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Please help with these accounting questions with correct options. Use the following in e the following information for the next two questions. At 12/31238 7he
Please help with these accounting questions with correct options.
Use the following in e the following information for the next two questions. At 12/31238 7he falowing inforn appraised value at 12/31/x8: S750,000 Estimated salvage value at the end of 40 year est life: $250,000 Accumulated depreciation at 12/31/X8:$100,000 chased 10 years previous is available: Original cost upon acquisition: 650n 11. Using the information above, calculate the building's book value at 12/31/X8. A. $400,000 B. $550,000 C. $650,000 D. $750,000 E. none of these 12. Using the information above and if the building is sold on 12/31/X8 at a price of s7250,t accompanying journal entry to record the sale will include a debit to A. Accumulated Depreciation for $100,000. B. Gain on Sale for $75,000. C. Building for $650,000 D. Gain on Sale of building for $175,000. E. none of these 13. Portland Company sold equipment with a book value of $600 for $850 cash. Total depreciation expense for the entire company for the year was $500. The beginning and ending balances in the Accumulated Depreciation account are $1,000 and $700, respectively. The ginning and ending balances in the Equipment account are $3,500 and 3,700 respectively. he journal entry to record the sale of the equipment for $850 cash, w which ONE of the e year In t lowing items would appear? Note: No other equipment was sold during the A. Credit to Equipment for $1,400 B. Debit to Accumulated Depreciation for $500 C. Debit to Accumulated Depreciation for $300 Debit to Loss on Sale of Equipment for $250 E.. . Debit to Equipment for $200 You owe $200.000 on a mortgage loan. You wish to repay the loan W $0.000 oy with 10 equal payments annual payments e at the end of each year for the next 10 years, and a separate on end of 11 years. interest rate is 8% at i the appropriate amount of each of the 10 e of the The nents for the first ten years plus the present value o payl the $200,000 amount of the mortgage loan. must A. $37,413 B. S28,327 C. S24693 D. $16,751 E. $19,222 ate amount of each of the 10 equ compounded annually. Hint: The presean. ofthe a value of the s80,000 att e 80,000 at the end of the II yearStep by Step Solution
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