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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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.)
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
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…
prepare consolidated financial statement
MMyOpenMath C https://N2.ceng... eBook BShow Me How EPrint Item Adjustment for depreciation Instructions Chart of Accounts Journal Instructions The estimated amount of depreciation on equipment for the current year is $8,255. Journalize the adjusting entry to record the depreciation. Refer to the Chart of Accounts for exact wording of account titles.
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R. Burke Trial Balance as at 31 December 2019 Gross profit Accumulated depreciation on office equipment Capital Accounts payable Cash at bank Accounts receivable Drawings Insurance Commission received Motor repairs Closing inventory Office equipment at cost DR$ 100 8350 5500 6300 750 3000 12500 36500 CR$ 19500 7500 4200 5000 300 36500 i. Insurance prepaid $20 ii. Motor repairs owing $60 iii. Depreciate office equipment at 20% using the reducing balance method Required: (i) Prepare R Burke's Income Statement for the year ended 31 December 2019.
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whats the income statement for this equation?
Balance Sheet as at As at 30/9/16 As at 30/9/15 $ $ Assets Current assets- Cash 8,200 9,400 Accounts Receivable 107,000 103,500 Inventory 82,700 71,300 Non-current assets less accumulated depreciation 242,600 245,700 Total assets 440,500 429,900 Liabilities and Owners' equity Current liabilities 117,000 120,000 Loan (repayable in 2019) 152,000 150,000 Total liabilities 269,000 270,000 Owners' equity 171,500 159,900 Total Liabilities and Owners' equity 440,500 429,900 Summarised Income Statement of Bishan Enterprise for the year ended 30 September 2016 $ Sales 990,000 Cost of goods sold 580,000 Gross profit 410,000 Operating expenses 350,000 Net profit 60,000 · Note - The owner withdrew $48,400 during 2016. Required: Calculate…
Subject/Course: Financial Accounting.
STATEMENT OF FINANCIAL POSITION AS AT DECEMBER 31 All answers round to two decimal places except (c) & (e), eg 54.544 input as 54.54, 54.545 input as 54.55 2019 2018 2017 2$ $ $ 2019 2018 times Plant and equipment (net) 500,000 466,000 440,000 a)Current ratio 5.11 times times times Intangible Assets 580,000 480,000 412,000 b) Acid Test Ratio times times Short Term Investments 56,000 140,000 97,200 b)lnventory Turnover Prepaid Insurance (less than 12 months) 4,000 4,000 3,800 c)Average days to sell inventory 100 Days Days (Round to days, no decimal place required) Inventory 126,000 119,000 79,000 d)Accounts Receivable turnover times times (Assume all the sale are credit sales) Accounts receivables (net) 54,000 48,000 60,000 e) Average Collection Period Days Days (Round to days, no decimal place required) % Cash 220,000 144,000 122,000 f)Profit Margin 1,540,000 1,401,000 1,214,000 g)Return on Assets times times h)Asset Turnover % Accounts Payable 80,000 100,000 100,000 i) Return on…