Problem 3 : p9-32A Background accounts include Land, Buildings, office E depreci

Question

Problem 3 : p9-32A Background accounts include Land, Buildings, office E depreciable asset. Elie Johnson Associates completed the activities listed the entry, then repeat these steps for each transaction lohnson Associates s urveys Anerican eating habits. The company's Using the General lournal tab, cick Add Transaction to cation purnaize each transaction. Click Post Transaction once you complete n the Transactions section below during 20is 2)?ck the Reports tab ad renew the results of recording these transactions on the General Ledger 3) Click Submit Work when complete. Transactions: 01/01/2018 Purchased office equpment, $113,000. Paid $80,000 cash and financed the remainder with a note payable. 04/01/2018 Acqured land and communication equipment in a lumo-sum purchase. Total cost was $310,000, paid in cash. An independent 1/2018 0.,000 00melthe bouidng ese o ie dhe buignghas t Associates received SAVE WORK RESET RESULTSSUBMIT WORK BUSINESs REPORTS GENERAL JOURNAL ? | 0901/2018 | |blect an a he web and Windows 144

Explanation / Answer

problem no 1

office equipment A/c dr 113000

to cash A/c 80000

to note payable 33000

Being purchased Office equipment

1b

land A/c dr 244125

communication equipment A/c dr 81375

to cash A/c 310000

to gain A.c 15500

being purchased land & communcation equip

c

Depreciation A/c dr 12375

To building A/c 12375

being buliding depreciated

cash A/c Dr 420000

To buliding A/c 222625

To Profit On sale of building 197375

being Building Sold

D. Depreciation A/c dr 16275

To Communication equipment A/c 16275

Being Communication eqip depreciated

E.Depreciation A/c 44800

to office equipment A?c

Being office equipment depreciated

Related Questions

Navigate

• Browse (All)
• Browse P
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.