oct6. purchased office equipment on account $11,500 why is it "office equipment" and not "office equipment...
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oct6. purchased office equipment on account $11,500
why is it "office equipment" and not "office equipment...
Question 17 1.5 pts Supplies purchased on account were incorrectly recorded as Office Equipment. The correcting...
Question 17 1.5 pts Supplies purchased on account were incorrectly recorded as Office Equipment. The correcting entry would be Supplies, debit: Office Equipment, credit. Office Equipment, debit; Supplies Expense, credit. O Supplies, debit: Accounts Payable, credit. Accounts receivable, debit; Supplies, credit.
Purchased office furniture on account Account #1 Account Type Increase/Decrease Debit/Credit Account 2 Account Type Increase/Decrease...
Purchased office furniture on account Account #1 Account Type Increase/Decrease Debit/Credit Account 2 Account Type Increase/Decrease Debit/Credit Purchased equipment on account Account #1 Account Type Increase/Decrease Debit/Credit Account #2 Account Type Increase/Decrease Debit/Credit Purchased office supplies on account Account 31 Account Type Utred Account #2 Account Type Increase/Decrease Debit/Credit Paid for a one year insurance policy Account #1 Account Type Increase/Decrease Debit/Credit Account #2 Account Type Increase/Decrease Debit/Credit Received cash for services rendered to a client Account #1 Account Type...
Purchased office supplies on account Account #1 Account Type Increase/Decrease Debit/Credit Account #2 Account Type Increase/Decrease...
Purchased office supplies on account Account #1 Account Type Increase/Decrease Debit/Credit Account #2 Account Type Increase/Decrease Debit/Credit Bright, the owner, contributed furniture in exchange for capital. Account #1 Account Type Increase/Decrease Debit/Credit Account #2 Account Type Increase/Decrease Debit/Credit Purchased office furniture on account Account Account Type Increase/Decrease Debit/Credit Account #2 Account Type Increase/Decrease Debit/Credit Collected cash for services Account #1 Account Type Increase/Decrease Debit/Credit Account #2 Account Type Increase/Decrease Debit/Credit Accrued liability for utilities. Account #1 Account Type Increase/Decrease Debit/Credit...
1 a. Kacy Spade, owner, invested $11,500 cash in the company in exchange for common stock....
1 a. Kacy Spade, owner, invested $11,500 cash in the company in exchange for common stock. b. The company purchased office supplies for $334 cash. c. The company purchased $6,360 of office equipment on credit. d. The company received $1,357 cash as fees for services provided to a customer. e. The company paid $6,360 cash to settle the payable for the office equipment purchased in transaction c. f. The company billed a customer $2,438 as fees for services provided. g....
a. Jenna Aracel, the owner, invested $235,000 cash, office equipment with a value of $5,200, and...
a. Jenna Aracel, the owner, invested $235,000 cash, office equipment with a value of $5,200, and $64,000 of drafting equipment to launch the company in exchange for common stock b. The company purchased land worth $59,000 for an office by paying $8,500 cash and signing a long-term note payable for $50,500. c. The company purchased a portable building with $53,000 cash and moved it onto the land acquired in b. d. The company paid $3,500 cash for the premium on...
Sunland Company sells office equipment on July 31, 2022, for $22,080 cash. The office equipment originally...
Sunland Company sells office equipment on July 31, 2022, for $22,080 cash. The office equipment originally cost $72,560 and as of January 1, 2022, had accumulated depreciation of $38,910. Depreciation for the first 7 months of 2022 is $4.980. Prepare the journal entries to (a) update depreciation to July 31, 2022, and (b) record the sale of the equipment. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No...
Crane Company sells office equipment on July 31, 2022, for $20,440 cash. The office equipment originally...
Crane Company sells office equipment on July 31, 2022, for $20,440 cash. The office equipment originally cost $82,640 and as of January 1, 2022, had accumulated depreciation of $38,770. Depreciation for the first 7 months of 2022 is $4,250. Prepare the journal entries to (a) update depreciation to July 31, 2022, and (b) record the sale of the equipment. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No...
Purchased office supplies on account. Account Name Account Type Increase/Decrease Debit/Credit I Collected cash for future...
Purchased office supplies on account. Account Name Account Type Increase/Decrease Debit/Credit I Collected cash for future services. Account Name Account Type Increase/Decrease Debit/Credit sactions as journal entries. Record debits first, then credits. Collected $6,000 čash for future services. Date Accounts and Explanation Debit Credit Nov. 3 Owner contributed $8,000 in furniture in exchange for common stock. Date Accounts and Explanation Debit Credit Nov. 4
Apr 1 2 5 Paid rent on office for month, 56,000. Purchased office supplies on account,...
Apr 1 2 5 Paid rent on office for month, 56,000. Purchased office supplies on account, $2,400 Paid insurance premiums, $5,000. 10 Received cash from clients on account, $52,700. 15 Purchased land for a future building site for $227,000 paying $27,000 in cash and giving a note payable for the remainder Paid creditors on account, $6,050 20 Returned a portion of the office supplies purchased on April 2, receiving full credit for their cost, $360 23 Paid advertising expense, S4,150....
I will give thumbs up for correct answers! Thank you! Alteran Corporation purchased office equipment for...
I will give thumbs up for correct answers! Thank you!
Alteran Corporation purchased office equipment for $1.9 million at the beginning of 2019. The equipment is being depreciated over a 10-year life using the double-declining-balance method. The residual value is expected to be $800,000. At the beginning of 2021 (two years later), Alteran decided to change to the straight-line depreciation method for this equipment. Required: Prepare the journal entry to record depreciation for 2021. (If no entry is required for...
Question 17 1.5 pts Supplies purchased on account were incorrectly recorded as Office Equipment. The correcting entry would be Supplies, debit: Office Equipment, credit. Office Equipment, debit; Supplies Expense, credit. O Supplies, debit: Accounts Payable, credit. Accounts receivable, debit; Supplies, credit.
Purchased office furniture on account Account #1 Account Type Increase/Decrease Debit/Credit Account 2 Account Type Increase/Decrease Debit/Credit Purchased equipment on account Account #1 Account Type Increase/Decrease Debit/Credit Account #2 Account Type Increase/Decrease Debit/Credit Purchased office supplies on account Account 31 Account Type Utred Account #2 Account Type Increase/Decrease Debit/Credit Paid for a one year insurance policy Account #1 Account Type Increase/Decrease Debit/Credit Account #2 Account Type Increase/Decrease Debit/Credit Received cash for services rendered to a client Account #1 Account Type...
Purchased office supplies on account Account #1 Account Type Increase/Decrease Debit/Credit Account #2 Account Type Increase/Decrease Debit/Credit Bright, the owner, contributed furniture in exchange for capital. Account #1 Account Type Increase/Decrease Debit/Credit Account #2 Account Type Increase/Decrease Debit/Credit Purchased office furniture on account Account Account Type Increase/Decrease Debit/Credit Account #2 Account Type Increase/Decrease Debit/Credit Collected cash for services Account #1 Account Type Increase/Decrease Debit/Credit Account #2 Account Type Increase/Decrease Debit/Credit Accrued liability for utilities. Account #1 Account Type Increase/Decrease Debit/Credit...
1 a. Kacy Spade, owner, invested $11,500 cash in the company in exchange for common stock. b. The company purchased office supplies for $334 cash. c. The company purchased $6,360 of office equipment on credit. d. The company received $1,357 cash as fees for services provided to a customer. e. The company paid $6,360 cash to settle the payable for the office equipment purchased in transaction c. f. The company billed a customer $2,438 as fees for services provided. g....
a. Jenna Aracel, the owner, invested $235,000 cash, office equipment with a value of $5,200, and $64,000 of drafting equipment to launch the company in exchange for common stock b. The company purchased land worth $59,000 for an office by paying $8,500 cash and signing a long-term note payable for $50,500. c. The company purchased a portable building with $53,000 cash and moved it onto the land acquired in b. d. The company paid $3,500 cash for the premium on...
Sunland Company sells office equipment on July 31, 2022, for $22,080 cash. The office equipment originally cost $72,560 and as of January 1, 2022, had accumulated depreciation of $38,910. Depreciation for the first 7 months of 2022 is $4.980. Prepare the journal entries to (a) update depreciation to July 31, 2022, and (b) record the sale of the equipment. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No...
Crane Company sells office equipment on July 31, 2022, for $20,440 cash. The office equipment originally cost $82,640 and as of January 1, 2022, had accumulated depreciation of $38,770. Depreciation for the first 7 months of 2022 is $4,250. Prepare the journal entries to (a) update depreciation to July 31, 2022, and (b) record the sale of the equipment. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No...
Purchased office supplies on account. Account Name Account Type Increase/Decrease Debit/Credit I Collected cash for future services. Account Name Account Type Increase/Decrease Debit/Credit sactions as journal entries. Record debits first, then credits. Collected $6,000 čash for future services. Date Accounts and Explanation Debit Credit Nov. 3 Owner contributed $8,000 in furniture in exchange for common stock. Date Accounts and Explanation Debit Credit Nov. 4
Apr 1 2 5 Paid rent on office for month, 56,000. Purchased office supplies on account, $2,400 Paid insurance premiums, $5,000. 10 Received cash from clients on account, $52,700. 15 Purchased land for a future building site for $227,000 paying $27,000 in cash and giving a note payable for the remainder Paid creditors on account, $6,050 20 Returned a portion of the office supplies purchased on April 2, receiving full credit for their cost, $360 23 Paid advertising expense, S4,150....
I will give thumbs up for correct answers! Thank you!
Alteran Corporation purchased office equipment for $1.9 million at the beginning of 2019. The equipment is being depreciated over a 10-year life using the double-declining-balance method. The residual value is expected to be $800,000. At the beginning of 2021 (two years later), Alteran decided to change to the straight-line depreciation method for this equipment. Required: Prepare the journal entry to record depreciation for 2021. (If no entry is required for...
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