Using the information given complete the table given below:Additional information:a. Annual depreciation of the equipment; $11,500.b. $12,000 of the Prepaid Insurance balance has expired.c. Unbilled and unrecorded revenues at year-end totalled $31,000.Required:Use the information provided to complete the columns.CashAccounts receivablePrepaid insuranceEquipmentAccumulated depreciation, equipmentAccounts payableAbraham Nuna, capitalAbraham Nuna, withdrawalsRevenuesDepreciation expense, equipmentSalaries expenseInsurance expenseTotals$$NUNA MUSICTrial BalancesFebruary 28, 2023UnadjustedTrial BalanceDr.14,00032,00016,800102,000102,0000$Cr.23,00019,000213,000214,000187,70014.500469,000 $ 469,000AdjustmentsDr.Cr.AdjustedTrial BalanceDr.Cr.

Adjusted Trial Balance includes ledgers after providing adjusting entries to the same. Adjusting…

Answered: Using the information given complete…

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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Estimating the Percent Depreciated The property and equipment footnote from the Deere & Company balance sheet follows ($ millions): PROPERTY AND DEPRECIATION A summary of property and equipment at October 31, in millions of dollars follows: Land Buildings and building equipment Machinery and equipment Dies, patterns, tools, etc All other Construction in progress Total at cost Less accumulated depreciation Property and equipment - net $124 3,108 5,089 1,552 926 530 11,329 5,751 $5,578 During the year, the company reported $696 million of depreciation expense. Check Estimate the percent depreciated of Deere's depreciable assets. Round to one decimal place. %
The Annual Depreciation Expense be using straight-line depreciation will be $6250, the accounts would be used in the adjusting entry for a full year of depreciation will be Debit - Depreciation Expense, Truck</> Credit - Accumulated Depreciation, Truck. 13) Under the Fixed assets section of the balance sheet, what number would we put in the "Accumulated Depreciation, Truck" section for Year # 4 if depreciation is calculated ANNUALLY (assume Jan 1st, 2019 to Dec 31st, 2019 is Year #1).
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?
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
Alaska Mining Co. acquired mineral rights for $28,674,000. The mineral deposit is estimated at 16,200,000 tons. During the current year, 1,710,000 tons were mined and sold. Required: a. Determine the amount of depletion expense for the current year. b. Journalize the adjusting entry on December 31 to recognize the depletion expense. Refer to the Chart of Accounts for exact wording of account titles.
Solare Company acquired mineral rights for $647,400,000. The diamond deposit is estimated at 49,800,000 tons. During the current year, 3,300,000 tons were mined and sold. a. Determine the depletion rate. $ per ton b. Determine the amount of depletion expense for the current year. c. Journalize the adjusting entry to recognize the depletion expense. If an amount box does not require an entry, leave it blank. Debit Credit Date December 31 Account
Accounting
The ledger of Hillsboro Rental Agency on March 31 of the current year includes the following selected accounts before adjusting entries have been prepared. Assume no adjusting entries were made in Januaray or February either. Prepaid Insurance Supplies Equipment Accumulated Depreciation- Equipment Notes Payable Unearned Rent Revenue Rent Revenue Interest Expense Salaries and Wages Expense Debit $ 3,600 3,053 26,200 -0- 15,330 Credit $ 8,921 20,600 7,500 54,170
A truck costing S72,000 has accumulated depreciation of $48,000. The truck is sold for $8,500. The journal entry to record this transaction is to: O A. debit Cash for $8,500, debit Truck for $72,000, credit Accumulated Depreciation - Truck for $48,000 and credit Gain on Disposal for S32,500. O B. debit Cash for $15,500, debit Truck for $72,000, credit Accumulated Depreciation - Truck for $48,000, and credit Gain on Disposal for $8,500. OC. debit Accumulated Depreciation - Truck for $48,000, and credit Truck for $48,000. O D. debit Cash for $8,500, debit Accumulated Depreciation - Truck for $48,000, debit loss on Disposal for $15,500 , and credit Truck for $72,000.
I need the debit and credit of the accounts Information given Land- 6,304, 800 Notes payable- 5,569,240 PPE-

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