Which of the following would be included in the journal entry to retire a fixed asset?

On January 2, Year 1, a company borrows $1.2 million on a note due in 10 years. Each year interest of 9% of the principal must be paid. Proceeds from the loan are used to finance the construction of a building. All proceeds are spent evenly throughout the year and the building is complete at the end of Year 1. At what amount is the building capitalized?

Proceeds received on the sale of a facility used to purchase a new facility should be reported as a gain from:

A mining company uses the depletion method to allocate the cost of removing natural resources from its mine. Which of the following statements is correct?

On January 2, Year 1, a company borrows $1.2 million on a note due in 10 years. Each year interest of 9% of the principal must be paid. Proceeds from the loan are used to finance the construction of a building. All proceeds are spent evenly throughout the year and the building is complete at the end of Year 1. At what amount is the building capitalized?

Proceeds received on the sale of a facility used to purchase a new facility should be reported as a gain from:

A mining company uses the depletion method to allocate the cost of removing natural resources from its mine. Which of the following statements is correct?

Which of the following would be included in the journal entry to retire a fixed asset?

Nico, Inc purchased equipment by making a down payment of $3,000 and issuing a note payable for $20,000. A payment of $5,000 is to be made at the end of each year for 4 years. The applicable rate of interest is 7%. The present value of an ordinary annuity factor for 4 years at 7% is 4.18, and the present value for the future amount of a single sum of 1 dollar for 4 years at 7% is 0.645. Installation charges were $1,500. What is the capitalized cost of the equipment?

Of the following assets, which would be typically reported on a balance sheet as an intangible?