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3- -6 ACC 112& ACC 211 Final Review machine on January 1, 2017, at a cost of $150,000 The company estimated the machine will have a salvage value of $12,000, is expected to be used for 10,000 working hours during its 5-year-life. a new The machine I. Rottino Company a. Compute the depreciation expense under the following methods for the indicated i. Straight-line for 2017 ii. Units-of-activity for 2017, assuming machine usage was 1.700 h ili. Declining-balance for 2017 and 2018. 2 On May 10, Jack Corporation issues 2,000 shares of $10 par value com cash at $18 per share. On May 23, the company buys back 400 shares for $6,000. Prepare the journal entries for each transaction. 3. Langley Corporation has 50,000 shares of S10 par value common stock outstanding, it declares a 15% stock dividend on December 1 when the market price per share is $16 The dividend shares are issued on December 31. Prepare the entries for the declaratio and issuance of the stock dividend. Meera Corporation issued 4,000, 8%, 5-year, $1,000 bonds dated January 1, 2017, at 100. Interest is paid each January 1. Prepare the entries for: 4, Record the sale of these bonds on January 1, 2017 a. b. Record interest expense on December 31, 2017 c. Record interest paid on January 1, 2018 5. Hulse Company had the following transactions pertaining to stock investments. Prepare journal entries for each transaction. Feb. 1 July 1 Sept. 1 Purchased 600 shares of Wade common stock (2%) for $7,200 cash. Received cash dividends of $1 per share on Wade common stock. Sold 300 shares of Wade common stock for $4,300. Received cash dividends of S1 per share on Wade common stock. Dec. 1