FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Transcribed Image Text:ady
Journal
Note: Start each entry on a starred row.
Note: Use the gray-shaded cell for each entry to select the transaction description
Accounts
PR
Date
2024
Apr 12 Cash
Dec 31 Amortization Expense
Dec
31 Depletion Expense
Score Summary
Accessibility Investigate
Sold the machine
Record amortization
Accumulated Depletion
Record depletion
Gain-Loss Calcs Journal
Debit
43,500
Credit
Transcribed Image Text:A
8 C
D
1 Asset Disposal-sale of asset--Intro-Ziebold Corporation
2
3 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.
7
2. Dec 31 --Recorded the adjusting entry for a patent acquired for $1,000,000, with an estimated useful life of 16
years.
8
9
3.
Dec 31-Recorded the adjusting entry for copper ore mined during the year. Zebold had purchased 900,000
tons of copper are for $6,400,000. During the year, Ziebold mined 80,000 tons of the ore. (Round per unit
amounts to the nearest penny, 2 decimal places, and round dollar amounts to the nearest dollar, zero decimal
places.)
13
14
15
16
17
18
19 ★
20
Journal
Note: Start each entry on a starred row.
Note: Use the gray-shaded cell for each entry to select the transaction description
Accounts
PR
Date
2024
Apr 12 Cash
E
Score Summary
Gain-Loss Calcs
Journal
Debit
43,500
Credit
A
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