On January 1. 2020, Bone Vista Co. purchased jand, a building, equipment, and tools for a...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
On January 1. 2020, Bone Vista Co. purchased jand, a building, equipment, and tools for a total price of $4,870,000, paying cash of $1,214,000 and borrowing the belance from the bank. The bank appraiser valued the assets as folows: $1185,000 for the lend $1.343.000 for the building $987500 for the equipment, end $434.500 for the tools. Prepare the entry to record the purchese. De not round Intermediate celculetions View transactien list View journal entry worksheet No Dabe General Juumal Debit Credie Jaruary 01, 2020 Lane Buiding Tools Cash Neles payacie On January 1. 2020, Bone Vista Co. purchased jand, a building, equipment, and tools for a total price of $4,870,000, paying cash of $1,214,000 and borrowing the belance from the bank. The bank appraiser valued the assets as folows: $1185,000 for the lend $1.343.000 for the building $987500 for the equipment, end $434.500 for the tools. Prepare the entry to record the purchese. De not round Intermediate celculetions View transactien list View journal entry worksheet No Dabe General Juumal Debit Credie Jaruary 01, 2020 Lane Buiding Tools Cash Neles payacie
Expert Answer:
Answer rating: 100% (QA)
Bone Vista purchased Land Building Equipment and Tools for a total purcha... View the full answer
Related Book For
Fundamental Accounting Principles Volume II
ISBN: 978-1259066511
14th Canadian Edition
Authors: Larson Kermit, Jensen Tilly
Posted Date:
Students also viewed these accounting questions
-
Prepare the entry to record income taxes on December 31, 2011, assuming that Jason Corporations income tax expense is $120,000 and that it owes $80,000 in income taxes to the government. Prepare the...
-
Prepare journal entry to record the following issuances of stock; A corporation issued 700 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $800....
-
On January 1 2020 Potter Company purchased 100 of the 1000 shares of Voldomort Company for $800. Potter has no significant influence over Voldomort On July 1, 2020, Voldomort declared and paid a $1...
-
Either: Prove that k-means will produce k clusters, allnonempty, OR: Give anexample of a set D of data points (with no repeated data point), avalue for k(k
-
Select one new trend in the field of accounting information systems today that was not mentioned in the chapter, but that you feel is important. Write a short report describing your findings. Be sure...
-
An electron in a stationary state of a one-dimensional box of length 0.300 nm emits a photon of frequency 5.05 x 1015 s-1 find the initial and final quantum numbers for this transition
-
Consider a dataset consisting of 20 observations with the following summary statistics: \(\bar{x}=0, \bar{y}=9, s_{x}=1\), and \(s_{y}=10\). You run a regression using using one variable and...
-
All trucks traveling on Interstate 40 between Albuquerque and Amarillo are required to stop at a weigh station. Trucks arrive at the weigh station at a rate of 200 per 8-hour day, and the station can...
-
(b) What risk factors might pertain to a private equity investment in the pandemic? (9 marks) (c) Explain how a MBO deal is usually structured both in terms of its corporate/legal structure and its...
-
NIKE, Inc., with its Canadian headquarters in Thornhill, Ontario, is one of the world's lead- ing manufacturers of athletic shoes and sports apparel. The following activities occurred during a recent...
-
please watch the video "" What Would You Do" show is an American series airing since 2008 on ABC Primetime called. This video represents another kind of diversity specifically in a workplace setting...
-
Your posts could include any of the following: initiating a question regarding this week's course content, responding to your group member's questions, initiating a discussion by commenting on what...
-
Per the FARs, define what a contract is, and explain the elements of a contract. Additionally, what is the difference between "Common Law" and "Administrative Law"? Finally, why do we have a contract...
-
Select a familiar business or find a business by conducting an Internet search. Identify the selected business' structure using the business structures identified in your text, course materials, and...
-
Marvin Gaye owns a business. Jeffrey Osborne bought 100 widgets from him. To pay for the widgets he issued a note, payable to Marvin Gaye. The note provides that "I, Jeffrey Osborne, promise to pay...
-
Imagine the price of pizza from a restaurant has dramatically increased to $75 a pizza - What will you do? Will your pizza eating habits change? What factors will influence your decision? Consider:...
-
Find a regular grammar that generates the language on ={a, b} .L(aa* (aktal*) the language consisting of all strings with no more than two a's.
-
What are the before image (BFIM) and after image (AFIM) of a data item? What is the difference between in-place updating and shadowing, with respect to their handling of BFIM and AFIM?
-
The Questa Company purchased some machinery on March 10, 2014, that had a cost of $100,000 (ignore GST/PST). Show the journal entries that would record this purchase and payment under these three...
-
Kaye Biotech Inc. had the following equity account balances at December 31, 2013: Preferred shares, $2.45, non-cumulative, Authorized: 20,000 shares Issued and outstanding: 5,000 shares...
-
TechCom has provided the following selected account information, in alphabetical order, from its adjusted trial balance at October 31, 2014 (assume normal balances): Accounts receivable...
-
Financial items for George Karatsis IT Services on 31 May 2024 are presented below in alphabetical order. Required (a) Prepare a statement of financial position similar to the one in figure 2.2. (b)...
-
During the year ended 30 June 2024, Skilled Services, a provider of temporary secretary personnel, had collected receipts from clients for a total value of \($250000.\) Wages of \($136000\) had been...
-
Rebecca Tallance operates a rent a dress business from her home. She keeps her accounting records for business activities completely separate from her records for personal activities. At 30 June...
Study smarter with the SolutionInn App