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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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?
Original Cost POST. ... Accumulated Depreciation for Previous Years DATE DESCRIPTION REF. DEBIT CREDIT ... Book Value, Beginning Year 4 1 20xx ... Salvage Value 2 2. ... Revised Remaining Depreciation Cost 3 ... 4 Revised Useful Life 15 YEARS Revised Depreciation, Total Revised Depreciation, Per Year ...
Prepare the entry to record the sale of asset D for cash of $4,800. It was used for 6 years, and depreciation was entered under the composite method. (If no entry is required, select "No entry" for the account titles and enter O for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually. Use Plant Assets related account. List all debit entries before credit entries.) Account Titles and Explanation Accumulated Depreciation - Plant Assets Debit 2000 Credit Cash Plant Assets 4800 6800
Please Provide Correct Answer with calculation
Assets = A Liabilities = L Stockholders' Equity = SE On March 1st2018,Bulldozer Inc purchases a forklift for $65,000. The expected salvage value is $10,000 and the forklift is expected to have a useful life of 10 years. Calculate the first years depreciation expense as of 12/31/2018, utilizing the straight line method, and book the JE of the depreciation below. write a journal entry.
Question Description The original cost of a machine was $60,000. After $45,000 of depreciation was recorded, the machine was traded in on a new machine of like purpose priced at $75,000. A $10,500 trade-in allowance was received on the old machine and the balance of $64,500 was paid in cash. Prepare the general journal entry to record this trade-in.
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…
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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.
< Champion Company purchased and installed carpet in its new general offices on March 31 for a total cost of $18,000. The carpet is estimated to have a 15- year useful life and no residual value. a. Prepare the journal entries necessary for recording the purchase of the new carpet. If an amount box does not require an entry, leave it blank Mar. 311 b. Record the December 31 adjusting entry for the partial-year depreciation expense for the carpet assuming that Champion Company uses the straight-line method. If an amount box does not require an entry, leave it blank Dec. 31
I need the debit and credit of the accounts Information given Land- 6,304, 800 Notes payable- 5,569,240 PPE-