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  3. 1.) on january 1, 2018, jordan, inc. acquired a ma

1.) On January 1, 2018, Jordan, Inc. acquired a machine for $ 1,080,000. The estimated...

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Accounting

1.) On January 1, 2018, Jordan, Inc. acquired a machine for $ 1,080,000. The estimated useful life of the asset is five years. Residual value at the end of five years is estimated to be $ 55, 000. Calculate the depreciation expense per year using the straight-line method.

2.)

Land Corporation reported the following:

Common Stock, $5.00 par,209,000 shares authorized,179,000 shares issued

$895,000
Paid in Capital in Excess of ParCommon

203,000

Retained Earnings

232,000

Total Stockholders' Equity

$1,330,000

Which of the following is included in the entry to record the corporation's purchase of 40,000 shares of its common stock for $14.50 per share?

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