Homework Answers
| Accumulated depreciation | 28,000 | |
| Loss on disposal | 1000 | |
| Cash | 1000 | |
| Machinery | 28,000 |
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On January 2. Dixie, Inc., pays a salvage company $1,000 to haul away a machine costing...
Required information kon/lend images Knowledge Check 01 On January 2, Dixie, Inc. pays a salvage company...
Required information kon/lend images Knowledge Check 01 On January 2, Dixie, Inc. pays a salvage company $1,000 to haul away a machine costing $28,000 with accumulated depreciation of $28,000 Complete the necessary journal entry by selecting the account names from the drop-down menus and entering the dollar amounts in the debit of credit columns View transaction list Journal entry worksheet 1 > On January 2, Dixie, Inc., pays a salvage company $1,000 to haul away a machine costing $28,000 with...
Knowledge Check 01 On January 1 Truesdale, Inc., purchased a piece of machinery for use in...
Knowledge Check 01 On January 1 Truesdale, Inc., purchased a piece of machinery for use in operations. The total acquisition cost was $33,000. The machine has an estimated useful life of 3 years and a salvage value of $3,000. Using the stralght-line method, the amount of depreciation that should be recorded during year 1, is approximately Knowledge Check 01 On January 2, Dixie, Inc., pays a salvage company $1,000 to haul away a machine costing $28,000 with accumulated depreciation of...
Check my work On January 2, Bering Co. disposes of a machine costing $53,700 with accumulated...
Check my work On January 2, Bering Co. disposes of a machine costing $53,700 with accumulated depreciation of $28,928. Prepare the entries to record the disposal under each separate situation. 1. The machine is sold for $20,776 cash 2. The machine Is traded in for a new machine having a $70,200 cash price. A $25,571 trade-in allowance is received, and the balance is paid in cash. Assume the asset exchange has commercial substance. 3. The machine is traded in for...
On January 2, Carlton, Inc., issued 100 shares of $10 par value common stock for cash...
On January 2, Carlton, Inc., issued 100 shares of $10 par value common stock for cash of $10 per share. Complete the necessary journal entry by selecting the account names from the drop-down menus and entering the dollar amounts in the debit or credit columns. View transaction list Journal entry worksheet On January 2, Carlton, Inc., issued 100 shares of $10 par value common stock for cash of $10 per share. Note: Enter debits before credits. Date General Jourmal Debit...
Knowledge Check 01 On December 29, 2020, Patel Products, Inc., sells a delivery van that cost $20.000. The equipmen...
Knowledge Check 01 On December 29, 2020, Patel Products, Inc., sells a delivery van that cost $20.000. The equipment had accumulated depreciation of $16,000 at December 31, 2019. Annual depreciation on this equipment is $2.000 computed using straight-line depreciation Complete the necessary journal entry to bring the accumulated depreciation up-to-date by selecting the acccount names from the drop- down menus and entering the dollar amounts in the debit or credit columns.
On Sept. Paddington Inc, issued 1.000 shares of $10 stated value common stock for cash of...
On
Sept. Paddington Inc, issued 1.000 shares of $10 stated value
common stock for cash of $10 per share Complete the necessary
journal entry by selecting the account names from the drop down
menus and entering the dollar amounts in the debitor credit columns
-43/16 14916 +20 634 77376 No-par stock is issued or not assigned a stato entire proceeds credited to a no-par stock ac Knowledge Check 01 On Sept. 1, Paddington, Inc., issued 1,000 shares of $10 stated...
On January 1, 2019, Providence, Inc., issues $1,000,000 of 10 percent, 5-year bonds at par value....
On January 1, 2019, Providence, Inc., issues $1,000,000 of 10 percent, 5-year bonds at par value. Complete the necessary journal entry by selecting the account names from the drop-down menus and entering the dollar amounts in the debitor credit columns View transaction list Journal entry worksheet On January 1, 2019, Providence, Inc., issues $1,000,000 of 10 percent, 5-year bonds at par value. Note: Enter debits before credits Date General Journal Debit Credit Jan 01
Knowledge Check 01 On January 1, 2019, Providence, Inc., Issues $1,000,000 of 10 percent, 5-year bonds...
Knowledge Check 01 On January 1, 2019, Providence, Inc., Issues $1,000,000 of 10 percent, 5-year bonds at par value. Complete the necessary journal entry by selecting the account names from the drop-down menus and entering the dollar amounts in the debit or credit columns. View transaction list Journal entry worksheet On January 1, 2019, Providence, Inc., Issues $1,000,000 of 10 percent, 5-year bonds at par value. Note: Enter debits before credits Date General Journal Debit Credit Jan 01
Required information Knowledge Check 01 On January 5, Barnaby, Inc., purchased a patent costing $100,000 with...
Required information Knowledge Check 01 On January 5, Barnaby, Inc., purchased a patent costing $100,000 with a useful life of 20 years. The company records its adjustin entries at the end of each year on December 31 Complete the necessary adjusting entry by selecting the account names from the drop-down menus and entering the dollar amou in the debitor credit columns View transaction list Journal entry worksheet < On January 5, Bamaby, Inc., purchased a patent costing $100,000 with a...
Onslow Co. purchased a used machine for $192,000 cash on January 2. On January 3, Onslow...
Onslow Co. purchased a used machine for $192,000 cash on January 2. On January 3, Onslow paid $8,000 to wire electricity to the machine and an additional $1,600 to secure it in place. The machine will be used for six years and have a $23,040 salvage value. Straight-line depreciation is used. On December 31, at the end of its fifth year in operations, it is disposed of. 3. Prepare journal entries to record the machine’s disposal under each separate situation:...
Required information kon/lend images Knowledge Check 01 On January 2, Dixie, Inc. pays a salvage company $1,000 to haul away a machine costing $28,000 with accumulated depreciation of $28,000 Complete the necessary journal entry by selecting the account names from the drop-down menus and entering the dollar amounts in the debit of credit columns View transaction list Journal entry worksheet 1 > On January 2, Dixie, Inc., pays a salvage company $1,000 to haul away a machine costing $28,000 with...
Knowledge Check 01 On January 1 Truesdale, Inc., purchased a piece of machinery for use in operations. The total acquisition cost was $33,000. The machine has an estimated useful life of 3 years and a salvage value of $3,000. Using the stralght-line method, the amount of depreciation that should be recorded during year 1, is approximately Knowledge Check 01 On January 2, Dixie, Inc., pays a salvage company $1,000 to haul away a machine costing $28,000 with accumulated depreciation of...
Check my work On January 2, Bering Co. disposes of a machine costing $53,700 with accumulated depreciation of $28,928. Prepare the entries to record the disposal under each separate situation. 1. The machine is sold for $20,776 cash 2. The machine Is traded in for a new machine having a $70,200 cash price. A $25,571 trade-in allowance is received, and the balance is paid in cash. Assume the asset exchange has commercial substance. 3. The machine is traded in for...
On January 2, Carlton, Inc., issued 100 shares of $10 par value common stock for cash of $10 per share. Complete the necessary journal entry by selecting the account names from the drop-down menus and entering the dollar amounts in the debit or credit columns. View transaction list Journal entry worksheet On January 2, Carlton, Inc., issued 100 shares of $10 par value common stock for cash of $10 per share. Note: Enter debits before credits. Date General Jourmal Debit...
Knowledge Check 01 On December 29, 2020, Patel Products, Inc., sells a delivery van that cost $20.000. The equipment had accumulated depreciation of $16,000 at December 31, 2019. Annual depreciation on this equipment is $2.000 computed using straight-line depreciation Complete the necessary journal entry to bring the accumulated depreciation up-to-date by selecting the acccount names from the drop- down menus and entering the dollar amounts in the debit or credit columns.
On
Sept. Paddington Inc, issued 1.000 shares of $10 stated value
common stock for cash of $10 per share Complete the necessary
journal entry by selecting the account names from the drop down
menus and entering the dollar amounts in the debitor credit columns
-43/16 14916 +20 634 77376 No-par stock is issued or not assigned a stato entire proceeds credited to a no-par stock ac Knowledge Check 01 On Sept. 1, Paddington, Inc., issued 1,000 shares of $10 stated...
On January 1, 2019, Providence, Inc., issues $1,000,000 of 10 percent, 5-year bonds at par value. Complete the necessary journal entry by selecting the account names from the drop-down menus and entering the dollar amounts in the debitor credit columns View transaction list Journal entry worksheet On January 1, 2019, Providence, Inc., issues $1,000,000 of 10 percent, 5-year bonds at par value. Note: Enter debits before credits Date General Journal Debit Credit Jan 01
Knowledge Check 01 On January 1, 2019, Providence, Inc., Issues $1,000,000 of 10 percent, 5-year bonds at par value. Complete the necessary journal entry by selecting the account names from the drop-down menus and entering the dollar amounts in the debit or credit columns. View transaction list Journal entry worksheet On January 1, 2019, Providence, Inc., Issues $1,000,000 of 10 percent, 5-year bonds at par value. Note: Enter debits before credits Date General Journal Debit Credit Jan 01
Required information Knowledge Check 01 On January 5, Barnaby, Inc., purchased a patent costing $100,000 with a useful life of 20 years. The company records its adjustin entries at the end of each year on December 31 Complete the necessary adjusting entry by selecting the account names from the drop-down menus and entering the dollar amou in the debitor credit columns View transaction list Journal entry worksheet < On January 5, Bamaby, Inc., purchased a patent costing $100,000 with a...
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