Suppose your company sells services of $310 in exchange for $200 cash and $110 on account. Depreciation of $130 relating to equipment also is recorded. prepare journal entries a) Record the service revenue of $200 for cash and $110 on account. b) Record the depreciation expense of $130.

A machine that cost $24,000 with a book value of $18,000 was sold for $12,000. The journal entry to record this event would include a a. Gain of $12,000 b. Loss of $12,000 c. Debit to Accumulated Depreciation for $6,000 d. Debit to Accumulated Depreciation for $18,000 e. Credit to Machine for $18,000

Given the following information for Sookie’s Cookies Co., calculate the depreciation expense: sales = $96,581; costs = $67,448; addition to retained earnings = $1,079; dividends paid = $329; interest expense = $1,641; tax rate = 37 percent. (Hint: Build the Income Statement and fill in the missing pieces until you get to the depreciation expense. You may have to work from bottom up.)

Solve the first task, with explanation

Pitney Company purchased an office building, land, and furniture for $728,100 cash. The appraised value of the assets was as follows. $ 138,630 195,713 481,128 $ 815,472 Land Building Furniture Total Required a. Compute the amount to be recorded on the books for each asset. b. Show the purchase in a horizontal statements model. c. Prepare the general journal entry to record the purchase. Complete this question by entering your answers in the tabs below. Required A Required B Required C Compute the amount to be recorded on the books for each asset. (Do not round intermediate calculations. Round your final answers to nearest whole dollar.) Allocated Cost Land Building Furniture Total

Hercules Company purchased a computer for $4,800 on December 1. It is estimated that annual depreciation on the computer will be $960. If financial statements are to be prepared on December 31, the company should make the following adjusting entry: Debit Depreciation Expense, $960; Credit Accumulated Depreciation, $960. Debit Depreciation Expense, $80; Credit Accumulated Depreciation, S80. Debit Depreciation Expense, $3,840; Credit Accumulated Depreciation, S3,840. Debit Office Equipment, $4,800; Credit Accumulated Depreciation, $4,800.

Prepare Journal,Adjusting Entries and Ledger General Journal         Date Account Title and Explanation Post Ref Debit Credit   General Ledger           Date Description Ref Debit Credit Balance

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Complete the problem below using these accounts as needed: Cash Accumulated Depreciation Party Bus Loss on Sale of Party Bus Depreciation Expense Gain on Sale of Party Bus PLEASE NOTE: You must enter the account names exactly as written above and all whole dollar amounts will be with "$" and commas as needed (i.e. $12,345). If no account name or DR/CR is needed, please use "None" and if no dollar amount is needed, please use "$0" - no quotation marks for either. You are to refer to the examples in the text for the proper order of the accounts. Party Hearty Co. owns a party bus that, all tricked out, costs $247,500, with accumulated depreciation of $123,450. Party Hearty Co. sells the party bus for cash. Record the journal entry for the sale of the party bus if Party Hearty Co. were to sell the party bus for the following amounts: Sold party bus for $118,635 cash:   DR     DR / CR?      DR / CR?      CR       Sold party bus for $124,050 cash:   DR     DR…

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