P8-6 Part 2 2. For each of these the assets Involved in transactions (a) through (f), record the adjusting entry for depreciation or amortization expense at the end of the current year. Note: If no entry is required for a transaction/event, select "No Journal entry required" In the first account field. View transaction list Journal entry worksheet 2 3 5 6 On December 31 of the current year, sold Machine A for $6,700 cash. Original cost was $24,000; accumulated depreciation to December 31 of the prior year was $16,800 (on a straight-line basis with a $3,000 residual value and five- year useful life). Record the sale. Note: Enter debits before credits. Transaction e General Journal Debit Credit Record entry Clear entry View general journal

Only need help with part B

Required information P8-8 (Algo) Determining Financial Statement Effects of Activities Related to Various Long-Lived Assets LO8-2, 8-3, 8-6 [The following information applies to the questions displayed below.] During the current year ending on December 31, BSP Company completed the following transactions: a. On January 1, purchased a patent for $29,000 cash (estimated useful life, five years). b. On January 1, purchased the assets (not detailed) of another business for $153,000 cash, including $14,000 for goodwill. The company assumed no liabilities. Goodwill has an indefinite life. c. On December 31, constructed a storage shed on land leased from D. Heald. The cost was $29,600. The company uses straight-line depreciation. The lease will expire in six years. (Amounts spent to enhance leased property are capitalized as intangible assets called Leasehold Improvements.) d. Total expenditures for ordinary repairs and maintenance were $5,300 during the current year. e. On December 31 of the…

Compute the following: a. Carder & Company purchased equipment for $24,000 with a useful life of eight years and no expected salvage value. Prepare the adjusting entry for the first year using the straightline depreciation method. Omit explanations. If an amount box does not require, leave it blank. Page: 1   DATE DESCRIPTION POST.REF. DEBIT CREDIT   1 a.     fill in the blank a56629fe4031fb0_2 fill in the blank a56629fe4031fb0_3 1 2       fill in the blank a56629fe4031fb0_5 fill in the blank a56629fe4031fb0_6 2 a. Carder & Company purchased equipment for $24,000 with a useful life of eight years and no expected salvage value. Compute the book value at the end of the second year of the equipment's life. Book Value $fill in the blank bd8c2300bf8af95_1 b. DAC Company pays its employees every Friday. On January 2, 20--, the Company paid $6,000 for the 5 days beginning the previous December 29. Prepare the adjusting entry on December 31. Omit…

This section of the balance sheet represents asset subaccounts that typically can be liquidated within a 1-year period from the statement date. Current liabilities Current assets Net assets O Non-current assets

Visit www.sec.gov/edgar and search for the BJ's Wholesale annual report (10-K) for the year ended February 1, 2020, using EDGAR (Electronic Data Gathering, Analysis, and Retrieval system). Search or scroll within the annual report to find the balance sheet, labeled "Consolidated Balance Sheets." Required: 1. Find the amounts reported for accumulated depreciation for the period ended February 1, 2020, and February 2, 2019. Assuming no depreciable assets were sold during the year, determine the adjustment for BJ's depreciation for the year and compute the adjusted balances of the related accounts. 2. For simplicity, assume the entire amount reported for "Prepaid expenses and other current assets" represents the balance of the Supplies account. If the year-end balance of the Supplies account prior to any adjustment is $200,000 (in thousands), determine the adjustment that was made to Supplies (and Supplies Expense) at the end of the current year and compute the adjusted balances of the…

Wolfpack Corp. has determined it should record depreciation expense of $40,000 for the year ending 12/31/X7. Required: In the general journal below, complete the year-end entry to record depreciation.     Debit Credit Dec 31 ? 40,000            ?   40,000

Record the entry for additional depreciation expense on revaluation of equipment due to conversion from U.S. GAAP to IFRS. Note: Enter debits before credits.           Date Account Title Debit Credit 12/31/2021

Only Ex 9-19 please and thank you!

Godo