Bridge City Consulting bought a building and the land on which It is located for $125,000 cash. The land is estimated to represent 60 percent of the purchase price. The company paid $10,000 for building renovations before it was ready for use. E9-2 (Algo) Part 2 Required: 2. Prepare the journal entry to record all expenditures. Assume that all transactions were for cash and they occurred at the start of the year. (If no entry is required for a transaction/event, select "No Journal Entry Required" In the first account fleld.)
Bridge City Consulting bought a building and the land on which It is located for $125,000 cash. The land is estimated to represent 60 percent of the purchase price. The company paid $10,000 for building renovations before it was ready for use. E9-2 (Algo) Part 2 Required: 2. Prepare the journal entry to record all expenditures. Assume that all transactions were for cash and they occurred at the start of the year. (If no entry is required for a transaction/event, select "No Journal Entry Required" In the first account fleld.)
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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![Required Information
E9-2 (Algo) Computing and Recording a Basket Purchase and Straight-Line Depreciation [LO 9-2, LO 9-3]
[The following information applies to the questions displayed below.]
Bridge City Consulting bought a building and the land on which it is located for $125,000 cash. The land is estimated to
represent 60 percent of the purchase price. The company paid $10,000 for building renovations before it was ready for
use.
E9-2 (Algo) Part 2
Required:
2. Prepare the journal entry to record all expenditures. Assume that all transactions were for cash and they occurred at the start of the
year. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.)
View transaction list View journal entry worksheet
No
A
Transaction
1
Buildings
General Journal
Debit
135,000
Credit](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fd5509272-6748-4019-a59f-de6566a88ac0%2F6e4387ca-5839-4f54-9ffd-47634a5bcc16%2Fviw9s2e_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Required Information
E9-2 (Algo) Computing and Recording a Basket Purchase and Straight-Line Depreciation [LO 9-2, LO 9-3]
[The following information applies to the questions displayed below.]
Bridge City Consulting bought a building and the land on which it is located for $125,000 cash. The land is estimated to
represent 60 percent of the purchase price. The company paid $10,000 for building renovations before it was ready for
use.
E9-2 (Algo) Part 2
Required:
2. Prepare the journal entry to record all expenditures. Assume that all transactions were for cash and they occurred at the start of the
year. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.)
View transaction list View journal entry worksheet
No
A
Transaction
1
Buildings
General Journal
Debit
135,000
Credit
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