Complete the plant asset record for the following asset. The business used the asset for the entire estimated useful life. HINT: the asset was only used the first 6 months in the year it was purchased. Complete the YEAR, Annual Depreciation Expense, Accumulated Depreciation and Ending Book Value columns. The business sold this asset on June 28, 2006. The disposal amount received was $1,100.00 Complete the disposal section of the plant asset record and journalize the disposal transaction using the journal provided. HINT: the asset was sold for MORE THAN the Estimated Salvage Value. The journal page is 8 and the source document for the disposal transaction is Receipt 9. Asset 2 PLANT ASSET RECORD No. Description Freezer Date Bought July 6, 2002 Date Estimated Useful Life Disposed of: 4 years 71 Serial # SDF5T67 Estimated Salvage Value Discarded $1,000.00 Sold General Ledger Account No. 1160 G/L Account Store Equipment Original Cost $4,000.00 YEAR Annual Depreciation Expense Accumulated Depreciation Depreciation Disposal Amount Method Straight-Line Traded Ending Book Value

Complete the plant asset record for the following asset. The business used the asset for the entire estimated useful life. HINT: the asset was only used the first 6 months in the year it was purchased. Complete the YEAR, Annual Depreciation Expense, Accumulated Depreciation and Ending Book Value columns. The business sold this asset on June 28, 2006. The disposal amount received was $1,100.00 Complete the disposal section of the plant asset record and journalize the disposal transaction using the journal provided. HINT: the asset was sold for MORE THAN the Estimated Salvage Value. The journal page is 8 and the source document for the disposal transaction is Receipt 9. Asset 2 PLANT ASSET RECORD No. Description Freezer Date Bought July 6, 2002 Date Estimated Useful Life Disposed of: 4 years 71 Serial # SDF5T67 Estimated Salvage Value Discarded $1,000.00 Sold General Ledger Account No. 1160 G/L Account Store Equipment Original Cost $4,000.00 YEAR Annual Depreciation Expense Accumulated Depreciation Depreciation Disposal Amount Method Straight-Line Traded Ending Book Value

Name: Please also complete cash receipt journal, thank you! Complete the pla
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Description: Please also complete cash receipt journal, thank you! Complete the plant asset record for the following asset. The business used the asset for the entire estimated useful life.HINT: the asset was only used the first 6 months in the year it was purcha

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Similar questions

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Cash receipt journal
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Also answer these questions please. 1) What is the difference between a debit memorandum and a credit memorandum? 2) What is the difference between a sales discount, a sales return and a sales allowance? 3) Explain the function of the sales journal and the cash receipts journal.
Post the transactions from each journal provided, cash payments and general, into the appropriate accounts in the general ledger.
Required Prepare the CASH RECEIPTS JOURNAL Prepare the CASH DISBURSEMENTS JOURNAL
i need Sales journal and Cash Receipts Journal. thanks