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and has been depreciated $24,000 E9-7, Journalize transactions related to disposals of plant assets. Wang Co. has deliv...
E9.9 (LO 3), AP Thieu Co. has delivery equipment that cost $50,000 and has been depreciated...
E9.9 (LO
3), AP Thieu Co. has delivery
equipment that cost $50,000 and has been depreciated $24,000.
Journalize transactions related to disposals of plant
assets.
Instructions
Record entries for the disposal under the following
assumptions.
a. It was scrapped as having no value.
b. It was sold for $37,000.
c. It was sold for $20,000.
E9.12 (LO
1,
2, 3),
AN Shown below are the T-accounts relating to equipment
that was purchased for cash by a company on the first...
Sarasota Co. has equipment that cost $75,700 and that has been depreciated $49,800. Record the disposal...
Sarasota Co. has equipment that cost $75,700 and that has been
depreciated $49,800.
Record the disposal under the following assumptions.
(a)
It was scrapped as having no value.
(b)
It was sold for $22,200.
(c)
It was sold for $27,200.
(Credit account titles are automatically indented
when amount is entered. Do not indent manually. If no entry is
required, select "No Entry" for the account titles and enter 0 for
the amounts.)
No.
Account Titles and Explanation
Debit
Credit
(a)...
P9.6 (LO 3) Yount Towing has equipment that cost €50,000 and that has been depreciated €22,000....
P9.6 (LO 3) Yount Towing has equipment that cost €50,000 and that has been depreciated €22,000. imu Instructions Record the disposal under the following assumptions. a. It was scrapped as having no value. b. It was sold for €25,000. c. It was sold for €31,000. O D o m 000 b no ob bod
Blossom Company has delivery equipment that cost $47.500 and has been depreciated $23.800. Recor entries for...
Blossom Company has delivery equipment that cost $47.500 and has been depreciated $23.800. Recor entries for the disposal under the following assumptions. (Credit account titles are automatically indented when amount is entered. Do not inden many for the account titles and enter for the amounts.) is required lect"Neftry" (a) It was repped as having no value b) It was sold for $37,700. ld It was sold for $18,100. No. Account Titles and Explanation
Purchase-Related Transactions Journalize entries for the following related transactions of Lilly Heating & Air Company using...
Purchase-Related Transactions Journalize entries for the following related transactions of Lilly Heating & Air Company using the net method under a perpetual inventory system. (If an amount box does not require an entry, leave it blank.) a. Purchased $24,000 of merchandise from Schell Co. on account, terms 2/10, n/30. 24,000 Inventory Accounts Payable-Schell Co. 24,000 b. Paid the amount owed on the invoice. Accounts Payable-Schell Co. 24,000 Cash 24,000 c. Discovered that merchandise with an invoice amount of $4,800 purchased...
Yount Winery is disposing of processing equipment that cost $50,000, which has been depreciated $22,000. Kecord...
Yount Winery is disposing of processing equipment that cost $50,000, which has been depreciated $22,000. Kecord the journal entries for disposal of the equipment under the following assumptions. It was scrapped as having no value. Accumulated Depr Equipment 50,000 22,000 Book Value = It was sold for $31,000 cash. 3 It was sold for $18,000 cash. It was exchanged for $10,000 cash (paid) and similar "new" equipment with a fair market value of $35,000. The "new" equipment has commercial value....
Tuwiman Co. for invoice of March 5. Instructions Journalize the entries to record the transactions of...
Tuwiman Co. for invoice of March 5. Instructions Journalize the entries to record the transactions of Niles Co. for March. PR 6-2B Sales-related transactions using perpetual inventory system The following selected transactions were completed by Green Lawn Supplies Co., which OBJ. 2 sells irrigation supplies primarily to wholesalers and occasionally to retail customers: July 1. Sold merchandise on account to Landscapes Co., $33,450, terms FOB shipping point, n/eom. The cost of merchandise sold was $20,000. 2. Sold merchandise for $86,000...
Pharoah Company has delivery equipment that cost $47,800 and has been depreciated $25,000. Prepare a tabular...
Pharoah Company has delivery equipment that cost $47,800 and has been depreciated $25,000. Prepare a tabular summary to record the disposal under the following assumptions. Your answer is partially correct. It was scrapped as having no value. (If a transaction causes a decrease in Assets, Liabilities or Stockholders' Equity, place a negative sign (or parenthese of the amount entered for the particular Asset, Liability or Equity item that was reduced.) = Liabilities + Assets Common Stock: Cash Accum. Depr. -...
Journalize entries for the following related transactions of Manville Heating& Air Company:
EX 6-8 Purchase-related transactions Journalize entries for the following related transactions of Manville Heating& Air Company: a. Purchased $90,000 of merchandise from Wright Co. on account, terms 2/10, n/30. b. Paid the amount owed on the invoice within the discount period. c. Discovered that $18,000 of the merchandise purchased in (a) was defective and re- turned items, receiving credit for $17,640 [$18,000-($18,000 2%). d. Purchased $10,000 of merchandise from Wright Co. on account, terms n/30. e. Received a refund from Wright Co. for return in (c)...
Tamarisk, Inc. has equipment that cost $79,900 and that has been depreciated $50,500 Record the disposal...
Tamarisk, Inc. has equipment that cost $79,900 and that has been depreciated $50,500 Record the disposal under the following assumptions. (a) It was scrapped as having no value. It was sold for $23,800. (b) It was sold for $32,100. (c) (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) Credit Debit No. Account Titles and Explanation (a)...
E9.9 (LO
3), AP Thieu Co. has delivery
equipment that cost $50,000 and has been depreciated $24,000.
Journalize transactions related to disposals of plant
assets.
Instructions
Record entries for the disposal under the following
assumptions.
a. It was scrapped as having no value.
b. It was sold for $37,000.
c. It was sold for $20,000.
E9.12 (LO
1,
2, 3),
AN Shown below are the T-accounts relating to equipment
that was purchased for cash by a company on the first...
Sarasota Co. has equipment that cost $75,700 and that has been
depreciated $49,800.
Record the disposal under the following assumptions.
(a)
It was scrapped as having no value.
(b)
It was sold for $22,200.
(c)
It was sold for $27,200.
(Credit account titles are automatically indented
when amount is entered. Do not indent manually. If no entry is
required, select "No Entry" for the account titles and enter 0 for
the amounts.)
No.
Account Titles and Explanation
Debit
Credit
(a)...
P9.6 (LO 3) Yount Towing has equipment that cost €50,000 and that has been depreciated €22,000. imu Instructions Record the disposal under the following assumptions. a. It was scrapped as having no value. b. It was sold for €25,000. c. It was sold for €31,000. O D o m 000 b no ob bod
Blossom Company has delivery equipment that cost $47.500 and has been depreciated $23.800. Recor entries for the disposal under the following assumptions. (Credit account titles are automatically indented when amount is entered. Do not inden many for the account titles and enter for the amounts.) is required lect"Neftry" (a) It was repped as having no value b) It was sold for $37,700. ld It was sold for $18,100. No. Account Titles and Explanation
Purchase-Related Transactions Journalize entries for the following related transactions of Lilly Heating & Air Company using the net method under a perpetual inventory system. (If an amount box does not require an entry, leave it blank.) a. Purchased $24,000 of merchandise from Schell Co. on account, terms 2/10, n/30. 24,000 Inventory Accounts Payable-Schell Co. 24,000 b. Paid the amount owed on the invoice. Accounts Payable-Schell Co. 24,000 Cash 24,000 c. Discovered that merchandise with an invoice amount of $4,800 purchased...
Yount Winery is disposing of processing equipment that cost $50,000, which has been depreciated $22,000. Kecord the journal entries for disposal of the equipment under the following assumptions. It was scrapped as having no value. Accumulated Depr Equipment 50,000 22,000 Book Value = It was sold for $31,000 cash. 3 It was sold for $18,000 cash. It was exchanged for $10,000 cash (paid) and similar "new" equipment with a fair market value of $35,000. The "new" equipment has commercial value....
Tuwiman Co. for invoice of March 5. Instructions Journalize the entries to record the transactions of Niles Co. for March. PR 6-2B Sales-related transactions using perpetual inventory system The following selected transactions were completed by Green Lawn Supplies Co., which OBJ. 2 sells irrigation supplies primarily to wholesalers and occasionally to retail customers: July 1. Sold merchandise on account to Landscapes Co., $33,450, terms FOB shipping point, n/eom. The cost of merchandise sold was $20,000. 2. Sold merchandise for $86,000...
Pharoah Company has delivery equipment that cost $47,800 and has been depreciated $25,000. Prepare a tabular summary to record the disposal under the following assumptions. Your answer is partially correct. It was scrapped as having no value. (If a transaction causes a decrease in Assets, Liabilities or Stockholders' Equity, place a negative sign (or parenthese of the amount entered for the particular Asset, Liability or Equity item that was reduced.) = Liabilities + Assets Common Stock: Cash Accum. Depr. -...
EX 6-8 Purchase-related transactions Journalize entries for the following related transactions of Manville Heating& Air Company: a. Purchased $90,000 of merchandise from Wright Co. on account, terms 2/10, n/30. b. Paid the amount owed on the invoice within the discount period. c. Discovered that $18,000 of the merchandise purchased in (a) was defective and re- turned items, receiving credit for $17,640 [$18,000-($18,000 2%). d. Purchased $10,000 of merchandise from Wright Co. on account, terms n/30. e. Received a refund from Wright Co. for return in (c)...
Tamarisk, Inc. has equipment that cost $79,900 and that has been depreciated $50,500 Record the disposal under the following assumptions. (a) It was scrapped as having no value. It was sold for $23,800. (b) It was sold for $32,100. (c) (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) Credit Debit No. Account Titles and Explanation (a)...
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