Homework Answers
|
Date |
Account titles and explanation |
Debit |
Credit |
|
April 1, 2018 |
Depreciation Expense (47960*3/12) |
11990 |
|
|
Accumulated Depreciation—Machinery |
11990 |
||
|
(to record depreciation) |
|||
|
April 1, 2018 |
Accumulated Depreciation—Machinery (119900+11990) |
131890 |
|
|
Machinery |
281800 |
||
|
Loss on Disposal of Machinery (balancing figure) |
12590 |
||
|
Machinery |
239800 |
||
|
Cash ($281800-95320) |
186480 |
||
|
(to record exchange of machineries) |
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Exercise 134 Prepare all entries that are necessary t Apeil 1, 2018.(Credit account titles are autommatically...
Brief Exercise 9-7 Prepare journal entries to record these transactions. (Credit account titles are automatically indented...
Brief Exercise 9-7 Prepare journal entries to record these transactions. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter for the amounts.) (a) (b) Blossom Company retires its delivery equipment, which cost $50,070. Accumulated depreciation is also $50,070 on this delivery equipment. No salvage value is received. Assume the same information as in part(a), except that accumulated depreciation for the equipment...
Prepare the necessary correcting entry for each of the following. (Credit account titles are automatically indented...
Prepare the necessary
correcting entry for each of the following. (Credit account titles
are automatically indented when the amount is entered. Do not
indent manually.) a. A payment on account of $840 was debited to
Accounts Payable $480 and credited to Cash $480. b. The collection
of Accounts Receivable of $680 was recorded as a debit to Cash $680
and a credit to Service Revenue $680.
Question 6 Prepare the necessary correcting entry for each of the following. (Credit account...
Brief Exercise 9-7 Prepare journal entries to record these transactions. (Credit account titles are automatically indented...
Brief Exercise 9-7 Prepare journal entries to record these transactions. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) (a) Sheridan Company retires its delivery equipment, which cost $49,970. Accumulated depreciation is also $49,970 on this delivery equipment. No salvage value is (b) Assume the same information as in part (a), except that accumulated depreciation for the...
CALCULATOR FULL SCREEN PRINTER VERSION BACK NEX Exercise 192 Prepare the necessary closing entries based on...
CALCULATOR FULL SCREEN PRINTER VERSION BACK NEX Exercise 192 Prepare the necessary closing entries based on the following selected accounts. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.) $10,000 6,000 Accumulated Depreciation Depreciation Expense Owner's Capital Owner's Drawings Salaries and Wages Expense Service Revenue 20,000 9,000 19,000 40,000 Account Titles and Explanation Debit Credit (To close revenue account) (To close revenue account) (To close expense accont) (To close net income/loss) (To close owner's...
Prepare any adjusting entries necessary as a result of the bank reconciliation. (Credit account titles are...
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CALCULATOR Brief Exercise 8-6 Consider these transactions: (Credit account titles are automatically indented whe...
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Prepare the journal entry to record the accrual of interest on December 31. (Credit account titles...
Prepare the journal entry to record the accrual of interest on December 31. (Credit account titles are automatically Indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Dec. 31 Cash Bonds Payable
Prepare journal entries to record these transactions. (Credit account titles are automatically indented when amount is...
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CALCULATOR PRINTER VERSION BA Exercise 10-1 Kelly Jones and Tami Crawford borrowed $13,800 on a 7-month, 10% note from Gem State Bank to open their business, JC's Coffee House. The money was borrow June 1, 2017, and the note matures January 1, 2018 Prepare the entry to record the receipt of the funds from the loan. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit June 1 SNOW...
Brief Exercise 10-08 Skysong, Inc. issues $256,000, 10-year, 7% bonds at 98. Prepare the journal entry...
Brief Exercise 10-08 Skysong, Inc. issues $256,000, 10-year, 7% bonds at 98. Prepare the journal entry to record the sale of these bonds on March 1, 2022. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit Click if you would like to Show Work for this question: Open Show Work Concord Corporation issued 2,700 6%, 5-year, $1,000 bonds dated January 1, 2022, at face value. Interest is paid...
Brief Exercise 9-7 Prepare journal entries to record these transactions. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter for the amounts.) (a) (b) Blossom Company retires its delivery equipment, which cost $50,070. Accumulated depreciation is also $50,070 on this delivery equipment. No salvage value is received. Assume the same information as in part(a), except that accumulated depreciation for the equipment...
Prepare the necessary
correcting entry for each of the following. (Credit account titles
are automatically indented when the amount is entered. Do not
indent manually.) a. A payment on account of $840 was debited to
Accounts Payable $480 and credited to Cash $480. b. The collection
of Accounts Receivable of $680 was recorded as a debit to Cash $680
and a credit to Service Revenue $680.
Question 6 Prepare the necessary correcting entry for each of the following. (Credit account...
Brief Exercise 9-7 Prepare journal entries to record these transactions. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) (a) Sheridan Company retires its delivery equipment, which cost $49,970. Accumulated depreciation is also $49,970 on this delivery equipment. No salvage value is (b) Assume the same information as in part (a), except that accumulated depreciation for the...
CALCULATOR FULL SCREEN PRINTER VERSION BACK NEX Exercise 192 Prepare the necessary closing entries based on the following selected accounts. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.) $10,000 6,000 Accumulated Depreciation Depreciation Expense Owner's Capital Owner's Drawings Salaries and Wages Expense Service Revenue 20,000 9,000 19,000 40,000 Account Titles and Explanation Debit Credit (To close revenue account) (To close revenue account) (To close expense accont) (To close net income/loss) (To close owner's...
Prepare any adjusting entries necessary as a result of the bank reconciliation. (Credit account titles are automatically indented when the amount is entered. Do not indent many Date Account Titles and Explanation Debit Credit Nov. 30 (To correct error in recording) (To record collection of note receivable and interest by the bank) (To record check printing charges) The Oriole Boat Company's bank statement for the month of November showed a balance per bank of $8.600. The company's Cash account in...
CALCULATOR Brief Exercise 8-6 Consider these transactions: (Credit account titles are automatically indented when amount is entered. Do not indent manually.) (a) Grouper Corp. accepted a Visa card in payment of a $2,200 lunch bill. The bank charges a 3% fee. What entry should Grouper Corp. make? (b) Blue Spruce Corp. sold its accounts receivable of $66,900. What entry should Blue Spruce Corp. make, given a service charge of 3% on the amount of receivables sold? No. Account Titles and...
Prepare the journal entry to record the accrual of interest on December 31. (Credit account titles are automatically Indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Dec. 31 Cash Bonds Payable
Prepare journal entries to record these transactions. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account tities and enter O for the amounts.) (a) received (b) No. Account Titles and Explanation Cullumber Company retires its delivery equipment, which cost $54,410. Accumulated depreciation is also $54,410 on this delivery equipment. No salvage value is Assume the same information as in part (a), except that accumulated...
CALCULATOR PRINTER VERSION BA Exercise 10-1 Kelly Jones and Tami Crawford borrowed $13,800 on a 7-month, 10% note from Gem State Bank to open their business, JC's Coffee House. The money was borrow June 1, 2017, and the note matures January 1, 2018 Prepare the entry to record the receipt of the funds from the loan. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit June 1 SNOW...
Brief Exercise 10-08 Skysong, Inc. issues $256,000, 10-year, 7% bonds at 98. Prepare the journal entry to record the sale of these bonds on March 1, 2022. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit Click if you would like to Show Work for this question: Open Show Work Concord Corporation issued 2,700 6%, 5-year, $1,000 bonds dated January 1, 2022, at face value. Interest is paid...
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