On September 1. Emil Rovey purchased a vehicle for $28.000 with a residual value of...
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On September 1. Emil Rovey purchased a vehicle for $28.000 with a residual value of $2,000. The estimated useful life is 10 years and the company uses the straight-line method. What is the depreciation expense for the year ended December 31? (Round your answer to the nearest whole dollar amount.) Multiple Choice $867 $933 $2,600 $650 search O G Help Save & Exit Submit Durango. Inc. purchased a parcel of land for $450,000. It paid attorney fees of $3,000 to verify title to the land. In addition, it paid a broker's fee of $7,500 to help find a suitable parcel of land. This parcel of land should be recorded in the accounting records for Multiple Choice $450,000 $453,000 $457,500 $460,500 search O IT PE G Help Save & Exit Sul On January 1, Melrose Manufacturing issues a 5-year bond with a face value of $10,000 and a stated interest rate of 8% The market interest rate is 6%. The issue price of the bond was $11,036. Using the effective interest method of amortization, the interest expense for the first year ended December 31 would be: Multiple Choice $662 16. $600.00 $800.00 $88288
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