Maurice Tutor

(5)

$15/per page/Negotiable

About Maurice Tutor

Levels Tought:
Elementary,Middle School,High School,College,University,PHD

Expertise:
Algebra,Applied Sciences See all
Algebra,Applied Sciences,Biology,Calculus,Chemistry,Economics,English,Essay writing,Geography,Geology,Health & Medical,Physics,Science Hide all
Teaching Since: May 2017
Last Sign in: 401 Weeks Ago, 3 Days Ago
Questions Answered: 66690
Tutorials Posted: 66688

Education

  • MCS,PHD
    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

Experience

  • Professor
    Phoniex University
    Oct-2001 - Nov-2016

Category > Accounting Posted 20 Aug 2017 My Price 11.00

Legacy Furniture Co

PR 9-5A   Transactions for fixed assets, including sale

The following transactions, adjusting entries, and closing entries were  completed  by Legacy Furniture Co. during a three-year period. All are related to the use of delivery equipment. The double-declining-balance method of depreciation is used.

2014

Jan.    4.   Purchased a used delivery truck for $28,000, paying  cash. Nov.   2.   Paid garage $675 for miscellaneous repairs to the  truck.

Dec. 31. Recorded depreciation on the truck for the year. The estimated useful life of the truck is four years, with a residual value of $5,000 for the  truck.

2015

Jan.     6.  Purchased a new truck for $48,000, paying  cash.

Apr.     1.  Sold the used truck for $15,000. (Record depreciation to date in 2015 for   the truck.)

June  11.  Paid garage $450 for miscellaneous repairs to the  truck.

Dec.  31.  Record depreciation for the new truck. It has an estimated residual value   of

$9,000 and an estimated life of five years.

2016

July    1.   Purchased a new truck for $54,000, paying  cash.

Oct. 2. Sold the truck purchased January 6, 2015, for $16,750. (Record depreciation to date for 2016 for the truck.)

Dec. 31. Recorded depreciation on the remaining truck. It has an estimated residual value of $12,000 and an estimated useful life of eight  years.

Instructions

Journalize the transactions and the adjusting entries.

Answers

Maurice Tutor
(5)
Status NEW Posted 20 Aug 2017 07:08 PM My Price 11.00

Hel-----------lo -----------Sir-----------/Ma-----------dam-----------Tha-----------nk -----------You----------- fo-----------r u-----------sin-----------g o-----------ur -----------web-----------sit-----------e a-----------nd -----------and----------- ac-----------qui-----------sit-----------ion----------- of----------- my----------- po-----------ste-----------d s-----------olu-----------tio-----------n.P-----------lea-----------se -----------pin-----------g m-----------e o-----------n c-----------hat----------- I -----------am -----------onl-----------ine----------- or----------- in-----------box----------- me----------- a -----------mes-----------sag-----------e I----------- wi-----------ll

Not Rated(0)
Relevent Questions