Date January 02 January 02 January 03 January 30 February 01 March 01 March 01 Assets Liabilities + + + + Stockholders' Equity
Date January 02 January 02 January 03 January 30 February 01 March 01 March 01 Assets Liabilities + + + + Stockholders' Equity
College Accounting, Chapters 1-27
23rd Edition
ISBN:9781337794756
Author:HEINTZ, James A.
Publisher:HEINTZ, James A.
Chapter20: Corporations: Organization And Capital Stock
Section: Chapter Questions
Problem 5MC: Treasury stock is listed as a(n) __________ on the balance sheet. (a) current liability (b) current...
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Precision Construction entered into the following transactions during a recent year.
January 2 | Purchased a bulldozer for $254,000 by paying $22,000 cash and signing a $232,000 note due in five years. |
---|---|
January 3 | Replaced the steel tracks on the bulldozer at a cost of $22,000, purchased on account. The new steel tracks increase the bulldozer's operating efficiency. |
January 30 | Wrote a check for the amount owed on account for the work completed on January 3. |
February 1 | Repaired the leather seat on the bulldozer and wrote a check for the full $1,000 cost. |
March 1 | Paid $4,800 cash for the rights to use computer software for a two-year period. |
Required:
-
1-a. Complete the table below, for the above transactions. (Enter any decreases to Assets, Liabilities, or
Stockholders' Equity with a minus sign.)

Transcribed Image Text:Date
January 02
January 02
January 03
January 30
February 01
March 01
March 01
Assets
Liabilities
+
+
+
+
Stockholders' Equity
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