Refer to question 24 above.  24c. Using the same assumption…

Refer to question 24 above.  24c. Using the same assumption as part (a) above, prepare the journal entry at December 31, 2020, assuming the fair value of the asset has increased to $1,748,000. (If no entry is required, write “No Entry” for the account titles and enter 0 for the amounts.)   Account Title Debit  Credit  [v1] [v3]  [v2] [v4]

Round all dollar amounts to the nearest dollar. Enter a nega…

Round all dollar amounts to the nearest dollar. Enter a negative result using a minus “-” sign.   The management of Niantic Inc. is considering the purchase of equipment costing $[cost]. The equipment has a useful life of eight years, with $20,000 residual value. The use of this equipment will produce positive annual cash flow of $[cf] for eight years, as well as $20,000 from sale of the equipment at the end of the eighth year. Use the present value factors provided below to compute the net present value of this investment, discounted at an annual rate of 10%. Present value of $1 due in eight years, discounted at 10%, is 0.467. Present value of $1 received annually for eight years, discounted at 10% is 5.335.