Homework Answers
Answer
- Working
|
Allocation of Total Cost |
Appriased Value |
% of total appraised value |
Total cost of acquisition |
Apportioned Cost |
|
Building |
$ 299,860.00 |
44.0% |
$ 681,500.00 |
$ 299,860.00 |
|
Land |
$ 381,640.00 |
56.0% |
$ 681,500.00 |
$ 381,640.00 |
|
Total |
$ 681,500.00 |
100% |
$ 681,500.00 |
- Journal Entry
|
Date |
Accounts title |
Debit |
Credit |
|
Oct 17 |
Building |
$ 299,860.00 |
|
|
Land |
$ 381,640.00 |
||
|
Cash |
$ 78,200.00 |
||
|
Notes Payable |
$ 603,300.00 |
||
|
(lumpsum purchases recorded) |
Add Answer to:
on October 17, nickel company purchased a building and a plot of land for $681,500 Instructions...
On October 17, Nickle Company purchased a building and a plot of land for $615,600. The...
On October 17, Nickle Company purchased a building and a plot of land for $615,600. The building was valued at $240,100 while the land carried a value of $375,500. Nickle paid $51,700 down in cash and signed a note payable for the balance. Prepare the journal entry for this transaction. If an amount box does not require an entry, leave it blank. Oct. 17 000
V2.CenyayerW.COM [ On October 17, Nickle Company purchased a building and a plot of land for...
V2.CenyayerW.COM [ On October 17, Nickle Company purchased a building and a plot of land for $713,400. The building was valued at $378,100 while the land carried a value of $335,300. Nickle paid $58,200 down in cash and signed a note payable for the balance. Journalize the entry required for this transaction. If an amount box does not require an entry, leave it blank. Oct. 17 <
1) On October 10, Nickle Company purchased supplies for $1,800 on account. On October 25, Nickle...
1) On October 10, Nickle Company purchased supplies for $1,800 on account. On October 25, Nickle Company paid the invoice. Journalize the entries required for these transactions 2) On October 17, Nickle Company purchased a building and a plot of land for $750,000. The building was valued at $500,000, while the land carried a value of $250,000. Nickle paid $300,000 down in cash and signed a note payable for the balance. Journalize the entry required for this transaction. 3) On...
eBook Calculator Print Item Instructions Pitman Company is a small editorial services company owned and operated...
eBook Calculator Print Item Instructions Pitman Company is a small editorial services company owned and operated by Jan Pitman. On October 31, 2019 the end of the current year, Pitman Company's accounting clerk prepared the following unadjusted trial balance: Pitman Company UNADJUSTED TRIAL BALANCE October 31, 2019 CREDIT ACCOUNT TITLE DEBIT 7,710.00 1 Cash 37,935.00 2 Accounts Receivable 3 Prepaid Insurance 7,070.00 2,125.00 4 Supplies 5 Land 108,400.00 145,300.00 Building 85,610.00 Accumulated Depreciation-Building 134,800.00 Equipment u m or Check My...
Cullumber purchased land and a building on April for 398,400. The company paid 123,600 in cash...
Cullumber purchased land and a building on April for 398,400.
The company paid 123,600 in cash and signed a 5% note payable
Problem 9-6A Cullumber Company purchased land and a building on April 1, 2019, for $398,400. The company paid $123,600 in cash and signed a 5 % note payable for the balance. At that time, it was estimated that the land was worth $159,000 and the building, $239,400. The building was estimated to have a 25-year useful life with...
Instructions Chart of Accounts Journal T Accounts Unadjusted Trial Balance Final Questions Instructions On October 1,...
Instructions Chart of Accounts Journal T Accounts Unadjusted Trial Balance Final Questions Instructions On October 1, 2018, Jay Crowley established Affordable Realty, which completed the following transactions during the month: Oct 1 2 3 4 5 6 Jay Crowley transferred cash from a personal bank account to an account to be used for the business in exchange for common stock, $40,000. Paid rent on office and equipment for the month, $4,800. Purchased supplies on account, $2,150. Paid creditor on account,...
Pitman company is a small editorial services company owned and operated by Jan Pitman. On October...
Pitman company is a small editorial services company owned and
operated by Jan Pitman. On October 31, 2019 the end of the current
year, Pitman Company's accounting clerk prepared the following on
adjusted trial balance:
2.) Determine The balances of the accounts affected by the
adjusting entries and prepare an adjusted trial balance
eBook Calculator Print Item Instructions Pitman Company UNADJUSTED TRIAL BALANCE October 31, 2019 ACCOUNT TITLE CREDIT 1 Cash DEBIT 7,420.00 38,360.00 2 3 • Accounts Receivable Prepaid...
Instructions Chart of Accounts Amount Descriptions Journal T Accounts < HI Instructions Kurtz Fencing Inc. uses...
Instructions Chart of Accounts Amount Descriptions Journal T Accounts < HI Instructions Kurtz Fencing Inc. uses a job order cost system. The following data summarize the operations related to production for March, the first month of operations: a. Materials purchased on account, $30,100. b. Materials requisitioned and factory labor used: Job Materials Factory Labor $3,110 $2,720 301 302 3,710 3,810 303 1,970 2,400 8,500 304 6,870 305 5,210 5,410 306 3,850 3,290 For general factory use 1,080 4,120 c. Factory...
Apr 1 2 5 Paid rent on office for month, 56,000. Purchased office supplies on account,...
Apr 1 2 5 Paid rent on office for month, 56,000. Purchased office supplies on account, $2,400 Paid insurance premiums, $5,000. 10 Received cash from clients on account, $52,700. 15 Purchased land for a future building site for $227,000 paying $27,000 in cash and giving a note payable for the remainder Paid creditors on account, $6,050 20 Returned a portion of the office supplies purchased on April 2, receiving full credit for their cost, $360 23 Paid advertising expense, S4,150....
SOLVE ADJUSTED TRIAL BALANCE 2 ONLY. the empty boxes are what answers im looking for. Instructions...
SOLVE ADJUSTED TRIAL BALANCE 2 ONLY. the empty boxes are what
answers im looking for.
Instructions Emerson Company is a small editorial services company owned and operated by Suzanne Emerson. On October 31, 2016, Emerson Company's accounting clerk prepared the following unadjusted trial balance: Emerson Company UNADJUSTED TRIAL BALANCE October 31, 2016 ACCOUNT TITLE DEBIT CREDIT 1 Cash 7.420.00 38,360.00 2 Accounts Receivable 7.320.00 2.390.00 117,000.00 154,900.00 3 Prepaid Insurance Supplies 5 Land 6 Building Accumulated Depreciation-Building • Equipment Accumulated...
On October 17, Nickle Company purchased a building and a plot of land for $615,600. The building was valued at $240,100 while the land carried a value of $375,500. Nickle paid $51,700 down in cash and signed a note payable for the balance. Prepare the journal entry for this transaction. If an amount box does not require an entry, leave it blank. Oct. 17 000
V2.CenyayerW.COM [ On October 17, Nickle Company purchased a building and a plot of land for $713,400. The building was valued at $378,100 while the land carried a value of $335,300. Nickle paid $58,200 down in cash and signed a note payable for the balance. Journalize the entry required for this transaction. If an amount box does not require an entry, leave it blank. Oct. 17 <
eBook Calculator Print Item Instructions Pitman Company is a small editorial services company owned and operated by Jan Pitman. On October 31, 2019 the end of the current year, Pitman Company's accounting clerk prepared the following unadjusted trial balance: Pitman Company UNADJUSTED TRIAL BALANCE October 31, 2019 CREDIT ACCOUNT TITLE DEBIT 7,710.00 1 Cash 37,935.00 2 Accounts Receivable 3 Prepaid Insurance 7,070.00 2,125.00 4 Supplies 5 Land 108,400.00 145,300.00 Building 85,610.00 Accumulated Depreciation-Building 134,800.00 Equipment u m or Check My...
Cullumber purchased land and a building on April for 398,400.
The company paid 123,600 in cash and signed a 5% note payable
Problem 9-6A Cullumber Company purchased land and a building on April 1, 2019, for $398,400. The company paid $123,600 in cash and signed a 5 % note payable for the balance. At that time, it was estimated that the land was worth $159,000 and the building, $239,400. The building was estimated to have a 25-year useful life with...
Instructions Chart of Accounts Journal T Accounts Unadjusted Trial Balance Final Questions Instructions On October 1, 2018, Jay Crowley established Affordable Realty, which completed the following transactions during the month: Oct 1 2 3 4 5 6 Jay Crowley transferred cash from a personal bank account to an account to be used for the business in exchange for common stock, $40,000. Paid rent on office and equipment for the month, $4,800. Purchased supplies on account, $2,150. Paid creditor on account,...
Pitman company is a small editorial services company owned and
operated by Jan Pitman. On October 31, 2019 the end of the current
year, Pitman Company's accounting clerk prepared the following on
adjusted trial balance:
2.) Determine The balances of the accounts affected by the
adjusting entries and prepare an adjusted trial balance
eBook Calculator Print Item Instructions Pitman Company UNADJUSTED TRIAL BALANCE October 31, 2019 ACCOUNT TITLE CREDIT 1 Cash DEBIT 7,420.00 38,360.00 2 3 • Accounts Receivable Prepaid...
Instructions Chart of Accounts Amount Descriptions Journal T Accounts < HI Instructions Kurtz Fencing Inc. uses a job order cost system. The following data summarize the operations related to production for March, the first month of operations: a. Materials purchased on account, $30,100. b. Materials requisitioned and factory labor used: Job Materials Factory Labor $3,110 $2,720 301 302 3,710 3,810 303 1,970 2,400 8,500 304 6,870 305 5,210 5,410 306 3,850 3,290 For general factory use 1,080 4,120 c. Factory...
Apr 1 2 5 Paid rent on office for month, 56,000. Purchased office supplies on account, $2,400 Paid insurance premiums, $5,000. 10 Received cash from clients on account, $52,700. 15 Purchased land for a future building site for $227,000 paying $27,000 in cash and giving a note payable for the remainder Paid creditors on account, $6,050 20 Returned a portion of the office supplies purchased on April 2, receiving full credit for their cost, $360 23 Paid advertising expense, S4,150....
SOLVE ADJUSTED TRIAL BALANCE 2 ONLY. the empty boxes are what
answers im looking for.
Instructions Emerson Company is a small editorial services company owned and operated by Suzanne Emerson. On October 31, 2016, Emerson Company's accounting clerk prepared the following unadjusted trial balance: Emerson Company UNADJUSTED TRIAL BALANCE October 31, 2016 ACCOUNT TITLE DEBIT CREDIT 1 Cash 7.420.00 38,360.00 2 Accounts Receivable 7.320.00 2.390.00 117,000.00 154,900.00 3 Prepaid Insurance Supplies 5 Land 6 Building Accumulated Depreciation-Building • Equipment Accumulated...
Most questions answered within 3 hours.
-
Assume Kw = 1.01 ✕ 10−14
For pure water, we can calculate [H3O+ ] = [OH...
asked 53 minutes ago -
Suppose that on a temperature scale X, water boils at 203.0°X
and freezes at -105.7°X. What...
asked 1 hour ago -
BaS crystallizes in a cubic unit cell with S2- ions on each
corner and each face....
asked 2 hours ago -
A. 0≤P(Oi)≤10≤P(Oi)≤1 for each i
B. P(Oi)≤0P(Oi)≤0
C. P(Oi)=1+P(OCi)P(Oi)=1+P(OiC)
D. P(Oi)≥1P(Oi)≥1
If an experiment consists of...
asked 3 hours ago -
A battery has an emf of 9.20V and an internal resistance of 1.20
ohm. a)What resistance...
asked 3 hours ago -
The area of an elastic circular loop decreases at a constant
rate, dA/dt = −6.60×10−3 m2/s...
asked 4 hours ago -
The denaturation of proteins can be described by the
equilibrium
F⇌U
where F and U represent...
asked 6 hours ago -
Please answer what the maximum and minimum force is, and the
angle on the ion is...
asked 6 hours ago -
implement a program that reads a number of rows and a symbol.
The program will draw...
asked 6 hours ago -
Assume that when adults with smartphones are randomly selected,
45% use them in meetings or classes....
asked 6 hours ago -
Determine the number of formula units of
Na2SO4 and moles of oxygen contained in 8.11
moles...
asked 6 hours ago -
Explain in steps on the following code
What would be the output when executed
using System;...
asked 6 hours ago