journal entries

payable Mar 1, 2021 purchased 500 shares in the open market for $26 each August 1, 2021 - Sold equipment that XYZ no longer needed for $400 in cash The equipment had originally been purchased for 5000 at the beginning of 2013 and fully depreciated last year November 30 Discovered an asset retirement obligation on one piece of a building that will cost $50,000 in 20 years December 30, 2021 use of patent changed sufficiently to test for impairment - future cash flows equal to $6,500/yr for 4 years Dec 30, 2021 paid dividends equal to $.60 per share. Record accrued interest and depreciation on 2020 asset Other Information Tax rate is 21% Incremental borrowing rate 7% No half year convention payable Mar 1, 2021 purchased 500 shares in the open market for $26 each August 1, 2021 - Sold equipment that XYZ no longer needed for $400 in cash The equipment had originally been purchased for 5000 at the beginning of 2013 and fully depreciated last year November 30 Discovered an asset retirement obligation on one piece of a building that will cost $50,000 in 20 years December 30, 2021 use of patent changed sufficiently to test for impairment - future cash flows equal to $6,500/yr for 4 years Dec 30, 2021 paid dividends equal to $.60 per share. Record accrued interest and depreciation on 2020 asset Other Information Tax rate is 21% Incremental borrowing rate 7% No half year convention