Homework Answers
| Debit | Credit | ||
| 1 | Cash | 10500 | |
| Land | 8400 | ||
| Gain on disposal of plant assets | 2100 | ||
| 2 | Cash | 23300 | |
| Common Stock | 23300 | ||
| 3 | Depreciation expense | 16900 | |
| Accumulated Depreciation-Buildings | 16900 | ||
| 4 | Salaries and Wages expense | 7800 | |
| Cash | 7800 | ||
| 5 | Equipment | 8800 | |
| Common Stock | 1400 | ||
| Paid in Capital in excess of par-Common Stock | 7400 | ||
| 6 | Cash | 1476 | |
| Accumulated Depreciation-Equipment | 8610 | ||
| Loss on disposal of plant assets | 2214 | ||
| Equipment | 12300 |
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Cushenberry Corporation had the following transactions. 1. Sold land (cost $8,400) for $10,500. 2. Issued common...
Cushenberry Corporation had the following transactions. 1. Sold land (cost $7,760) for $9,700. 2. Issued common...
Cushenberry Corporation had the following transactions. 1. Sold land (cost $7,760) for $9,700. 2. Issued common stock at par for $22,100. 3. Recorded depreciation on buildings for $12,500. 4. Paid salaries of $6,600. 5. Issued 1,500 shares of $1 par value common stock for equipment worth $8,200. 6. Sold equipment (cost $12,900, accumulated depreciation $9,030) for $1,548. (a) For each transaction above, prepare the journal entry. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)...
Cushenberry Corporation had the following transactions. 1. Sold land (cost $7.200) for $9,000. 2. Issued common...
Cushenberry Corporation had the following transactions. 1. Sold land (cost $7.200) for $9,000. 2. Issued common stock at par for $22,900. 3. Recorded depreciation on buildngs for $16,600. 4. Paid salaries of $7,000 S. Issued 1,100 shares of $1 par value common stock for equipment worth $9,200 6. Sold equipment (cost $14,400, accumulated depredation $10,080) for $1,728 (a) For each transaction above, prepare the journall entry. (Credit account titles are automatically indented when amount is entered. Do not indent manualy.)...
Cushenberry Corporation had the following transactions. 1. Sold land (cost $12,000) for $15,000 2. Issued common...
Cushenberry Corporation had the following transactions. 1. Sold land (cost $12,000) for $15,000 2. Issued common stock at par for $20,000. 3. Recorded depreciation on buildings for $17,000. 4. Paid salaries of $9,000 5. Issued 1,000 shares of $1 par value common stock for equipment worth $8,000 6. Sold equipment (cost $10,000, accumulated depreciation $7,000) for $1,200. (b) For each transaction above indicate how it would affect the statement of cash flows using the indirect method.
CALCULATOR FULL SCREEN PRINTER VE Exercise 17-03 a Cushenberry Corporation had the following transactions. 1. Sold...
CALCULATOR FULL SCREEN PRINTER VE Exercise 17-03 a Cushenberry Corporation had the following transactions. 1. Sold land (cost $8,000) for $10,000. 2. Issued common stock at par for $20,800. 3. Recorded depreciation on buildings for $12,200. 4. Paid salaries of $7,300. 5. Issued 1,400 shares of $1 par value common stock for equipment worth $9,100. 6. Sold equipment (cost $11,800, accumulated depreciation $8,260) for $1,416. (a) For each transaction above, prepare the journal entry. (Credit account titles are automatically indented...
Exercise 17-03 b (Essay) Cushenberry Corporation had the following transactions. 1. Sold land (cost $12,000) for...
Exercise 17-03 b (Essay) Cushenberry Corporation had the following transactions. 1. Sold land (cost $12,000) for $15,000. 2. Issued common stock at par for $20,000. 3. Recorded depreciation on buildings for $17,000. 4. Paid salaries of $9,000. 5. Issued 1,000 shares of $1 par value common stock for equipment worth $8,000. 6. Sold equipment (cost $10,000, accumulated depreciation $7,000) for $1,200. (b) For each transaction above indicate how it would affect the statement of cash flows using the indirect method....
ment CALCULATO Exercise 17-03 b (Essay) Cushenberry Corporation had the following transactions. 1. Sold land (cost...
ment CALCULATO Exercise 17-03 b (Essay) Cushenberry Corporation had the following transactions. 1. Sold land (cost $12,000) for $15,000. 2. Issued common stock at par for $20,000. 3. Recorded depreciation on buildings for $17,000. 4. Paid salaries of $9,000. 5. Issued 1,000 shares of $1 par value common stock for equipment worth $8,000. 6. Sold equipment (cost $10,000, accumulated depreciation $7,000) for $1,200. (b) For each transaction above indicate how it would affect the statement of cash flows using the...
Exercise 12-03 Sheridan Corporation had the following transactions. Sold land (cost $11,300) for $14,300. 1. Issued...
Exercise 12-03 Sheridan Corporation had the following transactions. Sold land (cost $11,300) for $14,300. 1. Issued common stock at par for $20,000. 2. Recorded depreciation on buildings for $16,300. 3. Paid salaries of $8,300. 4. Issued 1,200 shares of $1 par value common stock for equipment worth $9,600. 5. Sold equipment (cost $9,200, accumulated depreciation $6,440) for $1,104. 6. (a) For each transaction above, prepare the journal entry. (Credit account titles are automatically indented when amount Transaction Account Titles and...
Exercise 12-03 Oriole Corporation had the following transactions. 1. Sold land (cost $12,200) for $15,200. 2....
Exercise 12-03 Oriole Corporation had the following transactions. 1. Sold land (cost $12,200) for $15,200. 2. Issued common stock at par for $20,000. 3. Recorded depreciation on buildings for $17,200. 4. Paid salaries of $9,200. 5. Issued 800 shares of $1 par value common stock for equipment worth $6,400. 6. Sold equipment (cost $11,000, accumulated depreciation $7,700) for $1,320. Transaction Account Titles and Explanation Debit Credit For each transaction above, (b) indicate how it would affect the statement of cash...
E 12-3: Cushenberry Corporation had the following transactions. For each transaction, (a) prepare the journal entry,...
E 12-3: Cushenberry Corporation had the following transactions. For each transaction, (a) prepare the journal entry, and (b) indicate how it would affect the statement of cash flows using the indirect method. 1. Sold land (cost $12,000) for $15,000. 2. Issued common stock at par for $20,000. 3. Recorded depreciation on buildings for $17,000. 4. Paid salaries of $9,000. 5. Issued 1,000 shares of $1 par value common stock for equipment worth $8,000. 6. Sold equipment (cost $10,000, accumulated depreciation...
Pina Corporation issued 10,500 shares of $2 par value common stock upon conversion of 2.100 shares...
Pina Corporation issued 10,500 shares of $2 par value common stock upon conversion of 2.100 shares of $100 par value preferred stock. The preferred stock was originally issued at $107 per share. The common stock is trading at $25 per share at the time of conversion. Record the conversion of the preferred stock. (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...
Cushenberry Corporation had the following transactions. 1. Sold land (cost $7.200) for $9,000. 2. Issued common stock at par for $22,900. 3. Recorded depreciation on buildngs for $16,600. 4. Paid salaries of $7,000 S. Issued 1,100 shares of $1 par value common stock for equipment worth $9,200 6. Sold equipment (cost $14,400, accumulated depredation $10,080) for $1,728 (a) For each transaction above, prepare the journall entry. (Credit account titles are automatically indented when amount is entered. Do not indent manualy.)...
Cushenberry Corporation had the following transactions. 1. Sold land (cost $12,000) for $15,000 2. Issued common stock at par for $20,000. 3. Recorded depreciation on buildings for $17,000. 4. Paid salaries of $9,000 5. Issued 1,000 shares of $1 par value common stock for equipment worth $8,000 6. Sold equipment (cost $10,000, accumulated depreciation $7,000) for $1,200. (b) For each transaction above indicate how it would affect the statement of cash flows using the indirect method.
CALCULATOR FULL SCREEN PRINTER VE Exercise 17-03 a Cushenberry Corporation had the following transactions. 1. Sold land (cost $8,000) for $10,000. 2. Issued common stock at par for $20,800. 3. Recorded depreciation on buildings for $12,200. 4. Paid salaries of $7,300. 5. Issued 1,400 shares of $1 par value common stock for equipment worth $9,100. 6. Sold equipment (cost $11,800, accumulated depreciation $8,260) for $1,416. (a) For each transaction above, prepare the journal entry. (Credit account titles are automatically indented...
Exercise 17-03 b (Essay) Cushenberry Corporation had the following transactions. 1. Sold land (cost $12,000) for $15,000. 2. Issued common stock at par for $20,000. 3. Recorded depreciation on buildings for $17,000. 4. Paid salaries of $9,000. 5. Issued 1,000 shares of $1 par value common stock for equipment worth $8,000. 6. Sold equipment (cost $10,000, accumulated depreciation $7,000) for $1,200. (b) For each transaction above indicate how it would affect the statement of cash flows using the indirect method....
ment CALCULATO Exercise 17-03 b (Essay) Cushenberry Corporation had the following transactions. 1. Sold land (cost $12,000) for $15,000. 2. Issued common stock at par for $20,000. 3. Recorded depreciation on buildings for $17,000. 4. Paid salaries of $9,000. 5. Issued 1,000 shares of $1 par value common stock for equipment worth $8,000. 6. Sold equipment (cost $10,000, accumulated depreciation $7,000) for $1,200. (b) For each transaction above indicate how it would affect the statement of cash flows using the...
Exercise 12-03 Sheridan Corporation had the following transactions. Sold land (cost $11,300) for $14,300. 1. Issued common stock at par for $20,000. 2. Recorded depreciation on buildings for $16,300. 3. Paid salaries of $8,300. 4. Issued 1,200 shares of $1 par value common stock for equipment worth $9,600. 5. Sold equipment (cost $9,200, accumulated depreciation $6,440) for $1,104. 6. (a) For each transaction above, prepare the journal entry. (Credit account titles are automatically indented when amount Transaction Account Titles and...
Exercise 12-03 Oriole Corporation had the following transactions. 1. Sold land (cost $12,200) for $15,200. 2. Issued common stock at par for $20,000. 3. Recorded depreciation on buildings for $17,200. 4. Paid salaries of $9,200. 5. Issued 800 shares of $1 par value common stock for equipment worth $6,400. 6. Sold equipment (cost $11,000, accumulated depreciation $7,700) for $1,320. Transaction Account Titles and Explanation Debit Credit For each transaction above, (b) indicate how it would affect the statement of cash...
Pina Corporation issued 10,500 shares of $2 par value common stock upon conversion of 2.100 shares of $100 par value preferred stock. The preferred stock was originally issued at $107 per share. The common stock is trading at $25 per share at the time of conversion. Record the conversion of the preferred stock. (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...
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