Paid $43 for an oil change. Paid $405 to install special shelving units, which increase the operating efficiency of th- re Pharoah Company's journal entries to record these two transactions. (Credit account th nt Is entered. Do not Indent manually. If no entry Is requlred, select "No Entry" for the account tit Account Titles and Explanation Debit
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- Crane Company had the following two transactions related to its delivery truck. 1. Paid $54 for an oil change. 2. Paid $427 to install special shelving units, which increase the operating efficiency of the truck. Prepare Crane Company’s journal entries to record these two transactions. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) No. Account Titles and Explanation Debit Credit 1. enter an account title to record the first transaction enter a debit amount enter a credit amount enter an account title to record the first transaction enter a debit amount enter a credit amount 2. enter an account title to record the second transaction enter a debit amount enter a credit amount enter an account title to record the second transactionOn February 14, Foster Associates Co. paid $2,100 to repair the transmission on one of its delivery vans. In addition, Foster paid $410 to install a GPS system in its van. Required: Journalize the entries for the transmission and GPS system expenditures. Refer to the chart of accounts for the exact wording of the account titles. CNOW journals do not use lines for journal explanations. Every line on a journal page is used for debit or credit entries. CNOW journals will automatically indent a credit entry when a credit amount is entered.Ayayai Company has an old factory machine that cost $63,000. The machine has accumulated depreciation of $35,280. Ayayai has decided to sell the machine. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) (a) What entry would Ayayai make to record the sale of the machine for $32,280 cash? (b) What entry would Ayayai make to record the sale of the machine for $22,280 cash? No. Account Titles and Explanation Debit Credit (a) enter an account title to record the first transaction enter a debit amount enter a credit amount enter an account title to record the first transaction enter a debit amount enter a credit amount enter an account title to record the first transaction enter a debit amount enter a credit amount enter an account title to record the first transaction enter a debit…
- Party Warehouse Inc. rents a wide variety of products (e.g., tables, chairs, tents) for special events. Upon rental, Party Warehouse requires a deposit which is forfeited if the equipment is not returned at the end of the rental period. Deposits charged are twice the cost of the equipment, and Party Warehouse keeps the equipment in its accounting records until deposits are forfeited. On April 5, a customer rented various products for an event to be held on April 8, and Party Warehouse collected a $10,000 deposit. The products were returned on April 10. Required: 1. Prepare the entries to record the receipt of the deposit and refund of the deposit at the end of the rental period. 2. Assume that the customer only returns 90% of the containers on April 10. Prepare the entries to record the forfeiture of the deposit.The following errors were found in the books of RoscoConsultingduring the month: Consultancy Service provided to Briggs Safetyon account for $1500 had been omitted completely from the books. A purchase of supplies for $1000was entered in the cash account but omitted from the supplies account Motor Vehicle purchased for $129,000 cash was entered in the books as $1290. Drawings of$1000 were recorded as $100. A gas bill for $500was entered in the motor vehicle account Required: Record the journal entries necessary to correct each of the errors. State the type of error made for (i), (ii) & (v)On February 13, Scanlon Co. paid $1,790 to repair the transmission on one of its delivery vans. In addition, Scanlon paid $47 to install a GPS system in its van. A. Journalize the entries for the transmission. If an amount box does not require an entry, leave it blank. B. Journalize the entry for GPS system expenditures. If an amount box does not require an entry, leave it blank.
- The following errors were found in the books of Rosco Consulting during the month: Consultancy Service provided to Briggs Safety on account for $1500 had been omitted completely from the books. A purchase of supplies for $1000 was entered in the cash account but omitted from the supplies account Motor Vehicle purchased for $129,000 cash was entered in the books as $1290. Drawings of $1000 were recorded as $100. A gas bill for $500 was entered in the motor vehicle account Required: Record the journal entries necessary to correct each of the errors. Narrations are not required State the type of error made for (1), (2) & (4)Capstone Solutions Company, a computer consulting firm, has decided to write off the $45,800 balance of an account owed by a customer, Philadelphia Inc. a. Journalize the entry to record the write-off, assuming that the direct write-off method is used. If an amount box does not require an entry, leave it blank.The following errors were found in the books of Rosco Consulting during the month: 1. Consultancy Service provided to Briggs Safety on account for $1500 had been omitted completely from the books. 2. A purchase of supplies for $1000 was entered in the cash account but omitted from the supplies account. 3. Motor Vehicle purchased for $129,000 cash was entered in the books as $1290. 4. Drawings of $1000 were recorded as $100. 5. A gas bill for $500 was entered in the motor vehicle account. Required: i. Record the journal entries necessary to correct each of the errors. Narrations are not required ii. State the type of error made for (i), (ii) & (v)
- The following errors were found in the books of Rosco Consulting during the month:1. Consultancy Service provided to Briggs Safety on account for $1500 had been omitted completely from the books.2. A purchase of supplies for $1000 was entered in the cash account but omitted from the supplies account3. Motor Vehicle purchased for $129,000 cash was entered in the books as $1290.4. Drawings of $1000 were recorded as $100.5. A gas bill for $500 was entered in the motor vehicle account Required:i. Record the journal entries necessary to correct each of the errors. ii. State the type of error made for (i), (ii) & (v)Flounder Corporation, which manufactures shoes, hired a recent college graduate to work in its accounting department. On the first day of work, the accountant was assigned to total a batch of invoices with the use of an adding machine. Before long, the accountant, who had never before seen such a machine, managed to break the machine. Flounder Corporation gave the machine plus $442 to Culver Business Machine Company (dealer) in exchange for a new machine. Assume the following information about the machines. Flounder Corp.(Old Machine) Culver Co.(New Machine) Machine cost $377 $351 Accumulated depreciation 182 –0– Fair value 111 553 For each company, prepare the necessary journal entry to record the exchange. (The exchange has commercial substance.) (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)…The following errors were found in the books of Rosco Consulting during the month:1. Consultancy Service provided to Briggs Safety on account for $1500 had been omitted completely from the books.2. A purchase of supplies for $1000 was entered in the cash account but omitted from the supplies account3. Motor Vehicle purchased for $129,000 cash was entered in the books as $1290.4. Drawings of $1000 were recorded as $100.5. A gas bill for $500 was entered in the motor vehicle account Required:State the type of error made for (i), (ii) & (v)