USKisel imancist Accounting, SeHolo etert AmouncementsCALCUEATORER coef Exendise 9-8els office equipment on July 31, 2017, for $20,340 cash. The office equiprnent originally cost $79,190 and as of January 1, 2017, had accumulated depreciation of $38,580. Depreciation fr the fre$4,080t entres to (a) update depreciation to July 31, 2017, and (b) record the sale of the equipment. (Credit account titles are automatically indented when amount is entered. Do not indent nanuar nreired sefect No Entry for the account titles and enter 0 for the amounts.)No Account Titles and ExplanationDebitCreditClick if you would like to Show Work for this question:Open Show WorkSHOW LIST OF ACCOUNTSLIN TO TEXTINTERACTIVE TUTORIALQuestion Attempts: 0 of 3 usedSAVE FOR LATERSUBHIT ANSW Kimmel, Financial Accounting, 8eHelp I System Announcementsef Exercise 9-8horse Co. sells office equipment on July 31, 2017, for $20,340 cash. The office equipment originally cost $79,190 and as of January 1, 2017, had accumulated depreB0.are the journal entries to (a) update depreciation to July 31, 2017, and (b) record the sale of the equipment. (Credit account titles are automatically indented-Fred, select "No Entry" for the account titles and enter 0 for the amounts.)ccount Titles and ExplanationDebitCreditou would like to Show Work for this question: Open Show WorkST OF ACCOUNTSEXTINTERACTIVE TUTORIALQue

PLEASE GIVE A LIKE, your response matters (a) Depreciation expense $4,000…

Diel Exe tioe eouipment on July 31, 2017, for $20,340 cash. The office equipment originally cost $79,190 and as of January 1, 2017, had accumulated depreciation of $38,580. Depreciation for the fet the journal entries to (a) update depreciation to July 31, 2017, and (b) record the sale of the equipment. (Credit account titles are automatically indented when amount is entered. Do pattt ir sedct "No Entry for the accoumt titles and enter 0 for the amounts.) No Accont Titles and Explanation Debit Credit ck if you would like to Show Work for this question: Open Show Work

Diel Exe tioe eouipment on July 31, 2017, for $20,340 cash. The office equipment originally cost $79,190 and as of January 1, 2017, had accumulated depreciation of $38,580. Depreciation for the fet the journal entries to (a) update depreciation to July 31, 2017, and (b) record the sale of the equipment. (Credit account titles are automatically indented when amount is entered. Do pattt ir sedct "No Entry for the accoumt titles and enter 0 for the amounts.) No Accont Titles and Explanation Debit Credit ck if you would like to Show Work for this question: Open Show Work

Century 21 Accounting General Journal

11th Edition

ISBN:9781337680059

Author:Gilbertson

Publisher:Gilbertson

Chapter19: Accounting For Plant Assets, Depreciation, And Intangible Assets

Section: Chapter Questions

Problem 6AP

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Subject: acounting
Your staff person has provided you with the following journal entry for January 20x1 depreciation. The monthly deprecation is supposed to be $100.00. What is wrong with this entry?
Knowledge Check 01 On October 1, equipment costing $10,700, on which $7,070 of accumulated depreciation has been recorded (through that date) was sold for $2,070 cash. Prepare the appropriate journal entry for the sale of the equipment. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.)
What would be the correct entry for part b
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Help I SYstem CES Sandhill Co. had the following assets on January 1, 2017. Useful Life (in years) Salvage Value $0 Cost Purchase Date Item 10 Machinery $65,320 Jan. 1, 2007 5 Forklift 27,600 Jan. 1, 2014 8. 2,760 30,728 Jan. 1, 2012 Truck During 2017, each of the assets was removed from service. The machinery was retired on January 1. The forklift was sold on June 30 for $11,040. The truck was discarded on Decemb Journalize all entries required on the above dates, induding entries to update depreciation, where applicable, on disposed assets. The company uses straight-line depreciation. All depr (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account title Debit Credit Date Account Titles and Explanation (To record depreciation expense on forklift) June 30 (To record sale of forklift) (To record depreciation expense on truck) Dec. 31 (To record sale of truck)
agen.wileyplus.com/edugen/Iti/maincun JS Kimmel, Financial Accounting, 8e Help I System Announcements CALCULATOR PRINTER VERSION BA Brief Exercise 9-11 Suppose Nike, Inc. reported the following plant assets and intangible assets for the year ended May 31, 2017 (in millions): other plant assets $945.0, land $230.0, patents and trademarks (at cost) $530.0, machinery and equ $2,200.0, buildings $960.0, goodwill (at cost) $170.0, accumulated amortization $57.0, and accumulated depreciation $2,220.0. Prepare a partial balance sheet for Nike for these items. (List Property, Plant and Equipment in order of Land, Buildings and Equipment.) NIKE, INC. Partial Balance Sheet As of May 31, 2017 (in millions) k if you would like to Show Work for this question: Open Show Work INTERACTIVE TUTORIA IK TO TEXT %24
KMy I Print Item Use the following excerpts from Zowleski Company's financial information. Dec. 31, Dec. 31, 2018 2017 Cash $93,200 $85,000 Accounts Receivable 21,800 22,700 Merchandise Inventory 139,000 131,000 Plant Assets 185,000 155,000 Accumulated Depreciation (25,000) (21,000) Total Assets $414,000 $372,700 Accounts Payable $18,000 $21,000 Notes Payable 135,500 120,000 Common Stock 20,000 20,000 Retained Earnings 240,500 211,700 Total Liabilities and Equity $414,000 $372,700 Additional Information: Net Income for 2018 $28,800 Depreciation Expense for 2018 (Accumulated Depreciation Increase) 4,000 Plant Assets Purchased (Plant Assets Increase), Finance by Note 30,000 Notes Payable Increased by Amount of Plant Assets Purchase 30,000 Notes Payable Decreased by Amount of Principal Note Payments 14,500 Prepare a statement of cash flows (indirect method) for the year 2018. Use the mius sign to indicate cash outflows, a decrease in cash or cash payments. Zowleski Company Statement of…
S Kimmel, Finascial Accosanting, Be 7ele 1 Botera Arnouncernents Exervise 12-3 Your answer is partially correct. Try again. Seare Cop, reported net income of $194,740 for 2017. Blue Spruce Corp. also reported depreciation expense of $36,900 and a loss of $5,030 on the disposal of plant assets. The comparative balance sheo show an in accounts payable, and a $4,250 increase in prepaid expenses. Bmare the ooerating activities section of the statement of cash flows for 2017. Use the indirect method. (Show amounts that decrease cash flow with either a-sign eg.-15,000 or in parenthesis eg (25,00et Blue Spruce Corp. Partial Statement of Cash Flows For the Year Ended December 31, 2017 Cash Flaws from Operating Activities 194740 Net Income Adjustments to reconcile net income to Net Decrease in Cash 36900 Depreciation Expense 5030 Loss on Disposal of Plant Assets V 15650 Increase in Accounts Receivable Y 15880 Increase in Accounts Payable 4250 ncrease in Prepaid Expenses 46410 241150 Cash Flows…
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