1. Accountign Equation | ||||||
Date | Assets | Liabilities | Stockholders’ Equity | |||
2-Jan | Cash | -$20,000.00 | Note Payable (long-term) | $180,000.00 | ||
Equipment | $200,000.00 | |||||
3-Jan | Equipment | $20,000.00 | Accounts Payable | $20,000.00 | ||
30-Jan | CAsh | -$20,000.00 | Accounts Payable | -$20,000.00 | ||
1-Feb | CAsh | -$600.00 | Repairs and Maintenance Expense | -$600.00 | ||
1-Mar | Cash | -$2,400.00 | ||||
Computer Software | $2,400.00 |
1.b. Journal Entries- Casting Crown Cosntruction | |||
Date | General journal | Dr. | Cr. |
2-Jan | Equipment | $200,000 | |
To cash | $20,000 | ||
To Bills payable | $180,000 | ||
To Record bulldozer purchased | |||
3-Jan | Equipment | $20,000 | |
To Account payable | $20,000 | ||
TO Record steel tracks replaced | |||
30-Jan | Account payable | $20,000 | |
To Bank | $20,000 | ||
To Record amount paid by cheque | |||
1-Feb | Repair & Maintainance Expense | $600 | |
To Bank | $600 | ||
To Record Repair & Maint Expense | |||
1-Mar | Computer software | $2,400 | |
To Cash | $2,400 | ||
(being right to use computer software acquired) |
2 & 3. Journal Entries- Casting Crown Cosntruction | |||
Date | General journal | Dr. | Cr. |
31-Dec | Depreciation Expense - Equipment | $88,000.00 | |
Accumulated Depreciation | $88,000.00 | ||
(220000/5*2) | |||
31-Dec | Amortisation Expense | $1,000.00 | |
Accmulated Amortisation | $1,000.00 | ||
( 2400/24 Month* 10 Month) |
Casting Crown Construction entered into the following transactions during a recent year: January 2 Purchased a...
Precision Construction entered into the following transactions during a recent year. January 2 Purchased a bulldozer for $290,000 by paying $40,000 cash and signing a $250,000 note due in five years. January 3 Replaced the steel tracks on the bulldozer at a cost of $40,000, purchased on account. The new steel tracks increase the bulldozer's operating efficiency. January 30 Wrote a check for the amount owed on account for the work completed on January 3. February 1 Repaired the leather...
Required information [The following information applies to the questions displayed below.] Precision Construction entered into the following transactions during a recent year January 2 Purchased a bulldozer for $268,000 by paying $29,000 cash and signing a $239,000 note due in five years. January 3 Replaced the steel tracks on the bulldozer at a cost of $29,000, purchased on account. The new steel tracks increase the bulldozer's operating efficiency January 30 wrote a check for the amount owed on account for...
Required information PA9-3 Analyzing and Recording Long-Lived Asset Transactions with Partial-Year Depreciation (LO 9-2, LO 9-3, LO 9-6] [The following information applies to the questions displayed below.) Precision Construction entered into the following transactions during a recent year. January 2 Purchased a bulldozer for $258,000 by paying $24,000 cash and signing a $234,000 note due in five years. January 3 Replaced the steel tracks on the bulldozer at a cost of $24,000, purchased on account. The new steel tracks increase...
Saved Required information PA9-3 Analyzing and Recording Long-Lived Asset Transactions with Partial-Year Depreciation (LO 9-2, LO 9-3, LO 9-6) [The following information applies to the questions displayed below.) Precision Construction entered into the following transactions during a recent year January 2 Purchased a bulldozer for $258,000 by paying $24,000 cash and signing a $234,000 note due in five years. January 3 Replaced the steel tracks on the bulldozer at a cost of $24,000, purchased on account. The new steel tracks...
January 2 Purchased a bulldozer for $250,000 by paying $20,000 cash and signing a $230,000 note due in five years.January 3 Replaced the steel tracks on the bulldozer at a cost of $20,000, purchased on account. The new steel tracks increase the bulldozer's operating efficiency.January 30 Wrote a check for the amount owed on account for the work completed on January 3. February 1 Repaired the leather seat on the bulldozer and wrote a check for the full $800 cost....
Required information [The following information applies to the questions displayed below) Precision Construction entered into the following transactions during a recent year January 2 Purchased bulldover for $284,000 by paying $37.000 cash and signing a $247,000 note due in five years January 3 Replaced the steelrak on the bulldone at a cost of $37.000, purchased on account. The new steel tracks increase the bulldozer's operating efficiency. January 30 wrote a check for the amount owed on account for the work...
General journal entry options: No Journal Entry Required Accounts Payable Accounts Receivable Accumulated Amortization Accumulated Depreciation—Buildings Accumulated Depreciation—Equipment Accumulated Depreciation—Vehicles Accumulated Other Comprehensive Income Additional Paid-In Capital, Common Stock Additional Paid-In Capital, Preferred Stock Additional Paid-In Capital, Treasury Stock Advertising Expense Allowance for Doubtful Accounts Amortization Expense Bad Debt Expense Bonds Payable Building Cash Cash Equivalents Cash Overage Cash Shortage Charitable Contributions Payable Common Stock Copyrights Cost of Goods Sold Deferred Revenue Delivery Expense Depreciation Expense Discount on Bonds Payable...
mework Help Seve Required information PA9-3 Analyzing and Recording Long-Lived Asset Transactions with Partial-Year Depreciation (LO 9-2, LO 9-3, LO 9-6] [The following information applies to the questions displayed below] Precision Construction entered into the following transactions during a recent year. January 2 Purchased a bulldozer for $252,000 by paying $21,000 cash and signing a $231,000 note due in five years. January 3 Replaced the steel tracks on the bulldozer at a cost of $21,000, purchased on account. The new...
Required information [The following information applies to the questions displayed below] Precision Construction entered into the following transactions during a recent year January 2 Purchased a bulldozer for $268,000 by paying $29,000 cash and signing a $239,000 note due in five years. January 3 Replaced the stoel tracks on the bulldozer at a cost of $29,000, purchased on account. The new steal tracks increase the bulldozer' operating efficiency. January 30 wrote a check for the amount owed on account for...
Need help with journal entry, Depreciation equipment, and amortization licensing rights. Required Information [The following information applies to the questions displayed below) Precision Construction entered into the following transactions during a recent year January 2 Purchased a bulldorer for $278,000 by paying 634,000 cash and igning a $244.000 note due in five years. January 3 Replaced the steel tracks on the bulldozer at a cost of $34,000. parchased on account. The new steel tracks increase the bulldozer's operating officiency: January...