Homework Answers
| Answer | |||
|
adjustment Journal entry |
|||
| Date | Explanation | Debit | Credit |
| 31-Dec | depreciation expense | $ 2,500 | |
| accumulated depreciation-equipment | $ 2,500 | ||
| ( To record adjustment entry for depreciation ) | |||
| Amount of depreciation 500*5 =2500 | |||
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A company purchases new equipment for $24,000 cash on August 1, 2016. Al the time of...
A company purchases new equipment for $54,000 cash on August 1, 2021. At the time of...
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What i have entered is incorrect, please help! Beaver Construction purchases new equipment for $45,360 cash...
What i have entered is incorrect, please help!
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please explain how you get depreciation expense and accumulated depreciation Beaver Construction purchases new equipment for...
please explain how you get depreciation expense and accumulated
depreciation
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On August 1, 2021, Trico Technologies, an aeronautic electronics company, borrows $19.2 million cash to expand operations. The loan is made by FirstBanc Corp. under a short-term line of credit arrangement. Trico signs a six-month, 8% promissory note. Interest is payable at maturity. Trico's year-end is December 31 Required: 1.-3. Record the necessary entries in the Journal Entry Worksheet below for Trico Technologies (if no entry is required for a particular transaction/event, select "No Journal Entry Required in the first...
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What i have entered is incorrect, please help!
Beaver Construction purchases new equipment for $45,360 cash on April 1, 2018. At the time of purchase, the equipment is expected to be used in operations for seven years (84 months) and have no resale or scrap value at the end. Beaver depreciates equipment evenly over the 84 months ($540/month). value: Required information 10.00 points 1. & 2. Record the necessary entries in the Journal Entry Worksheet below. (If no entry is...
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please explain how you get depreciation expense and accumulated
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