A | Accumulated Depreciation | 24,900 | |
Loss on disposal | 29,200 | ||
Equipment | 54,100 | ||
B | Cash | 36,800 | |
Accumulated Depreciation | 24,900 | ||
Gain on sale of equipment | 7,600 | ||
Equipment | 54,100 | ||
C | Cash | 18,100 | |
Accumulated Depreciation | 24,900 | ||
Loss on sale of equipment | 11,100 | ||
Equipment |
54,100 |
A little help here. estructure.com/course/9534/signments/12932 module stem id-234200 < Prev Question 1 View Policies Current Attempt...
Policies Current Attempt in Progress Weekly Presented below is information related to Sheridan Company, owned by D. Flamont, for the month of January 2021. Ending inventory per perpetual records$22,600 Insurance expense$12,300 Ending inventory actually on hand18,300Rent expense20,200Cost of goods sold209,000Salaries expense54,500Freight out7,300Sales discounts10,400Sales returns and allowances12,600Sales379,000Prepare the necessary adjusting entry for inventory. (Credit acount 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 for...
Question 1 View Policies Current Attempt in Progress This information relates to Skysong Co. 1. On April 5, purchased merchandise from Sheridan Company for $27,600, terms 3/10,n/30. 2. On April 6, paid freight costs of $770 on merchandise purchased from Sheridan. 3. On April 7, purchased equipment on account for $34,300. 4. On April 8, returned $5,300 of April 5 merchandise to Sheridan Company. 5. On April 15, paid the amount due to Sheridan Company in full. (a) Prepare the...
Question 1 of 2 ./15 E View Policies Current Attempt in Progress On January 6, Bramble Corp. sells merchandise on account to Harley Inc. for 58,100, terms 3/10,130. On January 16, Harley pays the amount due Prepare the entries on Bramble Corp's books to record the sale and related collection (Omit cost of goods sold entries) (Credit account titles are automatically Indented when amount is entered. Do not indent vonually. Record journal entries in the order presented in the problem)...
Send to Gradebook < Prev Next > 0.72/1 Question 2 View Policies Show Attempt History Current Attempt in Progress Ikerd Company applies manufacturing overhead to jobs on the basis of machine hours used. Overhead costs are expected to total $326,772 for the year, and machine usage is estimated at 125,200 hours. For the year, $363,320 of overhead costs are incurred and 132,000 hours are used. ✓ Your answer is correct. Compute the manufacturing overhead rate for the year. (Round answer...
Question 9 --/1 View Policies Current Attempt in Progress In 2020, Shamrock Corporation discovered that equipment purchased on January 1, 2018, for $48,000 was expensed at that time. The equipment should have been depreciated over 5 years, with no salvage value. The effective tax rate is 30%. Shamrock uses straight-line depreciation. Prepare Shamrock's 2020 journal entry to correct the error. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select...
Question 6 -/20 View Policies Current Attempt in Progress Presented here are selected transactions for Blossom Limited for 2018. Blossom uses straight-line depreciation and records adjusting entries annually. Sold a delivery truck for $18,360 cash. The truck cost $67,930 when it was purchased on January 1, 2015, and was depreciated based on a four-year useful life with a $6,49O residual value. Jan. 1 Sept. 1 Sold computers that were purchased on January 1,2016. They cost $10,161 and had a useful...
Question 6 -/20 View Policies Current Attempt in Progress Presented here are selected transactions for Blossom Limited for 2018. Blossom uses straight-line depreciation and records adjusting entries annually. Sold a delivery truck for $18,360 cash. The truck cost $67,930 when it was purchased on January 1, 2015, and was depreciated based on a four-year useful life with a $6,490 residual value. Jan. 1 Sept. 1 Sold computers that were purchased on January 1, 2016. They cost $10,161 and had a...
please help with this accounting question!
Question 4 Updates View Policies Current Attempt in Progress ences Record the following transactions on the books of Sunland Colomit cost of goods sold entries) (Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.) Rus support a) On July 1. Sunland Co. sold merchandise on account to Stacey Inc. for $22,180, terms 4/10, 1/30 On July & Stacey Inc....
please help with this accounting question!
Question 11 View Policies Current Attempt in Progress On March 3, Oriole Company sells $736,600 of its receivables to Western Factors Inc. Western Factors Inc. assesses a service charge of 4% of the amount of receivables sold Prepare the entry on Oriole Company books to record the sale of the receivables. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Mar. 3...
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Send to Gradebook < Prev Next > Question 1 --/1 View Policies Current Attempt in Progress The following transactions involving intangible assets of Minton Corporation occurred on or near December 31, 2017. 1. Minton paid Grand Company $400,000 for the exclusive right to market a particular product, using the Grand name and logo in promotional material. The franchise runs for as long as Minton is in business. 2. Minton spent $600,000 developing a new manufacturing process. It...