Homework Answers
| Account Titles | Debit | Credit | |
| (a) | Accum. Dep | $23,100 | |
| Loss on sale of Equipment | $33,000 | ||
| Machinery | $56,100 | ||
| (b) | Cash | $37,600 | |
| Accum. Dep | $23,100 | ||
| Profit in sale of Machinery | $4,600 | ||
| Machinery | $56,100 | ||
| (c) | Cash | $18,900 | |
| Accum. Dep | $23,100 | ||
| Loss on sale of Machinery | $14,100 | ||
| Machinery | $56,100 | ||
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Record entries for the disposal under the following assumptions. (Credit account titles are automatically indented when...
Sarasota Co. has equipment that cost $75,700 and that has been depreciated $49,800. Record the disposal...
Sarasota Co. has equipment that cost $75,700 and that has been
depreciated $49,800.
Record the disposal under the following assumptions.
(a)
It was scrapped as having no value.
(b)
It was sold for $22,200.
(c)
It was sold for $27,200.
(Credit account titles are automatically indented
when amount is entered. Do not indent manually. If no entry is
required, select "No Entry" for the account titles and enter 0 for
the amounts.)
No.
Account Titles and Explanation
Debit
Credit
(a)...
Prepare journal entries to record these transactions. (Credit account titles are automatically indented when amount is...
Prepare journal entries to record these transactions. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account tities and enter O for the amounts.) (a) received (b) No. Account Titles and Explanation Cullumber Company retires its delivery equipment, which cost $54,410. Accumulated depreciation is also $54,410 on this delivery equipment. No salvage value is Assume the same information as in part (a), except that accumulated...
Brief Exercise 9-7 Prepare journal entries to record these transactions. (Credit account titles are automatically indented...
Brief Exercise 9-7 Prepare journal entries to record these transactions. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) (a) Sheridan Company retires its delivery equipment, which cost $49,970. Accumulated depreciation is also $49,970 on this delivery equipment. No salvage value is (b) Assume the same information as in part (a), except that accumulated depreciation for the...
Brief Exercise 9-7 Prepare journal entries to record these transactions. (Credit account titles are automatically indented...
Brief Exercise 9-7 Prepare journal entries to record these transactions. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter for the amounts.) (a) (b) Blossom Company retires its delivery equipment, which cost $50,070. Accumulated depreciation is also $50,070 on this delivery equipment. No salvage value is received. Assume the same information as in part(a), except that accumulated depreciation for the equipment...
Record the transactions on the books of Grouper Corporation. (Credit account titles are automatically indented when...
Record the transactions on the books of Grouper Corporation.
(Credit account titles are automatically indented when
the amount is entered. Do not indent manually. If no entry is
required, select "No Entry" for the account titles and enter 0 for
the amounts.
How do I answer question b?
learn.wileyplus.com WP Purchase Returns and Allowances 680 eTextbook and Media Account List of Accounts Dashboard Attempts: 2 of 2 used Courses Calendar Record the transactions on the books of Grouper Corporation. (Credit...
Prepare adjusting entries for the following transactions. (Credit account titles are automatically indented when the amount...
Prepare adjusting entries for the following transactions. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No entry" for the account titles and enter o for the amounts.) 1. 2. 3. 4. 5. Depreciation on equipment is $1,396 for the accounting period. Interest owed on a loan but not paid or recorded is $292. There was no beginning balance of supplies and $572 of office supplies were purchased...
journal entries in the order presented in the problem. Credit account titles are automatically indented when...
journal entries in the order presented in the problem. Credit account titles are automatically indented when amount is entered. Do not indeot manoalty If no entry is required, select "No entry for the account titles and enter 0 for the amounts) Date Account Titles and Explanation Credit Indicate the balance sheet and income statement account balances at December 33, 2017, under each method of accounting Dividend revenue Unrealized gain income STANDARD Question 5 Weidebrecht Design acquired 30% of the outstanding...
Please help fill in missing! Prepare journal entries to record these transactions. (Credit account titles are...
Please help fill in missing!
Prepare journal entries to record these transactions. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) (a) Echo Company retires its delivery equipment, which cost $41,000. Accumulated depreciation is also $41,000 on this delivery equipment. No salvage value is received. (b) Assume the same information as in part (a), except that accumulated...
Tamarisk, Inc. has equipment that cost $79,900 and that has been depreciated $50,500 Record the disposal...
Tamarisk, Inc. has equipment that cost $79,900 and that has been depreciated $50,500 Record the disposal under the following assumptions. (a) It was scrapped as having no value. It was sold for $23,800. (b) It was sold for $32,100. (c) (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) Credit Debit No. Account Titles and Explanation (a)...
Prepare the necessary correcting entry for each of the following. (Credit account titles are automatically indented...
Prepare the necessary
correcting entry for each of the following. (Credit account titles
are automatically indented when the amount is entered. Do not
indent manually.) a. A payment on account of $840 was debited to
Accounts Payable $480 and credited to Cash $480. b. The collection
of Accounts Receivable of $680 was recorded as a debit to Cash $680
and a credit to Service Revenue $680.
Question 6 Prepare the necessary correcting entry for each of the following. (Credit account...
Sarasota Co. has equipment that cost $75,700 and that has been
depreciated $49,800.
Record the disposal under the following assumptions.
(a)
It was scrapped as having no value.
(b)
It was sold for $22,200.
(c)
It was sold for $27,200.
(Credit account titles are automatically indented
when amount is entered. Do not indent manually. If no entry is
required, select "No Entry" for the account titles and enter 0 for
the amounts.)
No.
Account Titles and Explanation
Debit
Credit
(a)...
Prepare journal entries to record these transactions. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account tities and enter O for the amounts.) (a) received (b) No. Account Titles and Explanation Cullumber Company retires its delivery equipment, which cost $54,410. Accumulated depreciation is also $54,410 on this delivery equipment. No salvage value is Assume the same information as in part (a), except that accumulated...
Brief Exercise 9-7 Prepare journal entries to record these transactions. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) (a) Sheridan Company retires its delivery equipment, which cost $49,970. Accumulated depreciation is also $49,970 on this delivery equipment. No salvage value is (b) Assume the same information as in part (a), except that accumulated depreciation for the...
Brief Exercise 9-7 Prepare journal entries to record these transactions. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter for the amounts.) (a) (b) Blossom Company retires its delivery equipment, which cost $50,070. Accumulated depreciation is also $50,070 on this delivery equipment. No salvage value is received. Assume the same information as in part(a), except that accumulated depreciation for the equipment...
Record the transactions on the books of Grouper Corporation.
(Credit account titles are automatically indented when
the amount is entered. Do not indent manually. If no entry is
required, select "No Entry" for the account titles and enter 0 for
the amounts.
How do I answer question b?
learn.wileyplus.com WP Purchase Returns and Allowances 680 eTextbook and Media Account List of Accounts Dashboard Attempts: 2 of 2 used Courses Calendar Record the transactions on the books of Grouper Corporation. (Credit...
Prepare adjusting entries for the following transactions. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No entry" for the account titles and enter o for the amounts.) 1. 2. 3. 4. 5. Depreciation on equipment is $1,396 for the accounting period. Interest owed on a loan but not paid or recorded is $292. There was no beginning balance of supplies and $572 of office supplies were purchased...
journal entries in the order presented in the problem. Credit account titles are automatically indented when amount is entered. Do not indeot manoalty If no entry is required, select "No entry for the account titles and enter 0 for the amounts) Date Account Titles and Explanation Credit Indicate the balance sheet and income statement account balances at December 33, 2017, under each method of accounting Dividend revenue Unrealized gain income STANDARD Question 5 Weidebrecht Design acquired 30% of the outstanding...
Please help fill in missing!
Prepare journal entries to record these transactions. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) (a) Echo Company retires its delivery equipment, which cost $41,000. Accumulated depreciation is also $41,000 on this delivery equipment. No salvage value is received. (b) Assume the same information as in part (a), except that accumulated...
Tamarisk, Inc. has equipment that cost $79,900 and that has been depreciated $50,500 Record the disposal under the following assumptions. (a) It was scrapped as having no value. It was sold for $23,800. (b) It was sold for $32,100. (c) (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) Credit Debit No. Account Titles and Explanation (a)...
Prepare the necessary
correcting entry for each of the following. (Credit account titles
are automatically indented when the amount is entered. Do not
indent manually.) a. A payment on account of $840 was debited to
Accounts Payable $480 and credited to Cash $480. b. The collection
of Accounts Receivable of $680 was recorded as a debit to Cash $680
and a credit to Service Revenue $680.
Question 6 Prepare the necessary correcting entry for each of the following. (Credit account...
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