Chapter $8$ Homework

Question $2-$ Chapter $8$ Homework $-$ Connect

Chapter $8$ Homework

Saved

Help

Save & Exit

Submit

$2$

Part $1$ of $6$

Required information

$[$The following information applies to the questions displayed below.$]$

The following events apply to Gulf Seafood for the Year $1$ fiscal year:

$8\mathrm{.}33$

points

Skipped

The company started when it acquired $$37,000$ cash by issuing common stock.

Purchased a new cooktop that cost $$14,600$ cash.

Earned $$18,100$ in cash revenue.

Paid $$14,900$ cash for salaries expense.

Adjusted the records to reflect the use of the cooktop. Purchased on January $1,$ Year $1,$ the cooktop has an expected useful life of five years and an estimated salvage value of $$3,200.$ Use straight$-$line depreciation. The adjusting entry was made as of December $31,$ Year $1.$

Check my work

Required

a$.$ Record the events in general journal format and post to T$-$accounts.

Complete this question by entering your answers in the tabs below.

References

Req A$1$

Req A$2$

Record the events in general journal. $($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

$\backslash$table$[[$Me$],[$Graw$],[$Hall$]]$

Prev

$23$

$cos$

$4$

$7$

of $12$

Next