On January 2, 2019, Komis Corporation acquired equipment for $800,000. The estimated ife of the equipment is 5 years or 70,000 hours. The estimated residual value is $20,000. What is the balance in Accumulated Depreciation on December 31, 2019, if Kornis Corporalon uses the double-declining-balance method of depreciation? A $158,000 OB. $312,000 OC $160,000 O D. $320,000 Wisconsin Bank londs Local Fu ituro Company $160,000 on November 1 by Local Furniture Company on December 31 is: Local Furniture Company signs a $160 000 6%, 4-mon noto. The fiscal year end of Local Fum itu o Company is December 31 Tho our al entry made O A. debit Interest Expense and credit Interest Payable for $1,600 O B. debit Interest Expense and credit Cash for $1,600 O C. debit Interest Payable and credit Interest Expense for $1,600 D. debit Interest Payable and credit Cash for $1,600 linois Bank lends Lisle Fumiture Company $130,000 on December 1. Lisle Furniture Company signs a $130,000, 6%,4-month note. The total cash paid at maturity of the note is: (Round your final answer to the nearest dollar.) OA. $132,600 OB. $133,900 O c. $130,000. OD. $137,800. Kathy's Corner Store has total cash sales for the month of $33,000 excluding sales taxes. If the sales tax rate is 6%, which journal entry is needed? (Ignore Cost of Goods Sold.) O A. O B. O C. O D. debit Cash $34,980, credit Sales Revenue $34,980 debit Cash $33,000 and credit Sales Revenue $33,000 debit Cash $31,020, debit Sales Tax Receivable for $1,980 and credit Sales Revenue for $33,000 debit Cash $34,980, credit Sales Revenue $33,000 and credit Sales Tax Payable $1,980 Montana Company sold merchandise with a retail price of $31.000 for cash Montana Company is required to collect 4% state sales tax. The total cash received from customers was: O A. $31,000. O B. $29,760. O C. $32,240 D. $1,240. On January 1 2018. bonds with 8 face value of S 120.000 were sold The bonds mature on January 1 2028. The fece interest rate is 6%. The bonds pay interest sem annuely on July 1 and January 1 The market rate of interest is 8% W hat s the market price of the bonds on January 1, 2018? The prese t value of S1 for 20 penod a14% is 0 456 The present value of an o ary annuity of $1 for 20 penods at 4% is 13.59. The present value of S 1 for 20 periods at 3% is 0.554. The present value of an ordinary annuity of $1 for 20 periods at 3% is 14.878. (Round your final answer to the nearest dollar.) O A $120,041 OB. $103,644 OC. $123,600 O D. $120,000