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Question 5 Crane Well Services Ltd. purchased equipment for $910,000 on September...
Cullumber Well Services Ltd. purchased equipment for $887.000 on September 30, 2021. The equipment was purchased...
Cullumber Well Services Ltd. purchased equipment for $887.000 on September 30, 2021. The equipment was purchased with a $173.000 cash down payment and through the issue of a $714,000, 5-year, 6% mortgage note payable for the balance. The terms provide for the mortgage to be repaid in monthly blended payments of $13.804 starting on October 31. Record the first two instalment payments on October 31 and November 30 assuming that the terms provided for monthly fixed principal payments of $11.900,...
On September 30, 2017, Coldwater Corporation purchased equipment for $1,030,000. The equipment was purchased with a...
On September 30, 2017, Coldwater Corporation purchased equipment for $1,030,000. The equipment was purchased with a $80,000 down payment and a three-year, 4%, $950,000 bank loan for the balance. The terms provide for payment of the bank loan with quarterly fixed principal payments of $79,167, plus interest, starting on December 31. Coldwater has a November 30 year end and records adjusting entries annually. Record the purchase of equipment on September 30, 2017. (Round answers to the nearest whole dollar, e.g....
Problem 10-3A On September 30, 2017, Coldwater Corporation purchased equipment for $940,000. The equipment was purchased...
Problem 10-3A On September 30, 2017, Coldwater Corporation purchased equipment for $940,000. The equipment was purchased with a $100,000 down payment and a three-year, 5%, $840,000 bank loan for the balance. The terms provide for payment of the bank loan with quarterly fixed principal payments of $70,000, plus interest, starting on December 31. Coldwater has a November 30 year end and records adjusting entries annually. Record the purchase of equipment on September 30, 2017. (Round answers to the nearest whole...
Problem 10-3A On September 30, 2017, Coldwater Corporation purchased equipment for $940,000. The equipment was purchased...
Problem 10-3A On September 30, 2017, Coldwater Corporation purchased equipment for $940,000. The equipment was purchased with a $100,000 down payment and a three-year, 5%, $840,000 bank loan for the balance. The terms provide for payment of the bank loan with quarterly fixed principal payments of $70,000, plus interest, starting on December 31. Coldwater has a November 30 year end and records adjusting entries annually. Record the purchase of equipment on September 30, 2017. (Round answers to the nearest whole...
Problem 10-3A On September 30, 2017, Coldwater Corporation purchased equipment for $940,000. The equipment was purchased...
Problem 10-3A On September 30, 2017, Coldwater Corporation purchased equipment for $940,000. The equipment was purchased with a $100,000 down payment and a three-year, 5%, $840,000 bank loan for the balance. The terms provide for payment of the bank loan with quarterly fixed principal payments of $70,000, plus interest, starting on December 31. Coldwater has a November 30 year end and records adjusting entries annually. Record the purchase of equipment on September 30, 2017. (Round answers to the nearest whole...
Problem 10-3A On September 30, 2017 Coldwater Corporation purchased equipment for $1.030,000. The equipment was purchased...
Problem 10-3A On September 30, 2017 Coldwater Corporation purchased equipment for $1.030,000. The equipment was purchased with a $80,000 down payment and a three-year, 3%, $950,000 bank loan for the balance. The terms provide for payment of the bank loan with quarterly fixed principal payments of $79,167, plus interest, starting on December 31. Coldwater has a November 30 year end and records adjusting entries annually Record the purchase of equipment on September 30, 2017. (Hound answers to the nearest whole...
Problem 10-3A On September 30, 2017, Coldwater Corporation purchased equipment for $1,210,000. The equipment was purchased...
Problem 10-3A On September 30, 2017, Coldwater Corporation purchased equipment for $1,210,000. The equipment was purchased with a $130,000 down payment and a three-year, 4%, $1,080,000 bank loan for the balance. The terms provide for payment of the bank loan with quarterly fixed principal payments of $90,000, plus interest, starting on December 31. Coldwater has a November 30 year end and records adjusting entries annually. Record the purchase of equipment on September 30, 2017. (Round answers to the nearest whole...
Problem 10-3A On September 30, 2017, Coldwater Corporation purchased equipment for $1,030,000. The equipment was purchased...
Problem 10-3A On September 30, 2017, Coldwater Corporation purchased equipment for $1,030,000. The equipment was purchased with a $80,000 down payment and a three-year, 3%, 5950,000 bank loan for the balance. The terms provide for payment of the bank loan with quarterly fixed principal payments of $79,167, plus interest, starting on December 31. Coldwater has a November 30 year end and records adjusting entries annually. Record the purchase of equipment on September 30, 2017. (Round answers to the nearest whole...
Brief Exercise 9-10 a-b Crane Limited sells equipment on September 30, 2018, for $38,960 cash. The...
Brief Exercise 9-10 a-b Crane Limited sells equipment on September 30, 2018, for $38,960 cash. The equipment originally cost $138,320 when purchased on January 1, 2016. It has an estimated residual value of $4,040 and a useful life of five years. Depreciation was last recorded on December 31, 2017, the company's year end. Record debit side accounts first followed by credit side accounts. Prepare the journal entry to update depreciation using the straight-line method to September 30, 2018. (Credit account...
On September 30, 2017, Coldwater Corporation purchased equipment for $1,020,000. The equipment was purchased with a...
On September 30, 2017, Coldwater Corporation purchased equipment
for $1,020,000. The equipment was purchased with a $100,000 down
payment and a three-year, 4%, $920,000 bank loan for the balance.
The terms provide for payment of the bank loan with quarterly fixed
principal payments of $76,667, plus interest, starting on December
31. Coldwater has a November 30 year end and records adjusting
entries annually.
(I only need help with the boxes in red!) Thank u so much
Record the first two...
Cullumber Well Services Ltd. purchased equipment for $887.000 on September 30, 2021. The equipment was purchased with a $173.000 cash down payment and through the issue of a $714,000, 5-year, 6% mortgage note payable for the balance. The terms provide for the mortgage to be repaid in monthly blended payments of $13.804 starting on October 31. Record the first two instalment payments on October 31 and November 30 assuming that the terms provided for monthly fixed principal payments of $11.900,...
On September 30, 2017, Coldwater Corporation purchased equipment for $1,030,000. The equipment was purchased with a $80,000 down payment and a three-year, 4%, $950,000 bank loan for the balance. The terms provide for payment of the bank loan with quarterly fixed principal payments of $79,167, plus interest, starting on December 31. Coldwater has a November 30 year end and records adjusting entries annually. Record the purchase of equipment on September 30, 2017. (Round answers to the nearest whole dollar, e.g....
Problem 10-3A On September 30, 2017, Coldwater Corporation purchased equipment for $940,000. The equipment was purchased with a $100,000 down payment and a three-year, 5%, $840,000 bank loan for the balance. The terms provide for payment of the bank loan with quarterly fixed principal payments of $70,000, plus interest, starting on December 31. Coldwater has a November 30 year end and records adjusting entries annually. Record the purchase of equipment on September 30, 2017. (Round answers to the nearest whole...
Problem 10-3A On September 30, 2017, Coldwater Corporation purchased equipment for $940,000. The equipment was purchased with a $100,000 down payment and a three-year, 5%, $840,000 bank loan for the balance. The terms provide for payment of the bank loan with quarterly fixed principal payments of $70,000, plus interest, starting on December 31. Coldwater has a November 30 year end and records adjusting entries annually. Record the purchase of equipment on September 30, 2017. (Round answers to the nearest whole...
Problem 10-3A On September 30, 2017, Coldwater Corporation purchased equipment for $940,000. The equipment was purchased with a $100,000 down payment and a three-year, 5%, $840,000 bank loan for the balance. The terms provide for payment of the bank loan with quarterly fixed principal payments of $70,000, plus interest, starting on December 31. Coldwater has a November 30 year end and records adjusting entries annually. Record the purchase of equipment on September 30, 2017. (Round answers to the nearest whole...
Problem 10-3A On September 30, 2017 Coldwater Corporation purchased equipment for $1.030,000. The equipment was purchased with a $80,000 down payment and a three-year, 3%, $950,000 bank loan for the balance. The terms provide for payment of the bank loan with quarterly fixed principal payments of $79,167, plus interest, starting on December 31. Coldwater has a November 30 year end and records adjusting entries annually Record the purchase of equipment on September 30, 2017. (Hound answers to the nearest whole...
Problem 10-3A On September 30, 2017, Coldwater Corporation purchased equipment for $1,210,000. The equipment was purchased with a $130,000 down payment and a three-year, 4%, $1,080,000 bank loan for the balance. The terms provide for payment of the bank loan with quarterly fixed principal payments of $90,000, plus interest, starting on December 31. Coldwater has a November 30 year end and records adjusting entries annually. Record the purchase of equipment on September 30, 2017. (Round answers to the nearest whole...
Problem 10-3A On September 30, 2017, Coldwater Corporation purchased equipment for $1,030,000. The equipment was purchased with a $80,000 down payment and a three-year, 3%, 5950,000 bank loan for the balance. The terms provide for payment of the bank loan with quarterly fixed principal payments of $79,167, plus interest, starting on December 31. Coldwater has a November 30 year end and records adjusting entries annually. Record the purchase of equipment on September 30, 2017. (Round answers to the nearest whole...
Brief Exercise 9-10 a-b Crane Limited sells equipment on September 30, 2018, for $38,960 cash. The equipment originally cost $138,320 when purchased on January 1, 2016. It has an estimated residual value of $4,040 and a useful life of five years. Depreciation was last recorded on December 31, 2017, the company's year end. Record debit side accounts first followed by credit side accounts. Prepare the journal entry to update depreciation using the straight-line method to September 30, 2018. (Credit account...
On September 30, 2017, Coldwater Corporation purchased equipment
for $1,020,000. The equipment was purchased with a $100,000 down
payment and a three-year, 4%, $920,000 bank loan for the balance.
The terms provide for payment of the bank loan with quarterly fixed
principal payments of $76,667, plus interest, starting on December
31. Coldwater has a November 30 year end and records adjusting
entries annually.
(I only need help with the boxes in red!) Thank u so much
Record the first two...
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