Chapter 8, Problem 18Q

Required: Prepare the necessary journal entry for the October 5 transaction. Cr. " " Prepare the necessary journal entry for the October 16 transaction. Dr. Cr. $ $ $ Prepare the necessary journal entry for the October 31 transaction. Remember: Items in this compound journal entry MUST be listed in their descending order of value for the purpose of being graded correctly by Moodle. Dr. " $ Cr. Cr. " " $

Journal 1. Record the payroll for March, including employee deductions.Journal 2. Record the employer's payroll taxes.Journal 3. Record the entry to show the payment of amounts owed to governmental agencies.

Set the below answers to zero decimal places. On September 22, 2023, Phantom Inc. purchased machinery for $190,000. Residual value was estimated to be $10,000. The machinery will be depreciated over eight years using the sum-of-the-years’-digits method. If depreciation is computed on the basis of the nearest full month, how much depreciation expense for 2024 on this machinery should Marvel record?    B. Bower Co. purchased equipment in January of 2014 for $90,000. The equipment was being depreciated on the straight-line method over an estimated useful life of 20 years, with no residual value. At the beginning of 2024, when the equipment had been in use for 10 years, the company paid $15,000 to overhaul the equipment. As a result of this improvement, the company estimated that the useful life of the equipment would be extended an additional 5 years. What should be the depreciation expense recorded for this equipment in 2024?    C.    In January, 2024, Sparkle Corporation purchased a…