Prepare entries for delivery truck costs. 1. Paid €45 for an oil change. 2. Paid €580 to install special gear unit, which increases the operating efficiency of the truck. Prepare Tong's journal entries to record these two transactions.
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- Identify the letter for the principle or assumption from A through F in the blank space next to situation that it best explains or justifies: _________In December of this year, Chavez Landscaping received a customer’s order and cash prepayment to install sod at a house that would not be ready for installation until March of next year. Chavez should record the revenue from the customer order in March of next year, not in December of this year.4. Eng Tat is a manufacturer. His trial balance as at 31 December 2020 is as follows: Credit RM Particulars Debit RM Delivery van expenses Lighting and heating: Factory Office Manufacturing wages General expenses: Factory Office Sales representatives : Commission Purchase of raw materials 1,760 7,220 1,490 72,100 8,100 1,940 11,688 57,210 Rent: Factory Office Machinery (Cost : RM40,000) Office equipment ( RM9,000) Office salaries Accounts receivables Account payables Bank 6,100 2,700 28,600 8,200 17,740 34,200 9,400 16,142 Sales Van (cost RM6,800) Inventory at 31 December 2020: Raw materials Finished goods Drawings Capital 194,800 6,200 13,260 41,300 24,200 155,950 360,150 ТОTAL 360,150 Prepared by: Puan Siti Nor Junita Mohd Radzi Additional information: i. Inventory at 31 December 2020: a. Raw materials b. Finished goods ii. Depreciate machinery RM3,000; office equipment RM6,000; van RM1,200 iii. Manufacturing wages due but unpaid at 31 December 2020 RM550; office rent prepaid RM140…A transport company purchased a truck for RO 35, 000 to be used in the business. The manager estimates the value of the truck to be RO 45,000 in the market. If the Business follows Historical Cost concept, the amount to be recorded for the truck is a. RO 1,000 b. RO 35,000 c. RO 26,000 d. RO 41,000
- Sterling Forest Landscaping designs and installs landscaping. The landscape designers and office staff use office supplies, while field supplies (rock, bark, etc.) are used in the actual landscaping. Purchases on account completed by Sterling Forest Landscaping during October are as follows:Oct. 2. Purchased office supplies on account from Meade Co., $400.5. Purchased office equipment on account from Peach Computers Co., $3,980.9. Purchased office supplies on account from Executive Office Supply Co., $320.13. Purchased field supplies on account from Yamura Co., $1,420.14. Purchased field supplies on account from Omni Co., $2,940.17. Purchased field supplies on account from Yamura Co., $1,890.24. Purchased field supplies on account from Omni Co., $3,880.29. Purchased office supplies on account from Executive Office Supply Co., $310.31. Purchased field supplies on account from Omni Co., $1,800. Instructions 1. Insert the following balances in the general ledger as of October 1:14…Eng Tat is a manufacturer. His trial balance as at 31 December 2020 is as follows: Particulars Debit RM Credit RM Delivery van expenses 1,760 Lighting and heating: Factory Office 7,220 1,490 Manufacturing wages 72,100 General expenses: Factory Office 8,100 1,940 Sales representatives : Commission 11,688 Purchase of raw materials 57,210 Rent: Factory Office 6,100 2,700 Machinery (Cost : RM40,000) 28,600 Office equipment ( RM9,000) 8,200 Office salaries 17,740 Accounts receivables 34,200 Account payables 9,400 Bank 16,142 Sales 194,800 Van (cost RM6,800) 6,200 Inventory at 31 December 2020: Raw materials Finished goods 13,260 41,300 Drawings 24,200 Capital 155,950 TOTAL 360,150 360,150 Additional information: Inventory at 31 December 2020: Raw materials RM14,510 Finished…In the year ended 31 December 20X7 Bobby traded in for £3,430 a vehicle costing £6,000 on 1 November 20X5 against the cost (£4,800) of a replacement vehicle. The balance due for the new vehicle has been paid in cash and debited to the cost of vehicles account and credited to cash at bank. What net adjustment is required to the company's cost of vehicles account as a result of this transaction?
- Splish Corporation, which manufactures shoes, hired a recent college graduate to work in its accounting department. On the first day of work, the accountant was assigned to total a batch of invoices with the use of an adding machine. Before long, the accountant, who had never before seen such a machine, managed to break the machine. Splish Corporation gave the machine plus $388 to Blossom Business Machine Company (dealer) in exchange for a new machine. Assume the following information about the machines. Splish Corp. (Old Machine) Blossom Co. (New Machine) Machine $331 $308 Accumulated depreciation 160 –0– Fair value 97 485 For each company, prepare the necessary journal entry to record the exchange. (The exchange has commercial substance.) (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) Account Titles and Explanation Debit Credit Splish…Following are the transactions of Green Energy Company. May 1 The company provided $2,000 of sustainability consulting services on credit to a customer. May 3 The company purchased $300 of energy-efficient supplies on credit. May 9 The company collected $500 cash as partial payment of the May 1 consulting revenue. May 20 The company paid $300 cash toward the payable for energy-efficient supplies. May 31 The company paid $100 cash for May’s renewable energy Analyze each transaction of the Green Energy Company by showing its effects on the accounting equation—specifically, identify the accounts and amounts (including + or −) for each transaction. Use the following partial chart of accounts: Cash; Accounts Receivable; Supplies; Accounts Payable; Consulting Revenue; and Utilities Expense. Date Assets = Liabilities + Equity May 1 = + May 3 = + May 9 = + May 9 = + May 20 =…purchased the following supplies for use in the repair shop: Unit of Measure Quantity Purchased Item Price per Extended Unit Total Cost Shop Towels Rolls 120 $4 $480 Degreasing Fluid Quarts 75 $9 $675 Gasket Sealer Tubes 40 $6 $240 Total $1,395 rins On July 1, Martha paid cash for the supplies and set the accounting policy that all supplies would initially be recorded in the Supplies asset account. At the end of July, Martha counted the supplies that were left and prepared the following listing: Quantity Remaining Unit of Item Measure Shop Towels Rolls 80 Degreasing Fluid Quarts 65 Gasket Sealer Tubes 32 At the end of August, Martha counted the supplies that were left and prepared the following listing: Unit of Measure Quantity Remaining Item Shop Towels Rolls 55 Degreasing Fluid Quarts 48 Gasket Sealer Tubes 22 The following is a partial list of the accounts in Martha's General Ledger. These are the only accounts you need for this problem. D Cash D Supplies D Supplies Expense
- Plumb Line Surveyors provides survey work for construction projects. The office staff use office supplies, while surveying crews use field supplies. Purchases on account completed by Plumb Line Surveyors during May are as follows: May 1. Purchased field supplies on account from Wendell Co., $3,240. 3. Purchased office supplies on account from Lassiter Co., $340. 8. Purchased field supplies on account from Tri Cities Supplies, $4,500. 12. Purchased field supplies on account from Wendell Co., $3,670. 15. Purchased office supplies on account from J-Mart Co., $500. 19. Purchased office equipment on account from Accu-Vision Supply Co., $8,150. 23. Purchased field supplies on account from Tri Cities Supplies, $2,450. 26. Purchased office supplies on account from J-Mart Co., $265. 30. Purchased field supplies on account from Tri Cities Supplies, $3,040. Instructions 1. Insert the following balances in the general ledger as of May 1: $ 6,200 1,490 14 Field Supplies 15 Office Supplies 18 Office…On February 13, GTS Co. paid $2,300 to repair the transmission on one of its delivery vans. In addition, GTS paid $36 to install a GPS system in its van. Question Content Area Journalize the entries for the transmission. If an amount box does not require an entry, leave it blank. Date Account Debit Credit February 13 Feedback Area Feedback Question Content Area Journalize the entry for GPS system expenditures. If an amount box does not require an entry, leave it blank. Date Account Debit Credit February 13Received a $760 deposit from a customer who wanted her piano rebuilt in February. how would you Record the transaction.