Answer Journal Entry
Date
Accounts
Debit
Credit
Jan 1 Cash
$239,500
Accumulated Depreciation $72,500
($145,000 * 50%)
Gain on sale of assets (BF) $12,000
Plant and Equipment $300,000
($600,000 * 50%)
Assume that Hardy Corporation's comparative balance sheet reported these amounts: (Click on the icon to view...
Assume that Hart corporation's comparative balance sheet reported these amounts: December 31 2017 2016 Plant and Equipment..................................... $625,000 $609,000 Less: Accumulated Depreciation................... $155,000 $135,000 Net Plant and Equipment............................... $470,000 $474,000 1. Assume that on January 1, 2018, Hart sold one-tenth of its plant and equipment for 56,000 cash. Journalize this transaction for Hart
Rossi Lake Resort reported the following on its balance sheet at December 31, 2018: (Click the icon to view the partial balance sheet.) (Click the icon to view additional information.) Requirements 1. Journalize Rossi Lake Resort's plant asset purchase and depreciation transactions for 2019. 2. Report plant assets on the December 31, 2019, balance sheet. Requirement 1. Journalize Rossi Lake Resort's plant asset purchase and depreciation transactions for 2019. (Record debits first, then credits. Exclude explanations from any journal entries.)...
The 2018 Income statement and comparative balance sheet of All Wired, Inc. follow (Click the icon to view the additional (Click the icon to view the income statement) Read the requirements (Click the icon to view the comparative balance sheet.) Requirement 1. Prepare the 2018 statement of cash flows, formatting operating activities by the indirect method. Use a minus signor parentheses for amounts that empty: do nol select a label or enter a zero.) Data Table Complete the statement one...
A (Click the icon to view the additional information.) The 2018 income statement and comparative balance sheet of All Wired, Inc. follow: (Click the icon to view the income statement.) E: (Click the icon to view the comparative balance sheet.) Read the requirements. Requirement 1. Prepare the 2018 statement of cash flows, formatting operating activities by the indirect method. (Use a minus sign or parentheses for amounts that result in a decrease in cash. If a box is not used...
The following transactions of Seattle Pharmacies occurred during 2017 and 2018: (Click the icon to view the transactions.) Journalize the transactions in Seattle's general journal. Explanations are not required. Round to the nearest dollar. (Record debits first, then credits. Exclude explanations from journal entries.) Jan. 9, 2017: Purchased computer equipment at a cost of $9,000, signing a six-month, 8% note payable for that amount. Date Accounts Debit Credit Jan. 9 * More Info 2017 Jan. 9Purchased computer equipment at a...
(Click the icon to view the transactions.) $ 19,331,600 2,990,000 1,087,000 43,200 3,000,000 $ Cash Accounts Receivable Supplies Prepaid Insurance Equipment Accounts Payable Unearned Service Revenue Notes Payable Common Stock Dividends Service Revenue Wage Expense Utilities Expense Selling Expense Administrative Expense Repairs Expense Interest Expense 930,000 132,400 970,000 21,600,000 45,000 3,680,000 500,400 96 100 45,100 130,000 37,000 7,000 Requirement d. Journalize and post adjusting entries to t-accounts. Begin by preparing the adjusting journal entries (AJES). (Record debits first, then credits....
June transactions are summarized as follows: (Click the icon to view the transactions.) School Stars produces stars for elementary teachers to reward their students. School Stars' trial balance on June 1 follows: (Click the icon to view the trial balance.) June 1 balances in the subsidiary ledgers were as follows: (Click the icon to view the balances.) Read the requirements. Requirement 1. Journalize the transactions for the company. (Record debits first, then credits. Exclude explanations from any journal entries.) a....
During 2018, Zora Company completed the following transactions: i (Click the icon to view transactions.) Record the transactions in the joumal of Zora Company. (Record debits first, then credits Select the explanation on the last line of the journal entry table.) Jan. 1: Traded in old office equipment with book value of $60,000 (cost of $129,000 and accumulated depreciation of $69,000) for new equipment Zora also paid $60,000 in cash. Fair value of new equipment is $130,000. Assume the exchange...
Journalize the following transactions for Sleek's Furniture. Explanations are not required. (Click the icon to view the transactions.) (Record debits first, then credits. Exclude explanations from any journal entries.) a. Incurred and paid Web site expenses, $2,100. b. Incurred manufacturing wages of $14,000, 65% of which was direct labor and 35% of which was indirect labor. c. Purchased raw materials on account, $20,000. d. Used in production: direct materials, $8,000; indirect materials, $2,500. e. Recorded manufacturing overhead: depreciation on plant,...
Record the following process costing transactions in the general joumal: (Click the icon to view the transactions.) a. Record the purchase of raw materials on account, $9,800. (Record debits first, then credits. Exclude explanations from any journal entries.) Journal Entry Accounts Debit Credit Date More info b. ACDOU Payable Accumulated Depreciation Plant Cash Finished Goods Inventory Manufacturing Overhead Prepaid Insurance Plant Property Taxes Payable Plant Raw Materials Inwentory Ulities Payable Wages Payable Work in Process Inventory Assembly Work in Process...