Homework Answers
Solution to question as per following image
Add Answer to:
11. (12 marks) On May 31, 2017, John Deere sold a tractor to Dirtco in $540,000...
11. (12 marks) On May 31, 2017, John Deere sold a tractor to Dirtco in $540,000...
11. (12 marks) On May 31, 2017, John Deere sold a tractor to Dirtco in $540,000 non-interest bearing note. Dirtco will make $200,000 each; one on May 31, 2018, and one on May 3 2010, they will pay the remaining $140,000. John Deere 31. Assume that your year-end adjusting entries are reverse show the reversal entry. Dirtco would normally paya irtco in exchange for a three year, make two equal payments of e on May 31, 2019. On May 31,...
P10-2A. Adjusting Entries for Interest At December31, 2017, Eric Corporation had two notes payable outstanding (notes...
P10-2A. Adjusting Entries for Interest At December31, 2017, Eric Corporation had two notes payable outstanding (notes 1 and 2). At December 31, 2018, Eric also had two notes payable outstanding (notes 3 and 4). These notes are described below: Date of Note Principal Amount Interest Rate number of Days December 31, 2017 Notes 1......…………………..11/16/2017 $30,000 8% 120 Note 2...……...………………12/4/2017 16,000 9 60 December 31, 2018 Note 3 12/7/2018 9,000 10 60 Note 4...
Rawl Corporation sold a building to a bank at the beginning of 2017 at a gain...
Rawl Corporation sold a building to a bank at the beginning of 2017 at a gain of $82,000 and immediately leased the building back for a period of four years. The lease is accounted for as an operating lease. The book value of building (net) is $525,000. Assume that a U.S.-based company is issuing securities to foreign investors who require financial statements prepared in accordance with IFRS. Thus, adjustments to convert from U.S. GAAP to IFRS must be made. Ignore...
Ch 12 P-27 0 On January 1, 2017, the City of Hastings created a solid waste...
Ch 12 P-27 0 On January 1, 2017, the City of Hastings created a solid waste landfi If the landfill were to be closed at the current time, closure costs would be approximately $1.35 million plus an additional $880.000 for postclosure work. Of these totals, the city must pay $49.500 on December 31 of each year for preliminary closure work. At the end of 2017, the landfill reached 2 percent of capacity. At the end of 2018, the landfill reached...
Please answer the whole question. Refer to the following Hawkeye Ranges. As of December 31, 2017,...
Please answer the whole question.
Refer to the following Hawkeye Ranges.
As of December 31, 2017, employees had earned $855 of unpaid
and unrecorded salaries. The next payday is January 4, at which
time $1,522 of salaries will be paid.
The cost of supplies still available at December 31, 2017, is
$2,575.
The notes payable requires an interest payment to be made every
three months. The amount of unrecorded accrued interest at December
31, 2017, is $1,375. The next interest...
Woodwick Company issues 6%, five-year bonds, on December 31, 2017, with a par value of $102,000...
Woodwick Company issues 6%, five-year bonds, on December 31, 2017, with a par value of $102,000 and semia payments. Semiannual Period-End (0) 12/31/2017 (1) 6/30/2018 (2) 12/31/2018 Unamortized Premium $8,151 7,336 6,521 Carrying Value $110,151 109,336 108,521 Use the above straight-line bond amortization table and prepare journal entries for the following. (a) The issuance of bonds on December 31, 2017, (b) The first interest payment on June 30, 2018. (c) The second interest payment on December 31, 2018. View transaction...
a. Wages of $11,000 are earned by workers but not paid as of December 31, 2017....
a. Wages of $11,000 are earned by workers but not paid as of December 31, 2017. b. Depreciation on the company's equipment for 2017 is $10,360. c. The Office Supplies account had a $370 debit balance on December 31, 2016. During 2017, $4,895 of office supplies are purchased. A physical count of supplies at December 31, 2017, shows $540 of supplies available. d. The Prepaid Insurance account had a $5,000 balance on December 31, 2016. An analysis of insurance policies...
Brokeback Towing Company is at the end of its accounting year, December 31, 2017. The following...
Brokeback Towing Company is at the end of its accounting year, December 31, 2017. The following data that must be considered were developed from the company's records and related documents: a. On July 1 2017 a three-year Insurance premium on equipment in the amount of $1,800 was paid and debited in full to Prepaid Insurance on that date. Coverage began on July 1 b. At the end of 2017, the unadjusted balance in the Office Supplies account was $2.000. A...
Check my work On January 1, 2018, Byner Company purchased a used tractor. Byner paid $2,000...
Check my work On January 1, 2018, Byner Company purchased a used tractor. Byner paid $2,000 down and signed a noninterest-bearing note requiring $29,000 to be paid on December 31, 2020. The fair value of the tactor is not determinable. An interest rate of 10% popery reflects the time value of money for this type of loan agreement. The company's fiscal year-end is December 31. (EV of $1. PV of $1 FVA of $1. PVA of $1, EVAD of $1...
P7-3A On May 31, 2017, Rebe On May 31, 2017, Reber Company had a cash balance...
P7-3A On May 31, 2017, Rebe On May 31, 2017, Reber Company had a cash balance per books of $6,781.50. The P k statement from New York State Bank on that date showed a balance of $6,404.60. A a omparison of the statement with the Cash account revealed the following facts. The statement included a debit memo of $40 for the printing of additional company checks. 2. Cash sales of $836.15 on May 12 were deposited in the bank. The...
11. (12 marks) On May 31, 2017, John Deere sold a tractor to Dirtco in $540,000 non-interest bearing note. Dirtco will make $200,000 each; one on May 31, 2018, and one on May 3 2010, they will pay the remaining $140,000. John Deere 31. Assume that your year-end adjusting entries are reverse show the reversal entry. Dirtco would normally paya irtco in exchange for a three year, make two equal payments of e on May 31, 2019. On May 31,...
Rawl Corporation sold a building to a bank at the beginning of 2017 at a gain of $82,000 and immediately leased the building back for a period of four years. The lease is accounted for as an operating lease. The book value of building (net) is $525,000. Assume that a U.S.-based company is issuing securities to foreign investors who require financial statements prepared in accordance with IFRS. Thus, adjustments to convert from U.S. GAAP to IFRS must be made. Ignore...
Ch 12 P-27 0 On January 1, 2017, the City of Hastings created a solid waste landfi If the landfill were to be closed at the current time, closure costs would be approximately $1.35 million plus an additional $880.000 for postclosure work. Of these totals, the city must pay $49.500 on December 31 of each year for preliminary closure work. At the end of 2017, the landfill reached 2 percent of capacity. At the end of 2018, the landfill reached...
Please answer the whole question.
Refer to the following Hawkeye Ranges.
As of December 31, 2017, employees had earned $855 of unpaid
and unrecorded salaries. The next payday is January 4, at which
time $1,522 of salaries will be paid.
The cost of supplies still available at December 31, 2017, is
$2,575.
The notes payable requires an interest payment to be made every
three months. The amount of unrecorded accrued interest at December
31, 2017, is $1,375. The next interest...
Woodwick Company issues 6%, five-year bonds, on December 31, 2017, with a par value of $102,000 and semia payments. Semiannual Period-End (0) 12/31/2017 (1) 6/30/2018 (2) 12/31/2018 Unamortized Premium $8,151 7,336 6,521 Carrying Value $110,151 109,336 108,521 Use the above straight-line bond amortization table and prepare journal entries for the following. (a) The issuance of bonds on December 31, 2017, (b) The first interest payment on June 30, 2018. (c) The second interest payment on December 31, 2018. View transaction...
a. Wages of $11,000 are earned by workers but not paid as of December 31, 2017. b. Depreciation on the company's equipment for 2017 is $10,360. c. The Office Supplies account had a $370 debit balance on December 31, 2016. During 2017, $4,895 of office supplies are purchased. A physical count of supplies at December 31, 2017, shows $540 of supplies available. d. The Prepaid Insurance account had a $5,000 balance on December 31, 2016. An analysis of insurance policies...
Brokeback Towing Company is at the end of its accounting year, December 31, 2017. The following data that must be considered were developed from the company's records and related documents: a. On July 1 2017 a three-year Insurance premium on equipment in the amount of $1,800 was paid and debited in full to Prepaid Insurance on that date. Coverage began on July 1 b. At the end of 2017, the unadjusted balance in the Office Supplies account was $2.000. A...
Check my work On January 1, 2018, Byner Company purchased a used tractor. Byner paid $2,000 down and signed a noninterest-bearing note requiring $29,000 to be paid on December 31, 2020. The fair value of the tactor is not determinable. An interest rate of 10% popery reflects the time value of money for this type of loan agreement. The company's fiscal year-end is December 31. (EV of $1. PV of $1 FVA of $1. PVA of $1, EVAD of $1...
P7-3A On May 31, 2017, Rebe On May 31, 2017, Reber Company had a cash balance per books of $6,781.50. The P k statement from New York State Bank on that date showed a balance of $6,404.60. A a omparison of the statement with the Cash account revealed the following facts. The statement included a debit memo of $40 for the printing of additional company checks. 2. Cash sales of $836.15 on May 12 were deposited in the bank. The...
Most questions answered within 3 hours.
-
Compare and contrast the linear motion and angular motion
equations F ma and . That is,...
asked 10 minutes ago -
Now that this course has taken you on a journey of introduction
to the world of...
asked 50 minutes ago -
Given a regression sum of squares equal to 2373.59 and a total
sum of squares equal...
asked 1 hour ago -
The sandwich maker of the EE-Cole-Eye Sandwich Truck was just
fired (for a reason described below)...
asked 3 hours ago -
Name the following coordination compounds using systematic
nomenclature.
1. [Co(H2O)6]Cl2:
2. [Cr(NH3)6](NO3)3:
3. K4[Fe(CN)6]:
4. Na[Au(CN)4]:...
asked 2 hours ago -
Propose an efficient synthesis of 2-Bromo-5-nitrotoluene from
benzene. Hint: 3 steps. Consider directing effects of substituents....
asked 4 hours ago -
This assignment will explore the impact of corporate decisions
on a local versus a global perspective....
asked 3 hours ago -
Given the function below, F(w,x,y,z)= x’z+w’z’+w’y
a) draw a logic diagram for an implementation which uses...
asked 3 hours ago -
Most political philosophers believe we have a duty to obey laws,
even if the laws in...
asked 4 hours ago -
Which of the following are common negotiation outcome
mistakes?
a. Leave money on the table b....
asked 4 hours ago -
Convert the following quantities:
a) 0.819 atm to torr b) 512 mmHg to bar c) 11.2...
asked 5 hours ago -
C ++ Implement cat command
The purpose of this assignment is to provide practice using the...
asked 5 hours ago