Event | Date | Assets + | Liabilities + | Stockholders Equity |
1. | Dec 31, 2019 | - $ 7,200 | - $ 7,200 | |
2. a. | Jan 2, 2020 | + 13,000 | ||
2. b. | 2020 | - 1,000 |
E8-8 (Static) Determining Financial Statement Effects of Depreciation and Repairs (Straight-Line Depreciation) LO8-2, 8-3 Hulme Company...
CO- O goVetermining rangiai avement Cirects Or vepreciation and repairs aur agnit-Line Depreciation) LO8-2, 8-3 Hulme Company operates a small manufacturing facility as a supplement to its regular service activities. At the beginning of 2020, an asset account for the company showed the following balances acturing pent Molated depreciation thr 2013 5115.419 60,000 During 2020, the following expenditures were incurred for the equipment References Major overhaul of the equipment on January 2, 2020, that improved officia Routine maintenance and repairs...
Hulme Company operates a small manufacturing facility as a supplement to its regular service activities. At the beginning of 2020, an asset account for the company showed the following balances Manufacturing equipment Accumulated depreciation through 2019 $ 120,000 57,600 During 2020, the following expenditures were incurred for the equipment Major overhaul of the equipment on January 2, 2020, that improved efficiency Routine maintenance and repairs on the equipment $ 13,000 1,000 The equipment is being depreciated on a straight-line basis...
Hulme Company operates a small manufacturing facility as a supplement to its regular service activities. At the beginning of 2020, an asset account for the company showed the following balances: $ Manufacturing equipment. Accumulated depreciation through 2019 120,000 57,600 During 2020, the following expenditures were incurred for the equipment: Major overhaul of the equipment on January 2, 2020, that improved efficiency Routine maintenance and repairs on the equipment $ 13,000 1,000 The equipment is being depreciated on a straight-line basis...
Hulme Company operates a small manufacturing facility as a supplement to its regular service activities. At the beginning of 2020, an asset account for the company showed the following balances: Manufacturing equipment $ 132,000 Accumulated depreciation through 2019 76,000 During 2020, the following expenditures were incurred for the equipment: Major overhaul of the equipment on January 2, 2020, that improved efficiency $ 18,000 Routine maintenance and repairs on the equipment 2,600 The equipment is being depreciated on a straight-line basis...
Hulme Company operates a small manufacturing facility as a supplement to its regular service activities. At the beginning of 2017, an asset account for the company showed the following balances: $ Manufacturing equipment Accumulated depreciation through 2016 150,000 60,000 During 2017, the following expenditures were incurred for the equipment: Routine maintenance and repairs on the equipment Major overhaul of the equipment that improved efficiency on January 2, 2017 $ 600 2, 2017 18,000 The equipment is being depreciated on a...
Hulme Company operates a small manufacturing facility as a supplement to its regular service activities. At the beginning of 2020, an asset account for the company showed the following balances: Manufacturing equipment Accumulated depreciation through 2019 $110,000 58,500 During 2020, the following expenditures were incurred for the equipment: Major overhaul of the equipment on January 2, 2020, that improved efficiency $ 15,000 Routine maintenance and repairs on the equipment 1,500 The equipment is being depreciated on a straight-line basis over...
Hulme Company operates a small manufacturing facility as a supplement to its regular service activities. At the beginning of 2020, an asset account for the company showed the following balances: Manufacturing equipment Accumulated depreciation through 2019 $120,000 63,000 During 2020, the following expenditures were incurred for the equipment: Major overhaul of the equipment on January 2, 2020, that improved efficiency Routine maintenance and repairs on the equipment $18,000 2,000 The equipment is being depreciated on a straight-line basis over an...
I am not sure what I did wrong here.... Required information [The following information applies to the questions displayed below. Hulme Company operates a small manufacturing facility as a supplement to its regular service activities. At the beginning of 2020, an asset account for the company showed the following balances: Manufacturing equipment Accumulated depreciation through 2019 $ 120,000 57,600 During 2020, the following expenditures were incurred for the equipment: $ 13,000 Major overhaul of the equipment on January 2, 2020,...
E8-4 Determining Financial Statement Effects of an Asset Acquisition and Depreciation (Straight-Line Depreciation) LO8-2, 8-3 [The following information applies to the questions displayed below.] During Year 1, Ashkar Company ordered a machine on January 1 at an invoice price of $27,000. On the date of delivery, January 2, the company paid $7,000 on the machine, with the balance on credit at 9 percent interest due in six months. On January 3, it paid $1,100 for freight on the machine. On...
Required information E8-4 (Static) Determining Financial Statement Effects of an Asset Acquisition and Depreciation (Straight- Line Depreciation) LO8-2, 8-3 The following information applies to the questions displayed below.) During Year 1, Ashkar Company ordered a machine on January 1 at an invoice price of $21,000. On the date of delivery January 2, the company paid $6,000 on the machine, with the balance on credit at 10 percent interest due in six months. On January 3, it paid $1,000 for freight...