Tag Archives: Sales Tax Revenue

Pharoah Company received proceeds of $935000 on 10-year, 5% bonds issued on January 1, 2019. The bonds had a face value of $992000, pay interest annually on December 31, and have a call price of 103. Pharoah uses the straight-line method of amortization. What is the amount of interest Pharoah must pay the bondholders in 2019?Discuss

1, On January 1, a machine with a useful life of five years and a salvage value of $20000 was purchased for $160000. What is the depreciation expense for year 2 under straight-line depreciation? $28000. $19200. $96000. $76800. 2, Ayayai Corp. bought equipment on January 1, 2022. The equipment cost $470000 and had an expected salvage value of […]