Bundle: College Accounting, Chapters 1-9, Loose-leaf Version, 22nd + Cengagenowv2, 1 Term Printed Access Card
22nd Edition
ISBN: 9781305930766
Author: HEINTZ
Publisher: CENGAGE L
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Question
Chapter 18, Problem 4SEB
1.
To determine
Journalize the addition of second mower deck to the Tractor A.
2.
To determine
Journalize the replacement of the engine in Mower D.
3.
To determine
Prepare journal entry for the payment of repairs expense.
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Journal Entries: Repairs, Maintenance, Additions, Improvements, and Replacements
Prepare the entries for the following transactions for Stepanski's Food Mart using a
general journal:
1. Replaced the checkout computer in Checkout Stand A for $3,500 cash. The
computer is part of the checkout stand. The replacement is expected to extend the
life of the checkout stand.
2. Added a laser scanner to Checkout Stand B for $1,000 cash to decrease checkout
time.
Cleaned scanner window on Checkout Stand A for $30 cash (normal
maintenance).
Page: 1
DOC. POST.
NO. REF.
DATE ACCOUNT TITLE
DEBIT CREDIT
1 1.
2
2
3
3
4 2.
4
5
6
7 3.
8
8
Now it's your turn. Complete the next three Plant Asset Records and Cash Receipt Journals
Questions? Contact your instructor!
Practice #1:
The business sold this asset on June 28, 2016. The disposal amount received was $750.00.
Complete the disposal section of the plant asset record and journalize the disposal transaction using the journal provided.
The journal page is 20 and the source document for the disposal transaction is Receipt 12.
w|N|-|
Date
Bought
Date
PLANT ASSET RECORD No.
YEAR
2011
2012
2013
2014
2015
2016
Description Display Case
Disposed of:
July 1, 2011
Estimated
Useful Life
5 years
DATE
Annual Depreciation Expense
$375.00
$750.00
$750.00
$750.00
$750.00
$375.00
92
Discarded
Estimated
Salvage
Value
Serial # Y458725PP
ACCOUNT TITLE
$750.00
Sold
Accumulated Depreciation
$375.00
$1,125.00
$1,875.00
$2,625.00
$3,375.00
$3,750.00
General Ledger Account No. 1160
POST
DOC NO. REF.
G/L Account Store Equipment
CASH RECEIPTS JOURNAL
Disposal Amount
Original Cost $4,500.00…
Santa Rosa recently purchased a new boat to help ship product overseas. The following information is related to that purchase:
Purchase price $4,100,000
Cost to bring boat to production facility $29,000
Yearly insurance cost $29,000
Annual maintenance cost of $40,000
Received 6% discount on sales price
A. Determine the acquisition cost of the boat.
$?
B. Record the journal entry needed. If an amount box does not require an entry, leave it blank.
Chapter 18 Solutions
Bundle: College Accounting, Chapters 1-9, Loose-leaf Version, 22nd + Cengagenowv2, 1 Term Printed Access Card
Ch. 18 - Prob. 1TFCh. 18 - Prob. 2TFCh. 18 - Depreciation is a process of asset valuation; that...Ch. 18 - The straight-line method of depreciation allocates...Ch. 18 - Prob. 5TFCh. 18 - Prob. 1MCCh. 18 - Prob. 2MCCh. 18 - Prob. 3MCCh. 18 - Prob. 4MCCh. 18 - Prob. 5MC
Ch. 18 - The following costs were incurred to purchase a...Ch. 18 - Prob. 2CECh. 18 - Prob. 3CECh. 18 - Grandorf Company replaced the engine in a truck...Ch. 18 - Prepare journal entries for the following...Ch. 18 - Prob. 6CECh. 18 - Prob. 7CECh. 18 - Prob. 1RQCh. 18 - Prob. 2RQCh. 18 - Prob. 3RQCh. 18 - What is meant by the depreciable cost of a plant...Ch. 18 - Prob. 5RQCh. 18 - Prob. 6RQCh. 18 - Prob. 7RQCh. 18 - Prob. 8RQCh. 18 - Prob. 9RQCh. 18 - Prob. 10RQCh. 18 - Prob. 11RQCh. 18 - Prob. 12RQCh. 18 - Prob. 13RQCh. 18 - Prob. 14RQCh. 18 - Prob. 15RQCh. 18 - Prob. 16RQCh. 18 - Prob. 17RQCh. 18 - Prob. 18RQCh. 18 - Prob. 19RQCh. 18 - Prob. 20RQCh. 18 - Prob. 21RQCh. 18 - Prob. 22RQCh. 18 - Prob. 1SEACh. 18 - STRAIGHT-LINE, DECLINING-BALANCE, AND...Ch. 18 - UNITS-OF-PRODUCTION METHOD The truck purchased in...Ch. 18 - Prob. 4SEACh. 18 - JOURNAL ENTRIES: DISPOSITION OF PLANT ASSETS...Ch. 18 - Prob. 6SEACh. 18 - STRAIGHT-LINE, DECLINING-BALANCE,...Ch. 18 - UNITS-OF-PRODUCTION METHOD A machine is purchased...Ch. 18 - CALCULATING AND JOURNALIZING DEPRECIATION...Ch. 18 - IMPACT OF IMPROVEMENTS AND REPLACEMENTS ON THE...Ch. 18 - DISPOSITION OF ASSETS: JOURNALIZING Mitchell Parts...Ch. 18 - DEPLETION: CALCULATING AND JOURNALIZING Mineral...Ch. 18 - INTANGIBLE LONG-TERM ASSETS Track Town Co. had the...Ch. 18 - Prob. 1SEBCh. 18 - STRAIGHT-LINE, DECLINING-BALANCE, AND...Ch. 18 - Prob. 3SEBCh. 18 - Prob. 4SEBCh. 18 - JOURNAL ENTRIES: DISPOSITION OF PLANT ASSETS...Ch. 18 - Prob. 6SEBCh. 18 - STRAIGHT-LINE, DECLINING-BALANCE,...Ch. 18 - UNITS-OF-PRODUCTION METHOD A machine is purchased...Ch. 18 - CALCULATING AND JOURNALIZING DEPRECIATION...Ch. 18 - IMPACT OF IMPROVEMENTS AND REPLACEMENTS ON THE...Ch. 18 - DISPOSITION OF ASSETS: JOURNALIZING Mayer Delivery...Ch. 18 - DEPLETION: CALCULATING AND JOURNALIZING Mining...Ch. 18 - Prob. 13SPBCh. 18 - Prob. 1MYWCh. 18 - Creative Solutions purchased a patent from Russell...Ch. 18 - On April 1, 20-3, Kwik Kopy Printing purchased a...Ch. 18 - Prob. 1CP
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