Adjusting entry: On 30 April 2021, Design Thinking Pty Ltd purchasednew office equipment for $30,000 to use in running online trainingevents. The depreciation charge for the office equipment is $6,000 peryear.Instructions: Record the adjusting entry for the year ending 31 August2021 by selecting the correct accounts and amounts that are debited andcredited.General JournalAugust[ Select ][ Select ]31.[ Select ]>>>

The depreciation expense is charged on fixed assets as reduced value of the fixed asset with usage…

Answered: djusting entry: On 30 April 2021,…

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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What is the adjusted balance of accounts payable on December 31, 2021? a. P158,000 b. P138,000 c. P118,000 d. P108,000
Required information Exercise 11-23 (Algo) Change in estimate; useful life and residual value of equipment [LO11-2, 11-5] [The following information applies to the questions displayed below.] Wardell Company purchased a mainframe on January 1, 2019, at a cost of $57,000. The computer was depreciated using the straight-line method over an estimated five-year life with an estimated residual value of $6,000. On January 1, 2021, the estimate of useful life was changed to a total of 10 years, and the estimate of residual value was changed to $1,200. Exercise 11-23 (Algo) Part 1 Required: 1. Prepare the year-end journal entry for depreciation in 2021. No depreciation was recorded during the year. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Round your final answer to nearest whole dollar.) X Answer is complete but not entirely correct. No Event General Journal Debit Credit 1 1 Depreciation expense 4,500 X Accumulated…
Current Attempt in Progress Sunland Company collected $15760 in May of 2021 for 4 months of service which would take place from October of 2021 through January of 2022. The revenue reported from this transaction during 2021 would be: O $0. O $11820. O $15760, O $3940. Save for Later Attempts: 0 of 1 used Submit Answer
dbm 105 fund x DBM 105.pdf Home Question Z Not yet answered tps://eclass.uonbi.ac.ke/mod/quiz/attempt.php?attempt=876769&cmid=38254&page=1 Marked out of 10.00 Flag question IO X Events Dashboard My Courses This course Joe Durango prepared the following trial balance from the accounting records of his firm, Dango Traders. TAKE AWAY CAT DUE SUNDAY 3 X Sales Sales Returns and Allowances - Durango Traders Trial Balance As at 31.7.2019 Purchases Purchases Returns and Allowances Freight-in Advertisement Salaries Administrative Expenses Stationery and Printing Office Equipment at Cost Accumulated Depreciation: Office Equipment Capital: J.Durango 1/8/2018 Drawings: J.Durango Cash Trade Debtors Trading Inventory 1/8/2018 Prepaid Insurance Dr.(Kshs) Cr.(Kshs) 675,000 2,250 436,500 11,700 2,250 52,200 3.150 4.050 27,000 45,000 78,235 10,350 70,650 1,620 3,150 10,125 49.480 CAT-LDP 109: FUNDAMENTALS x + X hp W
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à Levidia - Levidia.ch m Acc III-June 23 i :30 Mc Prepare entries to record the following non-strategic investment transactions of Arrowhead Investment Corporation. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Do not round intermediate calculations. Round your final answers to the nearest whole dollar amount.) 2023 Mar. 1 Paid $69,980 to purchase a $69,000, two-year, 9.5% bond payable of Action Corporation dated March 1. There was a $85 transaction fee included in the above-noted payment amount. Interest is paid quarterly beginning June 1. Management intends to actively trade bond purchases. Bought 2,600 common shares of Brandon Motors at $26.00. There was a $85 transaction fee included in the above-noted payment amount. Apr. 16 May 2 Paid $50,968 to purchase a five-year, 7.00 %, $52,000 bond payable of Collingwood Corporation. There was a $85 transaction fee included in the above-noted payment amount. Interest is paid…
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cation.wiley.com/was/u/2/assessment-player/index.html?launchid=224b70b7-1b94-43ae-b336-3b8651474636#/question/3 mapter 10 Question 4 of 7 Jan. 1 Here are selected 2022 transactions of Sarasota Company. June -30 Dec. 31 Date w Question 4 of 7 - Homewor Retired a piece of machinery that was purchased on January 1, 2012. The machine cost $60,300 and had a useful life of 10 years with no salvage value. Sold a computer that was purchased on January 1, 2019. The computer cost $45,000 and had a useful life of 5 years with no salvage value. The computer was sold for $15,100 cash. Discarded a delivery truck that was purchased on January 1, 2018. The truck cost $41,940. It was depreciated based on a 6-year useful life with a $3,000 salvage value. Journalize all entries required on the above dates, including entries to update depreciation on assets disposed of where applicable. Sarasota Company uses straight-line depreciation. (Assume depreciation is up to date as of December 31, 2021.) (List…
Subject-accounting
y courses / BUSS 104-1-20202 / MAKEUP TEST SCHEDULED FOR Thursda E (06-05-2021 from 11:00 to 12: Noon) The XYZ Company had the following income statement on 31.12.2020 Deprecation 5000 Net income 110000 OMR The following accounts decreased during 2020: Accounts receivable 24000 inventory 18000 OMR, Rent payable 15000, Machinery 15000 OMR The following accounts increased during 2020:Notes receivable 14000 Accounts Payable 8000 long term Bonds payable 30000 OMR Calculate cash flows from operating activities Select one: Oa. 149000 OMR O b. NONE OF THESE O c. 136000 OMR O d. 145000 OMR

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