Homework Answers
Required journal entry to record impairment is:
| Date | General Journal | Debit | Credit |
| 1 | Impairment loss | $3625 | |
| Accumulated depreciation and impairment losses | $3625 | ||
| (for impairment loss) |
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me BlackbN ASUNMCampus Biness Calculus 01-25-20 12 Chapter of Accounting X weetheation.com apter 08: Accounting for...
Blue Sky Company's 12/31/08 balance sheet reports assets of $5,000,000 and liabilities of $2,000,000. All of...
Blue Sky Company's 12/31/08 balance sheet reports assets of $5,000,000 and liabilities of $2,000,000. All of Blue Sky's assets' book values approximate their fair value, except for land, which has a fair value that is $200,000 greater than its book value. On 12/31/08, Aaron Corporation paid $5,300,000 to acquire Blue Sky. What amount of goodwill should Aaron record as a result of this purchase? Select one: O a. $2,700000 O b. $300,000 O c. $2,300,000 O d. $2,000,000 O e....
Chapter 08 Homework i Saved 12 On April 2. 2018, Montana Mining Co. pays $4,788,910 for...
Chapter 08 Homework i Saved 12 On April 2. 2018, Montana Mining Co. pays $4,788,910 for an ore deposit containing 1,469,000 tons. The company installs machinery in the mine costing $218,700, with an estimated seven-year life and no salvage value. The machinery will be abandoned when the ore is completely mined. Montana begins mining on May 1, 2018, and mines and sells 141,700 tons of ore during the remaining eight months of 2018. points Prepare the December 31, 2018, entries...
True or False questions for Accounting ACCT-1001 Financial Accounting Part 1 Chapter 2 Analyzing and Recording...
True or False questions for Accounting
ACCT-1001 Financial Accounting Part 1 Chapter 2 Analyzing and Recording Transactions Module #2 - Chapter #2 Assignment 2C-2020 True / False The steps covered in the Accounting Cycle in this module were adjustments, prepare adjusted trial balance and prepare financial statements The account is a detailed record of the increases and decreases in a specific asset, liability or equity item. A ledger is a group of all the accounts used by a business and...
Please help me out and explain how to get the answers. Thank you PA9-4 Recording Transactions...
Please help me out and explain how to get the answers. Thank
you
PA9-4 Recording Transactions and Adjustments for Tangible and Intangible Assets [LO 9-1, LO 9-2, LO 9-3, LO 9-4, LO 9-5, LO 9-6] The following transactions and adjusting entries were completed by a paper-packaging company called Gravure Graphics International during 2018 and 2019. The company uses straight-line depreciation for trucks and other vehicles, double-declining-balance depreciation for buildings, and straight-line amortization for patents. 2018 January 2 Paid $95,000 cash...
Can you also explain how did you get the answer ? PA9-4 Recording Transactions and Adjustments...
Can you also explain how did you get the answer ?
PA9-4 Recording Transactions and Adjustments for Tangible and Intangible Assets [LO 9-1, LO 9-2, LO 9-3, LO 9-4, LO 9-5, LO 9-6] The following transactions and adjusting entries were completed by a paper-packaging company called Gravure Graphics International during 2018 and 2019. The company uses straight-line depreciation for trucks and other vehicles, double-declining-balance depreciation for buildings, and straight-line amortization for patents. 2018 January 2 Paid $95,000 cash to purchase...
Chapter 12 eBook Show Me How Calculator Recording Partner's Original Investment 1 EX 12.03.EXCEL ALGO Instruction...
Chapter 12 eBook Show Me How Calculator Recording Partner's Original Investment 1 EX 12.03.EXCEL ALGO Instruction Chart of Accounts Journal 2. EX 12.18 EXCEL ALGO Instruction 3. EX 12.08 BLANKSHEETAL... 4. PE 1203A BLANKSHEET 5. EX 1201 BANSHEETAL... Vanessa Kaser and Mariah Newman decide to form a nacheshi by combining the assets of their separate businesses Kaiser contributes the following assets to the pateicas, 524500, accounts receivable with a tece amount of $161.0 and an allowance for doubt accounts of...
The following transactions and adjusting entries were completed by a paper-packaging company called Gravure Graphics International...
The following transactions and adjusting entries were completed
by a paper-packaging company called Gravure Graphics International
during 2018 and 2019. The company uses straight-line depreciation
for trucks and other vehicles, double-declining-balance
depreciation for buildings, and straight-line amortization for
patents. (I JUST NEED HELP WITH #10,11,12 PLEASE...Been stuck for
over a hour!!)
2018
January
2
Paid $90,000 cash to purchase storage shed components.
January
3
Paid $5,000 cash to have the storage shed erected. The storage
shed has an estimated life...
How to finish 6,8,9,10,11,12 journal entries? The following transactions and adjusting entries were completed by a...
How to finish 6,8,9,10,11,12
journal entries?
The following transactions and adjusting entries were completed by a paper-packaging company called Gravure Graphics International during 2018 and 2019. The company uses straight-line depreciation for trucks and other vehicles, double-declining-balance depreciation for buildings, and straight-line amortization for patents. 2018 January 2 Paid $85,000 cash to purchase storage shed components. January 3 Paid $5,000 cash to have the storage shed erected. The storage shed has an estimated life of 10 years and a residual...
The accounting records of Jamaican Importers, Inc., at January 1, 2018. included the following: Assets: Investme...
The accounting records of Jamaican Importers, Inc., at January 1, 2018. included the following: Assets: Investment in IBM common shares Less: Fair value adjustment $2,195,000 (230,000) $1,965,000 No changes occurred during 2018 in the investment portfolio. Required: Prepare appropriate adjusting entry(s) at December 31, 2018, assuming the fair value of the IBM common shares was 1. $1,415.000 2. $1,989,000 3. $2,205,000 (If no entry is required for a transaction/event, select "No journal entry required in the first account field.) Answer...
please help me analyze this problem. thank you From problem 2-1 to 2-5 CHAPTER Case A...
please help me analyze this problem. thank you
From problem 2-1 to 2-5
CHAPTER Case A Case B Case C $ 120 260 3,170 $ 3.900 1.900 12.900 $ 59 46 791 $ 190 1.100 $ 2.350 16.150 $72 229 Cash Accounts receivable Equipment Accounts payable Capital withdrawals Revenue.. Wages expense Total 850 7.000 0 3,000 9,600 610 8,700 $34 400 $5.010 $4,290 10 $906 $28.100 $942 PROBLEMS Problem 2-1A Analyzing transactions and recording journal entries L03,5 Tobias Eaden started...
Blue Sky Company's 12/31/08 balance sheet reports assets of $5,000,000 and liabilities of $2,000,000. All of Blue Sky's assets' book values approximate their fair value, except for land, which has a fair value that is $200,000 greater than its book value. On 12/31/08, Aaron Corporation paid $5,300,000 to acquire Blue Sky. What amount of goodwill should Aaron record as a result of this purchase? Select one: O a. $2,700000 O b. $300,000 O c. $2,300,000 O d. $2,000,000 O e....
Chapter 08 Homework i Saved 12 On April 2. 2018, Montana Mining Co. pays $4,788,910 for an ore deposit containing 1,469,000 tons. The company installs machinery in the mine costing $218,700, with an estimated seven-year life and no salvage value. The machinery will be abandoned when the ore is completely mined. Montana begins mining on May 1, 2018, and mines and sells 141,700 tons of ore during the remaining eight months of 2018. points Prepare the December 31, 2018, entries...
True or False questions for Accounting
ACCT-1001 Financial Accounting Part 1 Chapter 2 Analyzing and Recording Transactions Module #2 - Chapter #2 Assignment 2C-2020 True / False The steps covered in the Accounting Cycle in this module were adjustments, prepare adjusted trial balance and prepare financial statements The account is a detailed record of the increases and decreases in a specific asset, liability or equity item. A ledger is a group of all the accounts used by a business and...
Please help me out and explain how to get the answers. Thank
you
PA9-4 Recording Transactions and Adjustments for Tangible and Intangible Assets [LO 9-1, LO 9-2, LO 9-3, LO 9-4, LO 9-5, LO 9-6] The following transactions and adjusting entries were completed by a paper-packaging company called Gravure Graphics International during 2018 and 2019. The company uses straight-line depreciation for trucks and other vehicles, double-declining-balance depreciation for buildings, and straight-line amortization for patents. 2018 January 2 Paid $95,000 cash...
Can you also explain how did you get the answer ?
PA9-4 Recording Transactions and Adjustments for Tangible and Intangible Assets [LO 9-1, LO 9-2, LO 9-3, LO 9-4, LO 9-5, LO 9-6] The following transactions and adjusting entries were completed by a paper-packaging company called Gravure Graphics International during 2018 and 2019. The company uses straight-line depreciation for trucks and other vehicles, double-declining-balance depreciation for buildings, and straight-line amortization for patents. 2018 January 2 Paid $95,000 cash to purchase...
Chapter 12 eBook Show Me How Calculator Recording Partner's Original Investment 1 EX 12.03.EXCEL ALGO Instruction Chart of Accounts Journal 2. EX 12.18 EXCEL ALGO Instruction 3. EX 12.08 BLANKSHEETAL... 4. PE 1203A BLANKSHEET 5. EX 1201 BANSHEETAL... Vanessa Kaser and Mariah Newman decide to form a nacheshi by combining the assets of their separate businesses Kaiser contributes the following assets to the pateicas, 524500, accounts receivable with a tece amount of $161.0 and an allowance for doubt accounts of...
The following transactions and adjusting entries were completed
by a paper-packaging company called Gravure Graphics International
during 2018 and 2019. The company uses straight-line depreciation
for trucks and other vehicles, double-declining-balance
depreciation for buildings, and straight-line amortization for
patents. (I JUST NEED HELP WITH #10,11,12 PLEASE...Been stuck for
over a hour!!)
2018
January
2
Paid $90,000 cash to purchase storage shed components.
January
3
Paid $5,000 cash to have the storage shed erected. The storage
shed has an estimated life...
How to finish 6,8,9,10,11,12
journal entries?
The following transactions and adjusting entries were completed by a paper-packaging company called Gravure Graphics International during 2018 and 2019. The company uses straight-line depreciation for trucks and other vehicles, double-declining-balance depreciation for buildings, and straight-line amortization for patents. 2018 January 2 Paid $85,000 cash to purchase storage shed components. January 3 Paid $5,000 cash to have the storage shed erected. The storage shed has an estimated life of 10 years and a residual...
The accounting records of Jamaican Importers, Inc., at January 1, 2018. included the following: Assets: Investment in IBM common shares Less: Fair value adjustment $2,195,000 (230,000) $1,965,000 No changes occurred during 2018 in the investment portfolio. Required: Prepare appropriate adjusting entry(s) at December 31, 2018, assuming the fair value of the IBM common shares was 1. $1,415.000 2. $1,989,000 3. $2,205,000 (If no entry is required for a transaction/event, select "No journal entry required in the first account field.) Answer...
please help me analyze this problem. thank you
From problem 2-1 to 2-5
CHAPTER Case A Case B Case C $ 120 260 3,170 $ 3.900 1.900 12.900 $ 59 46 791 $ 190 1.100 $ 2.350 16.150 $72 229 Cash Accounts receivable Equipment Accounts payable Capital withdrawals Revenue.. Wages expense Total 850 7.000 0 3,000 9,600 610 8,700 $34 400 $5.010 $4,290 10 $906 $28.100 $942 PROBLEMS Problem 2-1A Analyzing transactions and recording journal entries L03,5 Tobias Eaden started...
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