2. If 16,000 units of product are produced in 2013 and 24,000 units are produced in 2014, what is the book value of the equipment at December 31, 2014? The company uses the units-of-activity depreciation metho(D) (5%)

1. Show computations to value the ending inventory using the FIFO cost assumption if 550 units remain on hand at October 31. (5%)

2. Show computations to value the ending inventory using the weighted-average cost method if 550 units remain on hand at October 31. (5%)

3. Show computations to value the ending inventory using the LIFO cost assumption if 550 units remain on hand at October 31. (5%)

1. Compute the amount of depreciation expense for the year ended December 31, 2013, using the straight-line method of depreciation. (5%)

3. If the company uses the double-declining-balance method of depreciation, what is the balance of the Accumulated Depreciation一Equipment account at December 31, 2015? (5%)

(a) Howell Corporation purchased $700,000 of its bonds on June 30, 2014, at 102 and immediately retired them. The carrying value of the bonds on the retirement date was $679,000. The bonds pay semiannual interest and the interest payment due on June 30, 2014, has been made and recorde(D) (5%)

(b) Justice, In(C) purchased $400,000 of its bonds at 97 on June 30, 2014, and immediately retired them. The carrying value of the bonds on the retirement date was $393,000. The bonds pay semiannual interest and the interest payment due on June 30, 2014, has been made and recorde(D) (5%)

Instructions For each of the independent situations, prepare the journal entry to record the retirement of the bonds. 六、On January 1, 2014, Dolan Corporation had 60,000 ordinary shares with a $1 par value issued and outstanding. During the year, the following transactions occurred: Mar. 1 Issued 20,000 ordinary shares for $400,000. June 1 Declared a cash dividend of $2 per share to shareholders of record on June 15. June 30 Paid the $2 cash dividen(D) De(C) 1 Purchased 4,000 ordinary shares for the treasury for $22 per shar(E) De(C) 15 Declared a cash dividend on outstanding shares of $2.25 per share to shareholders of record on December 31. Instructions Prepare journal entries to record the above transactions.(10%)

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