adyJournalNote: Start each entry on a starred row.Note: Use the gray-shaded cell for each entry to select the transaction descriptionAccountsPRDate2024Apr 12 CashDec 31 Amortization ExpenseDec31 Depletion ExpenseScore SummaryAccessibility InvestigateSold the machineRecord amortizationAccumulated DepletionRecord depletionGain-Loss Calcs JournalDebit43,500Credit A8 CD1 Asset Disposal-sale of asset--Intro-Ziebold Corporation23 Three transactions from 2024 for Ziebold Corporation are described below.4 Optional: Use the Gain-Loss Calculations template if it's useful.5 Required:6 Using the information provided here, record the following journal entries:1. Apr 12 Ziebold Corporation sold a machine that cost $104,000 and had accumulated depreciation of $65,000, for$43,500.72. Dec 31 --Recorded the adjusting entry for a patent acquired for $1,000,000, with an estimated useful life of 16years.893.Dec 31-Recorded the adjusting entry for copper ore mined during the year. Zebold had purchased 900,000tons of copper are for $6,400,000. During the year, Ziebold mined 80,000 tons of the ore. (Round per unitamounts to the nearest penny, 2 decimal places, and round dollar amounts to the nearest dollar, zero decimalplaces.)13141516171819 ★20JournalNote: Start each entry on a starred row.Note: Use the gray-shaded cell for each entry to select the transaction descriptionAccountsPRDate2024Apr 12 CashEScore SummaryGain-Loss CalcsJournalDebit43,500CreditA

Apr 12 Cash a/c Dr. $43,500 Accu. depreciation. Dr.$65000…

Journal Note: Start each entry on a starred row Note: Use the gray-shoded cell for each entry to select the transaction description Accounts PR Date 2024 Apr 12 Cash Dec Dec 31 Amortization Expense 31 Depletion Expense Score Summary Sold the machine Record amortization Accumulated Depletion Record depletion Gain-Loss Calcs Journal Debit 43,500 Credit

Journal Note: Start each entry on a starred row Note: Use the gray-shoded cell for each entry to select the transaction description Accounts PR Date 2024 Apr 12 Cash Dec Dec 31 Amortization Expense 31 Depletion Expense Score Summary Sold the machine Record amortization Accumulated Depletion Record depletion Gain-Loss Calcs Journal Debit 43,500 Credit

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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help please answer in text form with proper workings and explanation for each and every part and steps with concept and introduction no AI no copy paste remember answer must be in proper format with all working
Post the folowing using T-Accounts
Edit View History Bookmarks Profiles Tab Window Help Question 5 - Proctoring Enable X + getproctorio.com/secured #lockdown octoring Enabled: Chapter 3 Required Homewor... D W 5 The trial balance for Canton Incorporated, listed the following account balances at December 31, 2024, the end of Canton Incorporated's fiscal year: cash, $32,000; accounts receivable, $27,000; inventory, $41,000; equipment (net), $96,000; accounts payable, $30,000; salaries payable, $13,000; interest payable, $9,000; notes payable (due in 20 months), $46,000; common stock, $82,000. Current assets Current liabilities ↑ Please calculate total current assets and total current liabilities that would appear in the year-end balance sheet of Canton Incorporated. #3 E с 54 $ R % G Search or type URL 5 T < Prev 5 of 5 Saved A 6 MacBook Pro Y & 7 Next * 00 8 + 9 O E 0 Help P | 1 50% * Save & Exit 0 + 11
AutoSave OFF Home Insert Draw Paste Page 47 of 95 Calibri B I U 20 Design V v 16916 words 50 ab X 2 V Layout X Α Α΄ A References Aa ▾ A Αν English (United States) Mailings = Review V V W= Packet Lecture-4 View 12/31 싫 V Accessibility: Investigate Tell me 30,000 V Estimating Uncollectible Accounts An estimate of bad debts is made at the end of the accounting period to match the cost of credit sales (bad debt expense) with the revenue credit sales allowed the company to record during the period. The estimate is incorporated in the company's books through an ADJUSTING ENTRY and the entry increases the allowance for uncollectible accounts and bad debt expense. Saved to my Mac ✓ Percent of Receivables Method (an allowance method) management estimates a percent of ending accounts receivable they expect to be uncollectible the ending balance of the Allowance for Uncollectible Accounts (AUA) is determined based on the estimate (% of uncollectible accounts x ending balance of A/R, "% of A/R").…
Instructions 1 Record entry to write off the $15,000 receivable which is over 75 days outstanding 2 Calculate the desired credit balance in the Allowance for Doubtful Account using the chart above 3 Assuming prior to any adjusting entries the balance in the Allowance for Doubtful Accounts had a credit balance of $40,000, record the year ending adjusting entry for bad debts.
MENT OF EDU ASSIGNMENTOFFICL OF CAM 26 The folowing are the transactons of Clam Rado dectranics repair shop for the month af December 2019. Clara Rado nvested the tollowing in hernewly opened electronic repiair shop Cash Equipment P 50,000 30,000 b. Purchased oftice supplies worth P 4.000 in cash. C. Pad rent for the shop space, P 4.000. d. Purchased equipment, P 20,000 with 50% down payment and the balance on account. e. Rendered service to cient, cash P 70,000. t Paid the salary of shop assistant, P 7,000. 9 Rendered nervices to dinnta worth P 30,000 canh andP S5,000 promissory notes, h Collected P30.000 of the account receivables. i Suted the acounts payable CATTON hase d equpment on transaction letter D. + Paid electric bil f P 2.000: water bill P 500, and kelephone billP 500. Required: 1. Using the yelow pad paper, record the appropriate joumal entries. 2 Post the transactions to general ledger using the T-account 27 3. Prepare the Trial Balance, tor the month of September.…
Account Name Debit Amount Credit Amount Create a Journal Entry Gaston owns equipment that cost $90,000 with accumulated depreciation of $68,000. Gaston sells the equipment for $25,000. Prepare the journal entry to record the disposal of the equipment and enter it below.
Practice chpt 5 - Co X A ezto.mheducation.com/ext/map/index.html?_con=con&external browser=D0&launchUrl=https%253A%252F%252Fdcccd.blackboar ce chpt 5 A Saved At the end of 2021, Worthy Co's balance for Accounts Receivable is $24,000, while the company's total assets equal $1,540,000. In addition, the company expects to collect all of its receivables in 2022. In 2022, however, one customer owing $4,000 becomes a bad debt on March 14. Record the write off of this customer's account in 2022 using the direct write-off method. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) Rook View transaction list Journal entry worksheet Print erences Record the write off of this customer's account in 2022 using the direct write off method. Note: Enter debits before credits. Date General Journal Debit Credit March 14, 2022 Record entry Clear entry View general journal raw Type here to search Ps DII PrtScn Hom F3 F7 F8 近

Journalize Bad Debts estimated to be $1,100. Edit View Insert Format Tools Table 12pt v Paragraph v BIUA O words
Cornerstone Exercise 5-28 Aging Method On December 31, 2021, Khalid Inc. has the following balances for accounts receivable and allowance for doubtful accounts: Accounts Receivable Allowance for Doubtful Accounts (a credit balance) During 2022, Khalid had $18,500,000 of credit sales, collected $17.945,000 of accounts receivable, and wrote off $60,000 of accounts receivable as uncollectible. At year-end. Khalid performs an aging of its accounts receivable balance and estimates that $52,000 will be uncollectible. Required: 1. Calculate Khalid's preadjustment balance in accounts receivable on December 31, 2022. $1,280,000 44,000 2. Calculate Khalid's preadjustment balance in allowance for doubtful accounts on December 31, 2022. 3. Prepare the necessary adjusting entry for 2022. Dec. 31 (Record adjusting entry for bad debt expense estimate)
Home Insert Page Layout Formulas Data Review View Help - 10 - A A Insert v Σ Arial ab General EXDelete v BIU $- % 9 0 0 Conditional Format as Cell Sort & Formatting Table - Styles v Format v Filter oard Font Alignment Number Styles Cells Editing fr C D H. The following amounts summarize the financial position of Little Black Dog Inc. on May 31, 2021: В F G IJK L M N O P Q R S V W Assets Liabilities Shareholders' Equity %D Cash + Accounts Computers + + Supplies + Land Accounts + Note Salaries + Interest Common + Retained Receivable (net) Payable Payable Payable Payable Shares Earnings Balance 1820 700 70 8400 5600 2800 2590 During June 2021, the business completed these transactions: June 1: Received cash of $6300 and issued common shares. June 1: Bought two computers for a total of $5600 by paying $1400 down and signing a note payable for the rest. Interest of 5% to be paid with the note payable on June 1, 2022. The computers are expected to last 5 years. June 5: Performed services for…
File Home Insert Draw Page Layout Formulas Data Review View Help Editing Arial V 10 Merge Currency ... B8 fx A 1. Amortization schedule 2. 3. Loan amount to be repaid (PV) $30,000.00 Interest rate (r) 4. Length of loan (in years) 8.00% 6. 7. a. Setting up amortization table Formula 8. Calculation of loan payment #N/A 6. Repayment of Principal 10 Year Beginning Balance Payment Interest Remaining Balance 11 1 12 13 3 14 15 b. Calculating % of Payment Representing Interest and Principal for Each Year Payment % Representing Payment % Representing Principal Check: Total = 16 Year Interest 100% 17 1 18 19 20 21 Formulas = A Sheet1 Calculation Mode: Automatic Workbook Statistics LL 2 3