance $ $ Issue date 328,900 6/30/15 12/31/15 17,883 11,512 6,371 322,529 17,883 11,289 6594 315,935 SHOW LIST OF ACCOUNTS LINK TO TEXT Prepare the journal entries to record the mortgage loan. (Round answers to 0 decimal places, e.g. 125. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Date Account Titles and SHOW LIST OF ACCOUNTS Cash Dec. 31, 2014 Explanation Credit Debit Credit 328,900 First Installment Payment LINK TO TEXT June 30, 2015 Debit Mortgage Paya Mortgage Paya 328,900 6,371 Prepare the journal entries to record the first two installment payments. (Round answers to 0 PayabCredit account titles are automatically indented when decimal places, Interest e.g. 125. 11,512 amount is entered. Do not indent manually.) Cash 17,883 Second Installment Payment SHOW LIST OF ACCOUNTS Dec. 31, 2015 Mortgage Payable Interest Payable Cash 6594 11,289 17,883 LINK TO TEXT \fProblem 10-13A Grace Herron has just approached a venture capitalist for financing for her new business venture, the development of a local ski hill. On July 1, 2013, Grace was loaned $259,000 at an annual interest rate of 8%. The loan is repayable over 5 years in annual installments of $64,868, principal and interest, due each June 30. The first payment is due June 30, 2014. Grace uses the effectiveinterest method for amortizing debt. Her ski hill company's year-end will be June 30. Prepare an amortization schedule for the 5 years, 2013-2018. (Round answers to 0 decimal places, e.g. 125.) Cash Payment Period Interest Expense $ $ Principal Reduction $ Balance $ July 1, 2013 259,000 June 30, 2014 June 30, 2015 June 30, 2016 June 30, 2017 June 30, 2018 64,868 20720 44148 214,852 64,868 17,188 47680 167,172 64,868 11,702 53,166 114,006 64,868 9120 55748 58,258 64,868 4661 60,207 -1949 * * Amount may be off due to rounding. SHOW LIST OF ACCOUNTS LINK TO TEXT Prepare all journal entries for Grace Herron for the first 2 fiscal years ended June 30, 2014, and June 30, 2015. (Round answers to 0 decimal places, e.g. 125. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date July 1/13 Account Titles and Explanation Cash Notes Payable Debit Credit 259,000 259,000 Notes Payable June 30/14 Interest Payab 44148 20720 Cash 64,868 Notes Payable June 30/15 Interest Payable 47680 17,188 Cash 64,868 SHOW LIST OF ACCOUNTS LINK TO TEXT Show the balance sheet presentation of the note payable as of June 30, 2015. (Hint: Be sure to distinguish between the current and long-term portions of the note.) (Round answers to 0 decimal places, e.g. 125.) GRACE HERRON Balance Sheet (Partial) June 30, 2015 Long-term Liabilities $ Notes Payable 167,172 Current Liabilities $ Interest Payable 17,188 SHOW LIST OF ACCOUNTS LINK TO TEXT LINK TO TEXT Question Attempts: 0 of 3 used SAVE FOR LATER Copyright 2000-2016 by John Wiley & Sons, Inc. or related companies. All rights reserved. SUBMIT ANSWER Problem 10-9A Wempe Co. sold $3,339,000, 9%, 10-year bonds on January 1, 2014. The bonds were dated January 1, 2014, and pay interest on January 1. The company uses straight-line amortization on bond premiums and discounts. Financial statements are prepared annually. Prepare the journal entries to record the issuance of the bonds assuming they sold at: (1) 101 and (2) 95. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) No Account Titles and Date . Explanation Debit LIST OF ACCOUNTS Cash 1.SHOW 1/1/14 Credit 3372390 LINK TO TEXT Bonds Payable 3,339,000 Premiums on Bonds payable Prepare amortization tables for issuance of the bonds sold at 101 for the first three interest 33,390 payments. 2.Annual 1/1/14 Interest Periods Issue date Interest to Cash Be Paid Interest Expense Premium to Be Recorded 3,172,050 Amortizatio n $ $ $ Discount on bonds payable 1 Bonds Payable 166,950 Unamortize Bond d Carrying Value Premium $ $ 33,390 3,339,000 297,271 3,339 30,051 3,339,000 3,038,490 297,271 3,339 26,712 2,737,980 297,271 3,339 23,373 2,437,470 300,510 2 3 300,510 300,510 Prepare amortization tables for issuance of the bonds sold at 95 for the first three interest payments. Annual Interest Periods Interest to Be Paid Interest Expense to Be Recorded $ $ Issue date 1 2 3 300,510 300,510 Premium Amortizatio n Unamortize d Premium $ Bond Carrying Value $ $ 166,950 3,172,050 317,205 16,695 150,255 2,871,540 317,205 16,695 133,560 2,571,030 317,205 16,695 116,865 2,270,520 300,510 SHOW LIST OF ACCOUNTS LINK TO TEXT Prepare the journal entries to record interest expense for 2014 under both of the bond issuances assuming they sold at: (1) 101 and (2) 95. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) No . Date Account Titles and Explanation LIST OF ACCOUNTS Interest expense 1.SHOW 12/31/14 Debit Credit 297,271 Premiums on bonds payable Show the long-term liabilities balance sheet presentation for issuance of the bonds sold at 101 at 3,339 December 31, 2014. Interest payable 2. 12/31/14 Interest expense WEMPE Co. Balance Sheet (Partial) December 31, 2014 300,510 317,205 Long-term Liabilities Discount on bonds payable Bonds payable $ 16,695 3,339,000 300,510 Interest payable $ Add 30,051 : 3,369,051 Premium on bonds payable Show the long-term liabilities balance sheet presentation for issuance of the bonds sold at 95 at December 31, 2014. WEMPE Co. Balance Sheet (Partial) December 31, 2014 Long-term Liabilities $ Bonds payable 3,339,000 $ Less : Discount on bonds payable 155,255 3,183,745 SHOW LIST OF ACCOUNTS LINK TO TEXT LINK TO TEXT Question Attempts: 0 of 3 used SAVE FOR LATER Problem 10-13A Grace Herron has just approached a venture capitalist for financing for her new business venture, the development of a local ski hill. On July 1, 2013, Grace was loaned $259,000 at an annual interest rate of 8%. The loan is repayable over 5 years in annual installments of $64,868, principal and interest, due each June 30. The first payment is due June 30, 2014. Grace uses the effectiveinterest method for amortizing debt. Her ski hill company's year-end will be June 30. Prepare an amortization schedule for the 5 years, 2013-2018. (Round answers to 0 decimal places, e.g. 125.) Cash Payment Period Interest Expense $ $ Principal Reduction $ Balance $ July 1, 2013 259,000 June 30, 2014 June 30, 2015 June 30, 2016 June 30, 2017 June 30, 2018 64,868 20720 44148 214,852 64,868 17,188 47680 167,172 64,868 13,374 51,494 115,678 64,868 9254 55614 60,064 64,868 4,805 60,063 1 * * Amount may be off due to rounding. SHOW LIST OF ACCOUNTS LINK TO TEXT Prepare all journal entries for Grace Herron for the first 2 fiscal years ended June 30, 2014, and June 30, 2015. (Round answers to 0 decimal places, e.g. 125. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date July 1/13 Account Titles and Explanation Cash Notes Payable Debit Credit 259,000 259,000 Notes Payable June 30/14 Interest expense 44148 20720 Cash 64,868 Notes Payable June 30/15 Interest expense 47680 17,188 Cash 64,868 SHOW LIST OF ACCOUNTS LINK TO TEXT Show the balance sheet presentation of the note payable as of June 30, 2015. (Hint: Be sure to distinguish between the current and long-term portions of the note.) (Round answers to 0 decimal places, e.g. 125.) GRACE HERRON Balance Sheet (Partial) June 30, 2015 Current Liabilities $ Notes Payable 47680 Long-term Liabilities $ Notes Payable 167,172 SHOW LIST OF ACCOUNTS LINK TO TEXT LINK TO TEXT Question Attempts: 0 of 3 used SAVE FOR LATER Copyright 2000-2016 by John Wiley & Sons, Inc. or related companies. All rights reserved. SUBMIT ANSWER