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Red Company and Green, Inc., are candy manufacturers. The two companies agree to exchange pieces of equipment, with Red Company exchanging its equipment plus $30,000 for Green, Inc.'s equipment. The transaction lacks commercial substance. On the date of the exchange, the companies' records showed the following information: Red Company Green Inc. Historical cost $280.000 $300.000 Accumulated depreciation (150.000) (160,000) Fair value 250,000 275,000 To prepare each required journal entry: • Click on a cell in the Account Name column and select from the option list the appropriate account. An account may be used once, more than once, or not at all. • Enter the corresponding debit or credit amount in the associated column. • Round all amounts to the nearest whole number. • Not all rows in the table might be needed to complete each journal entry. • If no journal entry is needed, check the "No entry required" box at the top of the table as your response. 1. Prepare the journal entries Red Company must record to account for the exchange of equipment. ONo Entry Required Account Name Debit Credit 123 123 123 123 123 2. Prepare the journal entries Green, Inc, must record to account for the exchange of equipment. DNo Entry Required 四 目 123 123 2. Prepare the journal entries Green, Inc., must record to account for the exchange of equipment. O No Entry Required Account Name Debit Credit 123 123 123 123 目 123 123 123 123 123 123 图 图 !! Red Company and Green, Inc., are candy manufacturers. The two companies agree to exchange pieces of equipment, with Red Company exchanging its equipment plus $30,000 for Green, Inc.'s equipment. The transaction lacks commercial substance. On the date of the exchange, the companies' records showed the following information: Red Company Green Inc. Historical cost $280.000 $300.000 Accumulated depreciation (150.000) (160,000) Fair value 250,000 275,000 To prepare each required journal entry: • Click on a cell in the Account Name column and select from the option list the appropriate account. An account may be used once, more than once, or not at all. • Enter the corresponding debit or credit amount in the associated column. • Round all amounts to the nearest whole number. • Not all rows in the table might be needed to complete each journal entry. • If no journal entry is needed, check the "No entry required" box at the top of the table as your response. 1. Prepare the journal entries Red Company must record to account for the exchange of equipment. ONo Entry Required Account Name Debit Credit 123 123 123 123 123 2. Prepare the journal entries Green, Inc, must record to account for the exchange of equipment. DNo Entry Required 四 目 123 123 2. Prepare the journal entries Green, Inc., must record to account for the exchange of equipment. O No Entry Required Account Name Debit Credit 123 123 123 123 目 123 123 123 123 123 123 图 图 !! Red Company and Green, Inc., are candy manufacturers. The two companies agree to exchange pieces of equipment, with Red Company exchanging its equipment plus $30,000 for Green, Inc.'s equipment. The transaction lacks commercial substance. On the date of the exchange, the companies' records showed the following information: Red Company Green Inc. Historical cost $280.000 $300.000 Accumulated depreciation (150.000) (160,000) Fair value 250,000 275,000 To prepare each required journal entry: • Click on a cell in the Account Name column and select from the option list the appropriate account. An account may be used once, more than once, or not at all. • Enter the corresponding debit or credit amount in the associated column. • Round all amounts to the nearest whole number. • Not all rows in the table might be needed to complete each journal entry. • If no journal entry is needed, check the "No entry required" box at the top of the table as your response. 1. Prepare the journal entries Red Company must record to account for the exchange of equipment. ONo Entry Required Account Name Debit Credit 123 123 123 123 123 2. Prepare the journal entries Green, Inc, must record to account for the exchange of equipment. DNo Entry Required 四 目 123 123 2. Prepare the journal entries Green, Inc., must record to account for the exchange of equipment. O No Entry Required Account Name Debit Credit 123 123 123 123 目 123 123 123 123 123 123 图 图 !! Red Company and Green, Inc., are candy manufacturers. The two companies agree to exchange pieces of equipment, with Red Company exchanging its equipment plus $30,000 for Green, Inc.'s equipment. The transaction lacks commercial substance. On the date of the exchange, the companies' records showed the following information: Red Company Green Inc. Historical cost $280.000 $300.000 Accumulated depreciation (150.000) (160,000) Fair value 250,000 275,000 To prepare each required journal entry: • Click on a cell in the Account Name column and select from the option list the appropriate account. An account may be used once, more than once, or not at all. • Enter the corresponding debit or credit amount in the associated column. • Round all amounts to the nearest whole number. • Not all rows in the table might be needed to complete each journal entry. • If no journal entry is needed, check the "No entry required" box at the top of the table as your response. 1. Prepare the journal entries Red Company must record to account for the exchange of equipment. ONo Entry Required Account Name Debit Credit 123 123 123 123 123 2. Prepare the journal entries Green, Inc, must record to account for the exchange of equipment. DNo Entry Required 四 目 123 123 2. Prepare the journal entries Green, Inc., must record to account for the exchange of equipment. O No Entry Required Account Name Debit Credit 123 123 123 123 目 123 123 123 123 123 123 图 图 !! Red Company and Green, Inc., are candy manufacturers. The two companies agree to exchange pieces of equipment, with Red Company exchanging its equipment plus $30,000 for Green, Inc.'s equipment. The transaction lacks commercial substance. On the date of the exchange, the companies' records showed the following information: Red Company Green Inc. Historical cost $280.000 $300.000 Accumulated depreciation (150.000) (160,000) Fair value 250,000 275,000 To prepare each required journal entry: • Click on a cell in the Account Name column and select from the option list the appropriate account. An account may be used once, more than once, or not at all. • Enter the corresponding debit or credit amount in the associated column. • Round all amounts to the nearest whole number. • Not all rows in the table might be needed to complete each journal entry. • If no journal entry is needed, check the "No entry required" box at the top of the table as your response. 1. Prepare the journal entries Red Company must record to account for the exchange of equipment. ONo Entry Required Account Name Debit Credit 123 123 123 123 123 2. Prepare the journal entries Green, Inc, must record to account for the exchange of equipment. DNo Entry Required 四 目 123 123 2. Prepare the journal entries Green, Inc., must record to account for the exchange of equipment. O No Entry Required Account Name Debit Credit 123 123 123 123 目 123 123 123 123 123 123 图 图 !! Red Company and Green, Inc., are candy manufacturers. The two companies agree to exchange pieces of equipment, with Red Company exchanging its equipment plus $30,000 for Green, Inc.'s equipment. The transaction lacks commercial substance. On the date of the exchange, the companies' records showed the following information: Red Company Green Inc. Historical cost $280.000 $300.000 Accumulated depreciation (150.000) (160,000) Fair value 250,000 275,000 To prepare each required journal entry: • Click on a cell in the Account Name column and select from the option list the appropriate account. An account may be used once, more than once, or not at all. • Enter the corresponding debit or credit amount in the associated column. • Round all amounts to the nearest whole number. • Not all rows in the table might be needed to complete each journal entry. • If no journal entry is needed, check the "No entry required" box at the top of the table as your response. 1. Prepare the journal entries Red Company must record to account for the exchange of equipment. ONo Entry Required Account Name Debit Credit 123 123 123 123 123 2. Prepare the journal entries Green, Inc, must record to account for the exchange of equipment. DNo Entry Required 四 目 123 123 2. Prepare the journal entries Green, Inc., must record to account for the exchange of equipment. O No Entry Required Account Name Debit Credit 123 123 123 123 目 123 123 123 123 123 123 图 图 !! Red Company and Green, Inc., are candy manufacturers. The two companies agree to exchange pieces of equipment, with Red Company exchanging its equipment plus $30,000 for Green, Inc.'s equipment. The transaction lacks commercial substance. On the date of the exchange, the companies' records showed the following information: Red Company Green Inc. Historical cost $280.000 $300.000 Accumulated depreciation (150.000) (160,000) Fair value 250,000 275,000 To prepare each required journal entry: • Click on a cell in the Account Name column and select from the option list the appropriate account. An account may be used once, more than once, or not at all. • Enter the corresponding debit or credit amount in the associated column. • Round all amounts to the nearest whole number. • Not all rows in the table might be needed to complete each journal entry. • If no journal entry is needed, check the "No entry required" box at the top of the table as your response. 1. Prepare the journal entries Red Company must record to account for the exchange of equipment. ONo Entry Required Account Name Debit Credit 123 123 123 123 123 2. Prepare the journal entries Green, Inc, must record to account for the exchange of equipment. DNo Entry Required 四 目 123 123 2. Prepare the journal entries Green, Inc., must record to account for the exchange of equipment. O No Entry Required Account Name Debit Credit 123 123 123 123 目 123 123 123 123 123 123 图 图 !! Red Company and Green, Inc., are candy manufacturers. The two companies agree to exchange pieces of equipment, with Red Company exchanging its equipment plus $30,000 for Green, Inc.'s equipment. The transaction lacks commercial substance. On the date of the exchange, the companies' records showed the following information: Red Company Green Inc. Historical cost $280.000 $300.000 Accumulated depreciation (150.000) (160,000) Fair value 250,000 275,000 To prepare each required journal entry: • Click on a cell in the Account Name column and select from the option list the appropriate account. An account may be used once, more than once, or not at all. • Enter the corresponding debit or credit amount in the associated column. • Round all amounts to the nearest whole number. • Not all rows in the table might be needed to complete each journal entry. • If no journal entry is needed, check the "No entry required" box at the top of the table as your response. 1. Prepare the journal entries Red Company must record to account for the exchange of equipment. ONo Entry Required Account Name Debit Credit 123 123 123 123 123 2. Prepare the journal entries Green, Inc, must record to account for the exchange of equipment. DNo Entry Required 四 目 123 123 2. Prepare the journal entries Green, Inc., must record to account for the exchange of equipment. O No Entry Required Account Name Debit Credit 123 123 123 123 目 123 123 123 123 123 123 图 图 !! Red Company and Green, Inc., are candy manufacturers. The two companies agree to exchange pieces of equipment, with Red Company exchanging its equipment plus $30,000 for Green, Inc.'s equipment. The transaction lacks commercial substance. On the date of the exchange, the companies' records showed the following information: Red Company Green Inc. Historical cost $280.000 $300.000 Accumulated depreciation (150.000) (160,000) Fair value 250,000 275,000 To prepare each required journal entry: • Click on a cell in the Account Name column and select from the option list the appropriate account. An account may be used once, more than once, or not at all. • Enter the corresponding debit or credit amount in the associated column. • Round all amounts to the nearest whole number. • Not all rows in the table might be needed to complete each journal entry. • If no journal entry is needed, check the "No entry required" box at the top of the table as your response. 1. Prepare the journal entries Red Company must record to account for the exchange of equipment. ONo Entry Required Account Name Debit Credit 123 123 123 123 123 2. Prepare the journal entries Green, Inc, must record to account for the exchange of equipment. DNo Entry Required 四 目 123 123 2. Prepare the journal entries Green, Inc., must record to account for the exchange of equipment. O No Entry Required Account Name Debit Credit 123 123 123 123 目 123 123 123 123 123 123 图 图 !! Red Company and Green, Inc., are candy manufacturers. The two companies agree to exchange pieces of equipment, with Red Company exchanging its equipment plus $30,000 for Green, Inc.'s equipment. The transaction lacks commercial substance. On the date of the exchange, the companies' records showed the following information: Red Company Green Inc. Historical cost $280.000 $300.000 Accumulated depreciation (150.000) (160,000) Fair value 250,000 275,000 To prepare each required journal entry: • Click on a cell in the Account Name column and select from the option list the appropriate account. An account may be used once, more than once, or not at all. • Enter the corresponding debit or credit amount in the associated column. • Round all amounts to the nearest whole number. • Not all rows in the table might be needed to complete each journal entry. • If no journal entry is needed, check the "No entry required" box at the top of the table as your response. 1. Prepare the journal entries Red Company must record to account for the exchange of equipment. ONo Entry Required Account Name Debit Credit 123 123 123 123 123 2. Prepare the journal entries Green, Inc, must record to account for the exchange of equipment. DNo Entry Required 四 目 123 123 2. Prepare the journal entries Green, Inc., must record to account for the exchange of equipment. O No Entry Required Account Name Debit Credit 123 123 123 123 目 123 123 123 123 123 123 图 图 !!
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From the information provided a table can be drawn as under Particulars Red Company Green Inc Historical cost 280000 300000 Accumulated depreciation 1... View the full answer
Related Book For
Introduction to Operations Research
ISBN: 978-1259162985
10th edition
Authors: Frederick S. Hillier, Gerald J. Lieberman
Posted Date:
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