User Additional information: a. Annual depreciation of the equipment; $11,800. b. $12,309 of the prepaid insurance balance has expired c. Unbilled and unrecorded revenues at the year end totaled $31,300. Required: Use the information provided to complete the columns Unadjusted trial balance. Cash debit 14,800 Account receivable debit 32,800 Prepaid insurance debit 17,100 Equipment debit 103,500 Accumulated depreciation, equipment credit 23,300 Account payable credit 19,300 Abraham Nuna, capital credit 216,300 Abraham Nuna withdrawals debit 103,500 Revenues credit 217,600 Depreciation expense, equipment O Salaries expense debit 190,700 Insurance expense debit 14,800 Total debit 476,200 Total credit 476,200 What's the Adustment and Adjusted to trial balance

User Additional information: a. Annual depreciation of the equipment; $11,800. b. $12,309 of the prepaid insurance balance has expired c. Unbilled and unrecorded revenues at the year end totaled $31,300. Required: Use the information provided to complete the columns Unadjusted trial balance. Cash debit 14,800 Account receivable debit 32,800 Prepaid insurance debit 17,100 Equipment debit 103,500 Accumulated depreciation, equipment credit 23,300 Account payable credit 19,300 Abraham Nuna, capital credit 216,300 Abraham Nuna withdrawals debit 103,500 Revenues credit 217,600 Depreciation expense, equipment O Salaries expense debit 190,700 Insurance expense debit 14,800 Total debit 476,200 Total credit 476,200 What's the Adustment and Adjusted to trial balance

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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nt Oaktree Company purchased new equipment and made the following expenditures: Purchase price Sales tax $46,000 2, 300 Freight charges for shipnent of equipnent Insurance on the equipnent for the first year Installation of equipment 71e 910 1,100 The equipment, including sales tax, was purchased on open account, with payment due in 30 days. The other expenditures listed above were paid in cash. Required: Prepare the necessary journal entries to record the above expenditures. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) Journal entry worksheet > Record the purchase of equipment. Note: Enter debits before credits. Transaction General Journal Debit Credit Journal entry worksheet 11 Record any expenditures not capitalized in the purchase of equipment. Note Peter Oebits before credita Transaction General Journal Debit Credit 21
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Required information [The following information applies to the questions displayed below.] a. Depreciation on the company's wind turbine equipment for the year is $5,300. b. The Prepaid Insurance account for the solar panels had a $2,300 debit balance at December 31 before adjusting for the costs of any expired coverage. Analysis of prepaid insurance shows that $750 of unexpired insurance coverage remains at year-end. c. The company received $3,900 cash in advance for sustainability consulting work. As of December 31, one-third of the sustainability consulting work had been performed. d. As of December 31, $1,500 in wages expense for the organic produce workers has been incurred but not yet paid. e. As of December 31, the company has earned, but not yet recorded, $430 of interest revenue from investments in socially responsible bonds. The interest revenue is expected to be received on January 12. or each of the above separate cases, prepare the required December 31 year-end adjusting…
gnment/takeAssignmentMain.do?invoker-&takeAssignmentSessionLocator-&inprogress-false Book Show Me How Calculator Print Item Comparing three depreciation methods Depreciation Expense Final Questions Instructions Dexter Industries purchased packaging equipment on January 8 for $72,.000. The equipment was expected to have a useful life of three years, or 18,000 operating hours, and a residual value of $4,500. The equipment was used for 7,600 hours during Year 1, 6,000 hours in Year 2, and 4,400 hours in Year 3. Required: 1. Determine the amount of depreciation expense for the three years ending December 31, by (a) the straight-line method, (b) the units-of-activity method, and (c) the double-declining-balance method, Also determine the total depreciation expense for the three years by each method. (Note: For DECLINING BALANCE ONLY, round the multiplier to five decimal places. Then round the answer for each year to the nearest whole dollar) 2. What method yields the highest depreciation…
Supplies 1,400 f. Equipment was purchased on January 1 of this year at a cost of $60,000. The equipment's useful life is five years. There is no residual value. Record depreciation for this vear and then determine the equipment's book value Journal Entry Accounts Debit Credit Depreciation Expense-Equipment Accumulated Depreciation-Equipment 60.000 f. 60,000 (? Choose from any list or enter any number in the input fields and then click Check Answer. 1 part remaining Clear All Check Answer 11:17 PM P Type here to search 9/14/2020 insert esc & #3 %24 backspace 8. Q tab Jock G. K pause NE M. alt ctri alt 1.
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