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1. On January 15, 2010 a company issues 10,000 shares of $10 par value common stock...

1. On January 15, 2010 a company issues 10,000 shares of $10 par value common stock for $15 per share. The entry to record the issuance would be what?

2. On January 16th a company purchases a new machine at $18,000. The company also pays $500 for shipping, $100 for insurance while the machine is in transit and $450 labor to test and set up the machine. What is the recorded cost of the machine?

3. In June a company spends $410 on tools for the business. The $410 will be a reduction to what?

4. A payment of $15 million to pay off the face value of bonds at maturity would be reported in the statement of cash flows as what?

5. On January 1st 2015 John's company purchases a new machine at a cost of $22,000. Machine has a useful life of 5 years, with a salvage value of $2000. John uses straight line to record depreciation, what is the second year (2016) depreciation expense?
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