pleasedo the journal entry for the following questions:
Historical |
Accumulated |
Remaining |
|
Asset |
Cost |
Depreciation |
Life |
Land |
$ 251,450 |
$ - |
- |
Sales Building 1 |
468,000 |
280,800 |
8 |
Sales Building 2 |
404,000 |
181,800 |
11 |
Sales Building 3 |
445,000 |
133,500 |
14 |
Administration Building |
156,000 |
39,000 |
15 |
Total |
$1,724,450 |
$ 635,100 |
(Note:-Since it is not mention whether all parts of the question need to be answered. so as per HomeworkLib policy compulsory required four parts have been answered and additionally has been answered)
S. No | Particulars | Debit | Credit |
A. | Cash | $ 3,17,250 | |
Accounts Receivable | $ 17,97,750 | ||
Sales | $ 21,15,000 | ||
Cash | $ 11,30,000 | ||
Accounts Receivable | $ 11,30,000 | ||
B. | Bad Debts | $ 4,900 | |
Accounts Receivable | $ 4,900 | ||
Accounts Receivable | $ 1,000 | ||
Bad Debts | $ 1,000 | ||
Cash | $ 1,000 | ||
Accounts Receivable | $ 1,000 | ||
C. | Allowance for Doubtful Debts | $ 1,79,775 | |
Accounts Receivable | $ 1,79,775 | ||
D. | Purchase | $ 11,00,000 | |
Accounts Payable | $ 11,00,000 | ||
Accounts Payable | $ 10,07,000 | ||
Cash | $ 10,07,000 | ||
E. | Amount Note Payable not provided | ||
Interest | Not Provided | ||
Cash | Not Provided | ||
F. | Interest Receivable | $ 6,000 | |
Interest on 4% Bond | $ 6,000 | ||
G. | Administrative Building | $ 27,000 | |
Cash | $ 27,000 | ||
Maintenance | $ 7,000 | ||
Cash | $ 7,000 | ||
H. | Insurance Expenses | $ 18,000 | |
Prepaid Insurance | $ 18,000 | ||
Cash | $ 36,000 |
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