ion 1-On January 1, 2017 Yellow Company purchased a bus, at a cost of $118,000. The useful life is expected to be 5-year and the salvage value is expected to be $12,000. The Bus is expected to be driven 100,000 KM in its useful life. If the bus actual driven KM in 2018, was 26,000 KM, prepare journal entries to record depreciation expenses for 2018. ------ 2- Sun Company purchased a mine for $70,000 that is estimated to have 3,500 tons of coal and no salvage value. In the first year, 500 tons of coal are extracted. prepare the journal entry to record depletion for the first year. 3- Dell Company purchases a patent for $14,000 on January 1, 2017. The estimated useful life is 8 years. Prepare the journal entry to record amortization expense for the second year. 4- HP Company has equipment that was purchased for historical cost) $5,200 and the salvage value is $800 and the accumulated depreciation today is $2,000 Prepare journal entries to record the following cases. HP sells equipment for S1800 cash. HP sells equipment for $3700 on credit. HP retires its equipment (It was dumped in the garbage) b- 1- Aramco Company has salaries and wages expenses for the month of April $55,000. Aramco Company deducted $3,100 income tax and $1,450 for health insurance and $2,505 for pension fund. Prepare the journal entry to record the salary and wages expenses assuming that company will pay the salary in 5 of each month. 2- Roger company sold inventory for $32,000 cash All sales are subject to a 16% sales tax. Record this transaction. 3- Michigan University sells 410 basketball tickets at $10 each, the game will be held next month, Give the entry to record (a) The sale of the season tickets. (b) The revenue recognized by playing the season basketball. On January 1, 2017 Mazen Company issued bond of $95,000 with 5% interest rate, for 10-year. Instructions Prepare the journal entries to record the following cases: 1- The issuance of the bonds at face value 2- The issuance of the bonds at 105% its face Value 3- The issuance of the bonds at 90 % of its face value 4- The accrual of interest on December 31 on any cases of the above. 2 B I!! III 31 US ** acer