On January 2, 2017, Snug Clothing Consignments purchased showroom fixtures for $ 12 comma 000 cash,...
On January 2, 2017, Snug Clothing Consignments purchased showroom fixtures for $ 12 comma 000 cash, expecting the fixtures to remain in service for five years. Snug has depreciated the fixtures on a double-declining-balance basis, with zero residual value. On September 30 comma 2018, Snug sold the fixtures for $ 6 comma 200 cash. Record both depreciation expense for 2018 and sale of the fixtures on September 30, 2018. (Record debits first, then credits. Select the explanation on the last line of the journal entry table. Note that 2017 depreciation was recorded and posted in 2017.) Begin by recording the depreciation expense for January 1, 2018 through September 30, 2018. Date Accounts and Explanation Debit Credit Sep. 30 Depreciation Expense—Fixtures 2,160 Accumulated Depreciation—Fixtures 2,160 To record depreciation on fixtures. Before recording the sale of the fixtures, let's calculate any gain or loss on the sale of the fixtures. Market value of assets received $6,200 Less: Book value of asset disposed of Cost $12,000 Less: Accumulated Depreciation 7200 4800 Gain or (Loss) 1400
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On January 2, 2017, Snug Clothing Consignments purchased
showroom fixtures for $ 12 comma 000 cash,...
On January 2, 2017, Snug Clothing Consignments purchased showroom fixtures for $12,000 cash, expecting the fixtures...
On January 2, 2017, Snug Clothing Consignments purchased showroom fixtures for $12,000 cash, expecting the fixtures to remain in service for five years. Snug has depreciated the fixtures on a double-declining-balance basis, with zero residual value. On September 30, 2018, Snug sold the fixtures for $6,500 cash. Record both depreciation expense for 2018 and sale of the fixtures on September 30, 2018. (Record debits first, then credits. Select the explanation on the last line of the journal entry table. Note...
On January 2, 2017, Loved Clothing Consignments purchased showroom fixtures for $11,000 cash, expecting the fixtures...
On January 2, 2017, Loved Clothing Consignments purchased showroom fixtures for $11,000 cash, expecting the fixtures to remain in service for five years. Loved has depreciated the fixtures on a double-declining-balance basis, with zero residual value. On September 30,2018, Loved sold the fixtures for $5,500 cash. Record both depreciation expense for 2018 and sale of the fixtures on September 30,2018. (Record debits first, then credits. Select the explanation on the last line of the journal entry table. Note that 2017depreciation...
On January 2, 2017, Loved Clothing Consignments purchased showroom fixtures for $19,000 cash, expecting the fixtures...
On January 2, 2017, Loved Clothing Consignments purchased showroom fixtures for $19,000 cash, expecting the fixtures to remain in service for five years. Loved has depreciated the fixtures on a double-declining-balance basis, with zero residual value. On October 31, 2018, Loved sold the fixtures for $8,200 cash. Record both depreciation expense for 2018 and sale of the fixtures on October 31, 2018. (Record debits first, then credits. Select the explanation on the last line of the jounal entry table. Note...
in January 2, 2017 Shug Clothing Consignments purchased showroom Textures for 10 poucash, expecting the futures...
in January 2, 2017 Shug Clothing Consignments purchased showroom Textures for 10 poucash, expecting the futures tu ervice for five years. Snug has depreciated the futures on a double declining balance basis with zero residual value. On September 30, 2018. Snug sold the fixtures for 55.000 cash. Record both depreciation expense for 2018 and sale of the fixtures on September 30, 2018. (Record debits first, then credits. Select the explanation on the last line of the journal entry table. Note...
On January 2, 2017. Repeat Clothing Consignments purchased showroom fixtures for $11,000 cash, expecting the fixtures...
On January 2, 2017. Repeat Clothing Consignments purchased showroom fixtures for $11,000 cash, expecting the fixtures to remain in service for five years. Repeat has depreciated the fixtures on a double-declining balance basis with zero residual value. On August 31, 2018, Repeat sold the fixtures for $5,000 cash. Record both depreciation expense for 2018 and sale of the fixtures on August 31, 2018. (Record debits first, then credits. Select the explanation on the last line of the journal entry table....
On January 2,2017, Comfy Clothing Consignments ourchased showroom fixtures for $17,000 cash, expecting the fixtures to...
On
January 2,2017, Comfy Clothing Consignments ourchased showroom
fixtures for $17,000 cash, expecting the fixtures to remain in
service for five years. Comfy has depreciated the fixtures on the
double-declining-balance basis, with zero residual value. On
October 31,2018, Comfy sold the fixtures for $7,600 cash. Record
both depreciation for 2018 and sale of the fixtures on October
31,2018.
3,400 Oct 31 Depreciation Expense-Fixtures Accumulated Depreciation Fixtures 3,400 To record depreciation on fixtures. Before recording the sale of the fixtures, let's...
On January 2, 2017. Repeat Clothing Consignments purchased showroom futures for $11,000 cash, expecting the fixtures...
On January 2, 2017. Repeat Clothing Consignments purchased showroom futures for $11,000 cash, expecting the fixtures to remain in service for five years. Repeat has depreciated the fixtures on a double-declining balance basis, with zero residual value. On August 31, 2018, Repeat sold the futures for $5,000 cash Record both depreciation expense for 2018 and sale of the fixtures on August 31, 2018. (Record debits first, then credits. Select the explanation on the last line of the journal entry table....
On January 2, 2017 Repeat Cling Consignment purchased showroom futures for $11.000 expecting the futures to...
On January 2, 2017 Repeat Cling Consignment purchased showroom futures for $11.000 expecting the futures to remain in service for five years. Repeat has deprecated the fixtures on a double-declining-balance basis with zero residual value. On August 31, 2018, Repeat sold the fures for 55.000 cash. Record both depreciation expense for 2018 and sale of the fixtures on August 31, 2018. (Record debitis first, then credits. Select the explanation on the last ine of the journal entry table. Note that...
On January 2, 2017, Couture Ching Consigmore purchased howoon factures $12.000 cash, puting the fures to...
On January 2, 2017, Couture Ching Consigmore purchased howoon factures $12.000 cash, puting the fures to remain i n for the years Couture has deprecathers on a double-cigare basis with zero v e O d bor 31, 2018 Couture sold the futures for 55.000 or beth depreciation expense for 2018 and sale of the futures on October 31, 2018 Record deb t , the credits Select the p ain on the last line of the may be Nor d en...
thank you On January 2, 2016, Sweet Pet purchased fixtures for $41,700 cash, expecting the fixtures...
thank you
On January 2, 2016, Sweet Pet purchased fixtures for $41,700 cash, expecting the fixtures to remain in service for seven years. Sweet Pet has depreciated the fixtures on a straight-line basis, with $6,000 residual value On April 30, 2018, Sweet Pet sold the fixtures for $23,300 cash Record both depreciation expense for 2018 and sale of the fixtures on April 30, 2018. (Assume the modified half-month convention is used. Record debits first, then credits. Select the explanation on...
On January 2, 2017, Snug Clothing Consignments purchased showroom fixtures for $12,000 cash, expecting the fixtures to remain in service for five years. Snug has depreciated the fixtures on a double-declining-balance basis, with zero residual value. On September 30, 2018, Snug sold the fixtures for $6,500 cash. Record both depreciation expense for 2018 and sale of the fixtures on September 30, 2018. (Record debits first, then credits. Select the explanation on the last line of the journal entry table. Note...
On January 2, 2017, Loved Clothing Consignments purchased showroom fixtures for $19,000 cash, expecting the fixtures to remain in service for five years. Loved has depreciated the fixtures on a double-declining-balance basis, with zero residual value. On October 31, 2018, Loved sold the fixtures for $8,200 cash. Record both depreciation expense for 2018 and sale of the fixtures on October 31, 2018. (Record debits first, then credits. Select the explanation on the last line of the jounal entry table. Note...
in January 2, 2017 Shug Clothing Consignments purchased showroom Textures for 10 poucash, expecting the futures tu ervice for five years. Snug has depreciated the futures on a double declining balance basis with zero residual value. On September 30, 2018. Snug sold the fixtures for 55.000 cash. Record both depreciation expense for 2018 and sale of the fixtures on September 30, 2018. (Record debits first, then credits. Select the explanation on the last line of the journal entry table. Note...
On January 2, 2017. Repeat Clothing Consignments purchased showroom fixtures for $11,000 cash, expecting the fixtures to remain in service for five years. Repeat has depreciated the fixtures on a double-declining balance basis with zero residual value. On August 31, 2018, Repeat sold the fixtures for $5,000 cash. Record both depreciation expense for 2018 and sale of the fixtures on August 31, 2018. (Record debits first, then credits. Select the explanation on the last line of the journal entry table....
On
January 2,2017, Comfy Clothing Consignments ourchased showroom
fixtures for $17,000 cash, expecting the fixtures to remain in
service for five years. Comfy has depreciated the fixtures on the
double-declining-balance basis, with zero residual value. On
October 31,2018, Comfy sold the fixtures for $7,600 cash. Record
both depreciation for 2018 and sale of the fixtures on October
31,2018.
3,400 Oct 31 Depreciation Expense-Fixtures Accumulated Depreciation Fixtures 3,400 To record depreciation on fixtures. Before recording the sale of the fixtures, let's...
On January 2, 2017. Repeat Clothing Consignments purchased showroom futures for $11,000 cash, expecting the fixtures to remain in service for five years. Repeat has depreciated the fixtures on a double-declining balance basis, with zero residual value. On August 31, 2018, Repeat sold the futures for $5,000 cash Record both depreciation expense for 2018 and sale of the fixtures on August 31, 2018. (Record debits first, then credits. Select the explanation on the last line of the journal entry table....
On January 2, 2017 Repeat Cling Consignment purchased showroom futures for $11.000 expecting the futures to remain in service for five years. Repeat has deprecated the fixtures on a double-declining-balance basis with zero residual value. On August 31, 2018, Repeat sold the fures for 55.000 cash. Record both depreciation expense for 2018 and sale of the fixtures on August 31, 2018. (Record debitis first, then credits. Select the explanation on the last ine of the journal entry table. Note that...
On January 2, 2017, Couture Ching Consigmore purchased howoon factures $12.000 cash, puting the fures to remain i n for the years Couture has deprecathers on a double-cigare basis with zero v e O d bor 31, 2018 Couture sold the futures for 55.000 or beth depreciation expense for 2018 and sale of the futures on October 31, 2018 Record deb t , the credits Select the p ain on the last line of the may be Nor d en...
thank you
On January 2, 2016, Sweet Pet purchased fixtures for $41,700 cash, expecting the fixtures to remain in service for seven years. Sweet Pet has depreciated the fixtures on a straight-line basis, with $6,000 residual value On April 30, 2018, Sweet Pet sold the fixtures for $23,300 cash Record both depreciation expense for 2018 and sale of the fixtures on April 30, 2018. (Assume the modified half-month convention is used. Record debits first, then credits. Select the explanation on...
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