Milloy Self Storage purchased land, paying $170,000 cash as a down payment and signing a $165,000 note payable for the balance. Milloy also had to pay delinquent property tax of $4,500, title insurance costing S6,500, and $2,000 to level the land and remove an unwanted building. The company paid $52,000 to add soil for the foundation and then constructed an office building at a cost of $950,000. It also paid $45,000 for a fence around the property, $14,000 for the company sign near the property entrance, and $9,000 for lighting of the grounds. Read the requirement. The cost of the land is S Requirement 1. What is the capitalized cost of each of Milloy's land, land improvements, and building? Print Done Urban Pizza bought a used Ford delivery van on January 2, 2018, for $21,000. The van was expected to remain in service for four years (47,500 miles). At the end of its useful life, Urban management estimated that the van's residual value would be $2,000. The van traveled 15.000 miles the first year, 10,000 miles the second year, 12,500 miles the third year, and 10,000 miles in the fourth year Read the requirements. Requirement 1. Prepare a schedule of depreciation expense per year for the van under the three depreciation methods. (For units-of-production and double-declining-balance methods, round to the nearest two decimal places after each step of the calculation. For years with $0 depreciation, make sure to enter "O" in the appropriate column.) Year 2018 2019 2020 2021 Total Straight-Line Requirements 1. Prepare a schedule of depreciation expense per year for the van under the three depreciation methods. (For units-of-production and double-declining-balance methods, round to the nearest two decimal places after each step of the calculation.) 2. Which method best tracks the wear and tear on the van? 3. Which method woulkd Urban prefer to use for income tax purposes? Explain your reasoning in detail. Print Done East Sales Company completed the following note payable transactions: (Click the icon to view the transactions.) Read the recuirements. Requirement 1. How much interest expense must be accrued at December 31, 2018 (Round your answer to the nearest whole dollar.) The interest expense accrued at December 31, 2018 is $ Requirements How much interest expense must be accrued at December 31, 2018? (Round your answer to the nearest whole dollar.) 1. 2. Determine the amount of East Sales' final payment on October 1, 2019. 3. How much interest expense will East Sales report for 2018 and for 2019? (If needed round youranswer to the nearest whole dollar.) Print Done Robarge Electronics completed these selected transactions during March 2018 (Click the icon to view the transactions.) Requirement 1. Report these items on Robarge Electronics' balance sheet at March 31, 2018. Select the balance sheet accounts, then calculate each accounts' balance and the total current alies amount at March 31, 2018. (For the FICA tax, be sure to include both the employer and employee share of the tax. Round all amounts to the nearest whole dollar. If a box is not used in the table leave the box empty; do not select a label or enter a zero.) Robarge Electronics Balance Sheet (partial) March 31, 2018 Transactions Account Amount a. Sales of $2,300,000 are subject to an accrued warranty cost of 5%. The accrued warranty payable at the b. On March 1, Robarge Electronics signed a $65,000 note payable that requires annual payments of c. Jacob, Inc., a chain of discount stores, ordered $120,000 worth of wireless speakers and related products. Current liabilities: beginning of the year was $37,000, and warranty payments for the year totaled $63,000 $13,000 plus 4% interest on the unpaid balance beginning March 1, 2019. With its order, Jacob, Inc., sent a check for $120,000 in advance, and Robarge shipped $45,000 of the goods. Robarge will ship the remainder of the goods on April 3, 2018. d. Robarge's March payroll of $270,000 is subject to employee withheld income tax of $30,900 and FICA tax of 7.65%. On March 31, Robarge pays employees their take-home pay and accrues all tax amounts. Print Done Long-term liabilites: Choose from any list or enter any number in the input fields and then click Check Answer. E9-21A (similar to) Question Help Companles that operate in different industries may have very different financial ratio values. These differences may grow even wider when we compare companies located in different countries. Review the following financlal statements. EEl (Click the icon to view the financial statements.) Read the requirement. Data Table Begin by computing the ratios. Start by selecting the formula for the current ratio. Then calculate the current ratios Round the ratios to two decimal places.) Monka (Amounts in millions or blilions) Income data Total revenues Operating income Interest expense Net income Asset and lability data (Amounts in millions or billions) Total current assets Long-term assets Total current liabilities Long-term liabilities Common stockholders' equity Aktar Rabold Current ratio $9,728 292 43 27 7,304 224 32 136,403 5,603 687 443 Requirement 1. Compare three fictitlous companies (Aktar, Monka, and Rabold) by calculating the following ratios: current ratio, debt ratio, leverage ratio, and times-interest-eaned ratio. Use year-end figures in place of averages where needed for calculating the ratios in this exercise. Based on your computed ratio values, which 427 93 237 87 196 4,943 655 2,247 2.287 1.064 130,133 71,171 72,700 110,487 18,117 company looks the least risky? Print Done Print Done Choose from any drop-down list and then click Check Answer S n er Corp. purchased fi e S1.000 7% bonds of Sir plex Corporation when the market rate of n erest was 10% Interest is paid ser annually, and the bond mature in s years. Using the PV function in Excel , compute the price Shriver paid (the present value) for the bond investment. (Assume that all payments of interest and principal occur at the end of the period. Round your answer to the nearest cent.) Shriver paid the bond investment