journal entries recorded for the requirement 1-b , calculation of amortization and depreciation in requirement 2 are precisely true . so now , requirement 3 , journal entries to record the depreciation and amalgamation
Journal Entries For Recording Depreciation And Amortisation in the Books of Acounts
NO |
DATE | GENERAL JOURNAL | DEBIT | CREDIT |
---|---|---|---|---|
1 | March 31st | Dr Depreciation Expense a/c | 32100 | |
Cr To Accumulated Depreciation a/c | 32100 | |||
2 | March 31 st | Dr Profit and Loss a/c | 32100 | |
Cr To Depreciation Expense a/c | 32100 | |||
3 | March 31 st | Dr Amortization Expense a/c | 575 | |
Cr To Accumulated Amortization a/c | 575 | |||
4 | March 31 st | Dr Profit and Loss a/c | 575 | |
Cr To Amortization Expense a/c | 575 | |||
Required information [The following information applies to the questions displayed below) Precision Construction entered into the...
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...
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...
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...
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...
Required Informstion [The following infometion applies to the questions displayed below Precialon Construction entered Into the following transactions during arecent year z Parhad alldazar Car $274, 000 Eypying 32,000 aranry and a1ning 5242,000 nats da in csTe yeara.. 3 Raplacad the tl trcka an thalldazar t cat a 32,000, arh atl trks inera the alldasar's parnting ieiancy nt Th n anasry an Jarry 30 at heck Car th mant aad an ant Car th wark cmplated an Jamaary 3 Tabrary...
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...
Casting Crown Construction entered into the following transactions during a recent year: January 2 Purchased a bulldozer for $200,000 by paying $20,000 cash and signing a $180,000 note. January 3 Replaced the steel tracks on the bulldozer at a cost of $20,000, purchased on account. January 30 Wrote a cheque for the amount owed on account for the work completed on January 3. February 1 Replaced the seat on the bulldozer and wrote a cheque for the full $600 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 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...
Required information (The following information applies to the questions displayed below.) Drs. Glenn Feltham and David Ambrose began operations of their physical therapy clinic, called Northland Physical Therapy, on January 1, 2017. The annual reporting period ends December 31. The trial balance on January 1, 2018, was as follows: Debit Credit - Account Titles Cash Accounts Receivable Supplies Equipment Accumulated Depreciation Software Accumulated Amortization Accounts Payable Notes Payable (short-term) Salaries and Wages Payable Interest Payable Income Taxes Payable Deferred Revenue...