On June 20, JAX Communications sold editing equipment for $ 1,550 that cost $ 3,800. Accumulated depreciation up to the end of the previous year was $ 2,350. Monthly depreciation is $ 32. Make the necessary general journal entries.
Answer to relevant QuestionsOn June 25, Wynn Assemblers trades in a machine for a new one priced at $ 8,460, receiving a trade-in allowance of $ 1,500 on the old machine. Wynn Assemblers makes a down payment of $ 1,200 in cash and issues a 60- day, 9 ...During a three-year period, Craig Excavation completed the following transactions pertaining to its front-end loader: Year 1 June 30 Bought a front-end loader, $ 39,500, paying $ 15,500 in cash and issuing a series of four ...Kason Miller owns a small catering service. The company owns a delivery van as well as ovens and large cooking containers. Kason is confused about the different traditional depreciation methods he can use for financial ...What four steps are followed in a liquidation?The partnership of R. S. Johnson, B. J. Williams, and F. A. Brown has a net income of $ 240,000 for the current year. The balances in the partners’ Capital accounts at the beginning of the year were $ 64,000, $ 68,000, and ...
Post your question