For each separate case, record an adjusting entry (if necessary). a. Barga Company purchases $20,000 of...
For each separate case, record an adjusting entry (if necessary). a. Barga Company purchases $21,000 of equipment on January 1. The equipment is expected to last five years and be worth $2,200 at the end of that time. b. Welch Company purchases $10,100 of land on January 1. The land is expected to last forever. Prepare the entries to record one year's depreciation expense of $3,760 for the equipment and what depreciation adjustment, if any, should be made with respect...
For each separate case, record an adjusting entry (if necessary). a. Barga Company purchases $36,000 of equipment on January 1. The equipment is expected to last five years and be worth $5,200 at the end of that time. b. Welch Company purchases $11,600 of land on January 1. The land is expected to last forever. Prepare the entries to record one year's depreciation expense of $6,160 for the equipment and what depreciation adjustment, if any, should be made with respect...
For each separate case, record an adjusting entry (if necessary). 01:30 a. Barga Company purchases $33.000 of equipment on January 1. The equipment is expected to last five years and be worth $4.600 at the end of that time. b. Welch Company purchases $11,300 of land on January 1. The land is expected to last forever. Prepare the entries to record one year's depreciation expense of $5.680 for the equipment and what depreciation adjustment, if any. should be made with...
a. Barga Company purchases $30,000 of equipment on January 1, 2017. The equipment is expected to last five years and be worth $4,000 at the end of that time b. Welch Company purchases $11,000 of land on January 1, 2017. The land is expected to last indefinitely. Prepare the entries to record one year's depreciation expense of $5,200 for the equipment and what depreciation adjustment, if any should be made with respect to the Land account as of December 31,...
a. Barga Company purchases $31,000 of equipment on January 1, 2017. The equipment is expected to last five years and be worth $4,200 at the end of that time. b. Welch Company purchases $11,100 of land on January 1, 2017. The land is expected to last indefinitely Prepare the entries to record one year's depreciation expense of $5,360 for the equipment and what depreciation adjustment, if any, should be made with respect to the Land account as of December 31,...
a. Barga Company purchases $31,000 of equipment on January 1, 2017. The equipment is expected to last five years and be worth $4,200 at the end of that time. b. Welch Company purchases $11,100 of land on January 1, 2017. The land is expected to last indefinitely. Prepare the entries to record one year's depreciation expense of $5,360 for the equipment and what depreciation adjustment, if any, should be made with respect to the Land account as of December 31,...
n QS 3-9 Adjusting for depreciation LO P1 Barga Company purchases $20,000 of equipment on January 1. The equipment is expected to last five years and be worth $2.000 at the end of that time. Prepare the entry to record one year's depreciation expense for the equipment as of December 31. (if no entry is required for a transaction event, select "No journal entry required in the first account field.) ped View transaction list Journal entry worksheet Record the depreciation...
Upg 2020 NUU 211 0... Chapter 3 Quiz Homework Favorit Saved Help Save & Exit Submit QS 3-7 Adjusting prepaid expenses LO P1 Check my work a. On July 1, 2017, Lopez Company paid $2,900 for six months of insurance coverage. No adjustments have been made to the Prepaid Insurance account, and it is now December 31, 2017 b. Zim Company has a Supplies account balance of $8,400 on January 1, 2017. During 2017, it purchased $3,700 of supplies. As...
For each separate case, record the necessary adjusting entry. a. On July 1, Lopez Company paid $2,200 for six months of insurance coverage. No adjustments have been made to the Prepaid Insurance account, and it is now December 31. b. Zim Company has a Supplies account balance of $7.000 at the beginning of the year. During the year, it purchased $3,000 of supplies. As of December 31, a physical count of supplies shows $1,300 of supplies available. points Prepare the...
For each separate case, record the necessary adjusting entry a. On July 1. Lopez Company paid $1.600 for six months of insurance coverage. No adjustments have been made to the Prepard Insurance account, and it is now December 31. b. Zim Company has a Supplies account balance of $5.800 at the beginning of the year. During the year, it purchased $2.400 of supplies. As of December 31, a physical count of supplies shows $1,000 of supplies available Prepare the year-end...