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Belltone Company made the following expenditures related to its 10-year-old manufacturing facility: 1. The heating system...
Belltone Company made the following expenditures related to its 10-year-old manufacturing facility: 1. The heating system...
Belltone Company made the following expenditures related to its 10-year-old manufacturing facility: 1. The heating system was replaced at a cost of $180,000. The cost of the old system was not known. The company accounts for improvements as reductions of accumulated depreciation. 2. A new wing was added at a cost of $720,000. The new wing substantially increases the productive capacity of the plant. 3. Annual building maintenance was performed at a cost of $21,000. 4. All of the equipment...
Belltone Company made the following expenditures related to its 10-year-old manufacturing facility: 1. The heating system...
Belltone Company made the following expenditures related to its 10-year-old manufacturing facility: 1. The heating system was replaced at a cost of $155,000. The cost of the old system was not known. The company accounts for improvements as reductions of accumulated depreciation. 2. A new wing was added at a cost of $620,000. The new wing substantially increases the productive capacity of the plant. 3. Annual building maintenance was performed at a cost of $16,000. 4. All of the equipment...
I will give thumbs up for correct answers! Thank you! Belltone Company made the following expenditures...
I will give thumbs up for correct answers! Thank you!
Belltone Company made the following expenditures related to its 10-year-old manufacturing facility: 1. The heating system was replaced at a cost of $200,000. The cost of the old system was not known. The company accounts for improvements as reductions of accumulated depreciation. 2. A new wing was added at a cost of $770,000. The new wing substantially increases the productive capacity of the plant. 3. Annual building maintenance was performed...
Belltone Company made the following expenditures related to its 10-year-old manufacturing facility: The heating system was...
Belltone Company made the following expenditures related to its 10-year-old manufacturing facility: The heating system was replaced at a cost of $250,000. The cost of the old system was not known. The company accounts for improvements as reductions of accumulated depreciation. A new wing was added at a cost of $750,000. The new wing substantially increases the productive capacity of the plant. Annual building maintenance was performed at a cost of $14,000. All of the equipment on the assembly line...
Belltone Company made the following expenditures related to its 10-year-old manufacturing facility: The heating system was...
Belltone Company made the following expenditures related to its 10-year-old manufacturing facility: The heating system was replaced at a cost of $165,000. The cost of the old system was not known. The company accounts for improvements as reductions of accumulated depreciation. A new wing was added at a cost of $660,000. The new wing substantially increases the productive capacity of the plant. Annual building maintenance was performed at a cost of $18,000. All of the equipment on the assembly line...
please complete all 8 The following transactions occurred at the Daisy King Ice Cream Company. 1....
please complete all 8
The following transactions occurred at the Daisy King Ice Cream Company. 1. Started business by Issuing 10,000 shares of common stock for $35,000. 2. Leased a building for three years at $650 per month and paid six months' rent in advance. 3. Purchased equipment for $6,900, signing a two-year, 12% note. 4. Purchased $3,300 of supplies on account. 5. Recorded cash sales of $2,300 for the first week. 6. Paid weekly salaries, $1,070. 7. Paid for...
John's Specialty Store uses a perpetual inventory system. The following are some inventory transactions for the...
John's Specialty Store uses a perpetual inventory system. The following are some inventory transactions for the month of May: 1. John's purchased merchandise on account for $5,900. Freight charges of $750 were paid in cash. 2. John's returned some of the merchandise purchased in (1). The cost of the merchandise was $1,050 and John's account was credited by the supplier. 3. Merchandise costing $3,250 was sold for $6,100 in cash. Required: Prepare the necessary journal entries to record these transactions....
John's Specialty Store uses a periodic inventory system. The following are some inventory transactions for the...
John's Specialty Store uses a periodic inventory system. The following are some inventory transactions for the month of May: 1. John's purchased merchandise on account for $6,300. Freight charges of $950 were paid in cash. 2. John's returned some of the merchandise purchased in (1). The cost of the merchandise was $1,250 and John's account was credited by the supplier. 3. Merchandise costing $3,450 was sold for $6,500 in cash. Required: Prepare the necessary journal entries to record these transactions....
Wiater Company operates a small manufacturing facility. On January 1, 2018, an asset account for the...
Wiater Company operates a small manufacturing facility. On January 1, 2018, an asset account for the company showed the following balances: Equipment Accumulated Depreciation (beginning of the year) $200,000 62,000 During the first week of January 2018, the following expenditures were incurred for repairs and maintenance: Routine maintenance and repairs on the equipment Major overhaul of the equipment that improved efficiency $ 2,450 27,000 The equipment is being depreciated on a straight-line basis over an estimated life of 15 years...
[The following information applies to the questions displayed below.] At the beginning of Year 2, Oak...
[The following information applies to the questions
displayed below.]
At the beginning of Year 2, Oak Consulting had the following normal
balances in its accounts:
Account
Balance
Cash
$
31,800
Accounts receivable
20,900
Accounts payable
14,900
Common stock
23,900
Retained earnings
13,900
The following events apply to Oak Consulting for Year 2:
Provided $65,500 of services on account.
Incurred $3,500 of operating expenses on account.
Collected $46,800 of accounts receivable.
Paid $39,100 cash for salaries expense.
Paid $16,560 cash as...
Belltone Company made the following expenditures related to its 10-year-old manufacturing facility: 1. The heating system was replaced at a cost of $180,000. The cost of the old system was not known. The company accounts for improvements as reductions of accumulated depreciation. 2. A new wing was added at a cost of $720,000. The new wing substantially increases the productive capacity of the plant. 3. Annual building maintenance was performed at a cost of $21,000. 4. All of the equipment...
Belltone Company made the following expenditures related to its 10-year-old manufacturing facility: 1. The heating system was replaced at a cost of $155,000. The cost of the old system was not known. The company accounts for improvements as reductions of accumulated depreciation. 2. A new wing was added at a cost of $620,000. The new wing substantially increases the productive capacity of the plant. 3. Annual building maintenance was performed at a cost of $16,000. 4. All of the equipment...
I will give thumbs up for correct answers! Thank you!
Belltone Company made the following expenditures related to its 10-year-old manufacturing facility: 1. The heating system was replaced at a cost of $200,000. The cost of the old system was not known. The company accounts for improvements as reductions of accumulated depreciation. 2. A new wing was added at a cost of $770,000. The new wing substantially increases the productive capacity of the plant. 3. Annual building maintenance was performed...
please complete all 8
The following transactions occurred at the Daisy King Ice Cream Company. 1. Started business by Issuing 10,000 shares of common stock for $35,000. 2. Leased a building for three years at $650 per month and paid six months' rent in advance. 3. Purchased equipment for $6,900, signing a two-year, 12% note. 4. Purchased $3,300 of supplies on account. 5. Recorded cash sales of $2,300 for the first week. 6. Paid weekly salaries, $1,070. 7. Paid for...
John's Specialty Store uses a perpetual inventory system. The following are some inventory transactions for the month of May: 1. John's purchased merchandise on account for $5,900. Freight charges of $750 were paid in cash. 2. John's returned some of the merchandise purchased in (1). The cost of the merchandise was $1,050 and John's account was credited by the supplier. 3. Merchandise costing $3,250 was sold for $6,100 in cash. Required: Prepare the necessary journal entries to record these transactions....
John's Specialty Store uses a periodic inventory system. The following are some inventory transactions for the month of May: 1. John's purchased merchandise on account for $6,300. Freight charges of $950 were paid in cash. 2. John's returned some of the merchandise purchased in (1). The cost of the merchandise was $1,250 and John's account was credited by the supplier. 3. Merchandise costing $3,450 was sold for $6,500 in cash. Required: Prepare the necessary journal entries to record these transactions....
Wiater Company operates a small manufacturing facility. On January 1, 2018, an asset account for the company showed the following balances: Equipment Accumulated Depreciation (beginning of the year) $200,000 62,000 During the first week of January 2018, the following expenditures were incurred for repairs and maintenance: Routine maintenance and repairs on the equipment Major overhaul of the equipment that improved efficiency $ 2,450 27,000 The equipment is being depreciated on a straight-line basis over an estimated life of 15 years...
[The following information applies to the questions
displayed below.]
At the beginning of Year 2, Oak Consulting had the following normal
balances in its accounts:
Account
Balance
Cash
$
31,800
Accounts receivable
20,900
Accounts payable
14,900
Common stock
23,900
Retained earnings
13,900
The following events apply to Oak Consulting for Year 2:
Provided $65,500 of services on account.
Incurred $3,500 of operating expenses on account.
Collected $46,800 of accounts receivable.
Paid $39,100 cash for salaries expense.
Paid $16,560 cash as...
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