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Exercise 10-13 Romine Company issued $520,700of9%,10-year bonds on January 1, 2014, at face value. Interest is payable annually on January 1.

Prepare the journal entries to record the issuance of the bonds.(Credit account titles are automatically indented when amount is entered. Do not indent manually.)

Date	Account Titles and Explanation	Debit	Credit
Jan. 1, 2014

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Prepare the journal entries to record the accrual of interest on December 31, 2014.(Credit account titles are automatically indented when amount is entered. Do not indent manually.)

Date	Account Titles and Explanation	Debit	Credit
Dec. 31, 2014

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Prepare the journal entries to record the payment of interest on January 1, 2015.(Credit account titles are automatically indented when amount is entered. Do not indent manually.)

Date	Account Titles and Explanation	Debit	Credit
Jan. 1, 2015

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LINK TO TEXT

Prepare the journal entries to record the redemption of the bonds at maturity, assuming interest for the last interest period has been paid and recorded.(Credit account titles are automatically indented when amount is entered. Do not indent manually.)

Date	Account Titles and Explanation	Debit	Credit
Jan. 1, 2024

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LINK TO TEXT

3/22/2016 Problem 9-7A Problem 9-7A In recent years, Farr Company has purchased three machines. Because of frequent employee turnover in the accounting department, a different accountant was in charge of selecting the depreciation method for each machine, and various methods have been used. Information concerning the machines is summarized in the table below. Salvage Value Cost Useful Life (in years) Machine Acquired 1 Jan. 1, 2012 $134,000 $27,000 2 3 July 1, 2013 Nov. 1, 2013 86,000 105,790 10,600 6,790 Depreciation Method 10 Straight-line 5 7 Declining-balance Units-of-activity For the declining-balance method, Farr Company uses the double-declining rate. For the units-of-activity method, total machine hours are expected to be 33,000. Actual hours of use in the first 3 years were: 2013, 720; 2014, 5,110; and 2015, 6,590. Compute the amount of accumulated depreciation on each machine at December 31, 2015. MACHINE 1 Accumulated Depreciation at December 31 LINK TO TEXT $ MACHINE 2 $ MACHINE 3 $ LINK TO TEXT If machine 2 was purchased on April 1 instead of July 1, what would be the depreciation expense for this machine in 2013? In 2014? 2013 Depreciation Expense $ 2014 $ LINK TO TEXT Question Attempts: 0 of 3 used SA VE FOR LA TER SUBMIT A NSWER C opyright 2000-2016 by John Wiley & Sons, Inc. or related companies. All rights reserved. http://edugen.wiley.com/edugen/student/main.uni 1/2 3/22/2016 http://edugen.wiley.com/edugen/student/main.uni Problem 9-7A 2/2