On 7/1/21 a copier is purchased with a capitalized cost of $5500, has an estimated life of 10 years and salvage value of $500. What is the depreciation Je made on 12/31/21 under straight-line depreciation? d. debit depreciation expense $550 and credit accumulated depreciation $550 b. debit depreciation expense $275 and credit accumulated depreciation $275 e. debit depreciation expense $540 and credit accumulated depreciation $540 c. debit depreciation expense $500 and credit accumulated depreciation $500 a. debit depreciation expense $250 and credit accumulated depreciation $250 To record cost allocation over time of a natural resource, we credit Accumulated depreciation The asset itself Accumulated depletion natural resource acquisition are expensed, not capitalized Accumulated amortization After updating depreciation on 12/31/22, a company exchanges an old computer (capitalized cost $5500, accumulated depreciation $500 and fair market value $4750) plus $100 cash for a new computer. What is the JE? b. debit new equipment $4750, Acc Dep $550 and loss on disposal $300; credit old equipment $5500 and cash $100 e debit new equipment $4850, Acc Dep $1080; credit old equipment $5000, gain on disposal $830 and cash $100 c. debit new equipment $4750, Acc Dep $1000, credit old equipment $5000, gain on disposal $650 and cash $100 a debit new equipment $4850, Acc Dep $500 and loss on disposal $250;credit old equipment $5500 and cash $100 d. debit new equipment $4850, Acc Dep $1100; credit old equipment $5500, gain on disposal $350 and cash $100 A company has a $4400 asset with a $400 salvage value and 4 year estimated useful life. After recording depreciation expense (straight line) at the end of each of the first two years, the company revises estimated useful life to 6 years (four more years going forward). What is revised annual depreciation going forward? $250 $550 $500 $556 $600 On January 1, 2017 Sonoran Sound Systems issues a 10 year $5,000,000 face value bond with a 7% coupon paid semiannually. The company issues it for $4,349,603 for an effective interest rate of 9% and uses the effective-interest amortization method. After making JE on July 1, 2017 to record interest expense and discount amortization, what is the carry value of the Bond? $4,349,603 $5,000,000 $4,370,335 $5,020,732 $4,979,268