Burke Corporation sold 13,000 shares of its $10 par value common stock at a cash price of $15 per share. The entry to record this transaction would include:

On September 15, Oakton Company sold merchandise in the amount of $7,800 to Dempster Company, with credit terms of 2/10, n/30. The cost of the items sold is $4,500. Oakton uses the periodic inventory system. The journal entry or entries Oakton will make on September 15 is:

Nalepa Inc. purchased equipment for $23,500 on April 1, 2022. The equipment will be depreciated using the straight-line method over its four-year useful life. Assuming the equipment’s salvage value is $2,300, what will be the amount of accumulated depreciation on the equipment on December 31, 2024?  

Dominic Company borrowed $26,000 by signing a 180-day promissory note at 6%. The total to be paid at maturity of the note is:

Regarding warranties, companies should:

Nalepa Inc. purchased equipment for $23,500 on April 1, 2022. The equipment will be depreciated using the straight-line method over its four-year useful life. Assuming the equipment’s salvage value is $2,300, what will be the amount of accumulated depreciation on the equipment on December 31, 2024?  

Seymour borrows money by promising to make a single payment of $112,000 at the end of 4 years. How much money is Seymour able to borrow today if the interest rate is 12%, compounded semiannually?

Baker Company purchases equipment at the beginning of the year at a cost of $130,000. The equipment is depreciated using the double-declining-balance method. The equipment’s useful life is estimated to be 4 years with a $10,800 salvage value. Depreciation expense in year 4 is:

Baker Company purchases equipment at the beginning of the year at a cost of $130,000. The equipment is depreciated using the double-declining-balance method. The equipment’s useful life is estimated to be 4 years with a $10,800 salvage value. Depreciation expense in year 4 is:

Lieberman Company has the following per unit original costs and replacement costs for its inventory:   Part A: 50 units with a cost of $5 and replacement cost of $4.50. Part B: 75 units with a cost of $6 and replacement cost of $6.50. Part C: 160 units with a cost of $3 and replacement cost of $2.50.   Under lower of cost or market, the total value of this company’s ending inventory must be reported as: