Homework Answers
| Revenue from Sale | $ 5,312 |
| 6640*6640/(6640+1660) | |
| Revenue from Service | $ 1,328 |
| 6640*1660/(6640+1660) |
| Journal Entries - HEC | ||||
| Event | Date | Particulars | Debit | Credit |
| 1 | 1-Jan | Cash | $6,640.00 | |
| Unearned Revenue | $6,640.00 | |||
| (To record cash received from the customer for sale) | ||||
| 2 | 1-Jan | Unearned Revenue | $5,312.00 | |
| Sales Revenue | $5,312.00 | |||
| (To record sales revenue for equipment sale) | ||||
| 3 | 1-Jan | Cost of goods sold | $3,400.00 | |
| Inventory | $3,400.00 | |||
| (To record cost of goods sold) | ||||
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Hospital Equipment Company (HEC) acquired several MRI machines for its inventory at a cost of $3,400...
Required information [The following information applies to the questions displayed below.] Hospital Equipment Company (HEC) acquired...
Required information [The following information applies to the questions displayed below.] Hospital Equipment Company (HEC) acquired several fMRI machines for its inventory at a cost of $4,300 per machine. HEC usually sells these machines to hospitals at a price of $7,520. HEC also separately sells 12 months of training and repair services for fMRI machines for $1,880. HEC is paid $7,520 cash on November 30 for the sale of an fMRI machine delivered on December 1. HEC sold the machine...
Hospital Equipment Company (HEC) acquired several fMRI machines for its inventory at a cost of $3,100...
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Required information [The following information applies to the questions displayed below.) Hospital Equipment Company (HEC) acquired...
Required information [The following information applies to the questions displayed below.) Hospital Equipment Company (HEC) acquired several fMRI machines for its inventory at a cost of $4,300 per machine. HEC usually sells these machines to hospitals at a price of $7,520. HEC also separately sells 12 months of training and repair services for fMRI machines for $1,880. HEC is paid $7,520 cash on November 30 for the sale of an fMRI machine delivered on December 1. HEC sold the machine...
Hospital Equipment Company (HE) acquired several MRI machines for its inventory at a cost of $4,200...
Hospital Equipment Company (HE) acquired several MRI machines for its inventory at a cost of $4,200 per machine. HEC usually sells these machines to hospitals at a price of $7.440. HEC also separately sells 12 months of training and repair services for fMRI machines for $1.860. HEC is paid $7440 cash on November 30 for the sale of an MRI machine delivered on December 1 HEC sold the machine at its regular price, but included one year of free training...
Hospital Equipment Company (HEC) acquired several fMRI machines for its inventory at a cost of $3,800...
Hospital Equipment Company (HEC) acquired several fMRI machines for its inventory at a cost of $3,800 per machine. HEC usually sells these machines to hospitals at a price of $7,120. HEC also separately sells 12 months of training and repair services for fMRI machines for $1,780. HEC is paid $7,120 cash on November 30 for the sale of an fMRI machine delivered on December 1. HEC sold the machine at its regular price, but included one year of free training...
[The following information applies to the questions displayed below.] Hospital Equipment Company (HEC) acquired several...
[The following information applies to the questions displayed below.] Hospital Equipment Company (HEC) acquired several fMRI machines for its inventory at a cost of $4,300 per machine. HEC usually sells these machines to hospitals at a price of $7,520. HEC also separately sells 12 months of training and repair services for fMRI machines for $1,880. HEC is paid $7,520 cash on November 30 for the sale of an fMRI machine delivered on December 1. HEC sold the machine at its...
Diaz Company owns a milling machine that cost $125,900 and has accumulated depreciation of $91,300. Prepare...
Diaz Company owns a milling machine that cost $125,900 and has accumulated depreciation of $91,300. Prepare the entry to record the disposal of the milling machine on January 3 under each of the following independent situations. 1. The machine needed extensive repairs, and it was not worth repairing Diaz disposed of the machine, receiving nothing in return. 2. Diaz sold the machine for $15,700 cash. 3. Diaz sold the machine for $34,600 cash. 4. Diaz sold the machine for $40,600...
Diaz Company owns a machine that cost $126,300 and has accumulated depreciation of $93,900. Prepare the...
Diaz Company owns a machine that cost $126,300 and has accumulated depreciation of $93,900. Prepare the entry to record the disposal of the machine on January 1 in each seperate situation. 1. The machine needed extensive repairs and was not worth repairing Diaz disposed of the machine, receiving nothing in return. 2. Diaz sold the machine for $16,100 cash. 3. Diaz sold the machine for $32,400 cash. 4. Diaz sold the machine for $41,500 cash. View transaction list Journal entry...
Diaz Company owns a machine that cost $126,900 and has accumulated depreciation of $94,000. Prepare the...
Diaz Company owns a machine that cost $126,900 and has accumulated depreciation of $94,000. Prepare the entry to record the disposal of the machine on January 1 in each seperate situation. 1. The machine needed extensive repairs and was not worth repairing. Diaz disposed of the machine, receiving nothing in return. 2. Diaz sold the machine for $16,000 cash. 3. Diaz sold the machine for $32,900 cash. 4. Diaz sold the machine for $41,000 cash. View transaction list Journal entry...
Home Hardware reported beginning inventory of twenty two shovels, for a total cost of $110. The...
Home Hardware reported beginning inventory of twenty two shovels, for a total cost of $110. The company had the following transactions during the month: Jan. 2 Sold 6 shovels on account at a selling price of $12 per unit 16 Sold 12 shovels on account at a selling price of $12 per unit 18 Bought 7 shovels on account at a cost of $5 per unit 19 Sold 11 shovels on account at a selling price of $12 per unit...
Required information [The following information applies to the questions displayed below.] Hospital Equipment Company (HEC) acquired several fMRI machines for its inventory at a cost of $4,300 per machine. HEC usually sells these machines to hospitals at a price of $7,520. HEC also separately sells 12 months of training and repair services for fMRI machines for $1,880. HEC is paid $7,520 cash on November 30 for the sale of an fMRI machine delivered on December 1. HEC sold the machine...
Required information [The following information applies to the questions displayed below.) Hospital Equipment Company (HEC) acquired several fMRI machines for its inventory at a cost of $4,300 per machine. HEC usually sells these machines to hospitals at a price of $7,520. HEC also separately sells 12 months of training and repair services for fMRI machines for $1,880. HEC is paid $7,520 cash on November 30 for the sale of an fMRI machine delivered on December 1. HEC sold the machine...
Hospital Equipment Company (HE) acquired several MRI machines for its inventory at a cost of $4,200 per machine. HEC usually sells these machines to hospitals at a price of $7.440. HEC also separately sells 12 months of training and repair services for fMRI machines for $1.860. HEC is paid $7440 cash on November 30 for the sale of an MRI machine delivered on December 1 HEC sold the machine at its regular price, but included one year of free training...
[The following information applies to the questions displayed below.] Hospital Equipment Company (HEC) acquired several fMRI machines for its inventory at a cost of $4,300 per machine. HEC usually sells these machines to hospitals at a price of $7,520. HEC also separately sells 12 months of training and repair services for fMRI machines for $1,880. HEC is paid $7,520 cash on November 30 for the sale of an fMRI machine delivered on December 1. HEC sold the machine at its...
Diaz Company owns a milling machine that cost $125,900 and has accumulated depreciation of $91,300. Prepare the entry to record the disposal of the milling machine on January 3 under each of the following independent situations. 1. The machine needed extensive repairs, and it was not worth repairing Diaz disposed of the machine, receiving nothing in return. 2. Diaz sold the machine for $15,700 cash. 3. Diaz sold the machine for $34,600 cash. 4. Diaz sold the machine for $40,600...
Diaz Company owns a machine that cost $126,300 and has accumulated depreciation of $93,900. Prepare the entry to record the disposal of the machine on January 1 in each seperate situation. 1. The machine needed extensive repairs and was not worth repairing Diaz disposed of the machine, receiving nothing in return. 2. Diaz sold the machine for $16,100 cash. 3. Diaz sold the machine for $32,400 cash. 4. Diaz sold the machine for $41,500 cash. View transaction list Journal entry...
Diaz Company owns a machine that cost $126,900 and has accumulated depreciation of $94,000. Prepare the entry to record the disposal of the machine on January 1 in each seperate situation. 1. The machine needed extensive repairs and was not worth repairing. Diaz disposed of the machine, receiving nothing in return. 2. Diaz sold the machine for $16,000 cash. 3. Diaz sold the machine for $32,900 cash. 4. Diaz sold the machine for $41,000 cash. View transaction list Journal entry...
Home Hardware reported beginning inventory of twenty two shovels, for a total cost of $110. The company had the following transactions during the month: Jan. 2 Sold 6 shovels on account at a selling price of $12 per unit 16 Sold 12 shovels on account at a selling price of $12 per unit 18 Bought 7 shovels on account at a cost of $5 per unit 19 Sold 11 shovels on account at a selling price of $12 per unit...
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