That answers your question. It would be more complete if you had included your solution. Then someone could tell you if it is correct. For help on solving problems such as this, look for a tutor at http: It is a free service matching students and tutors in your area.
Add your answer Accounting Homework? At December 31, , Grand Company reported the following as plant assets. Accumulated depreciation—buildings 10,, 17, Accumulated depreciation—equipment 5,, 43, No salvage value was received. Journalize the above transactions. The company uses straight-line depreciation for buildings and equipment.
The buildings are estimated to have a year life and no salvage value. The equipment is estimated to have a year useful life and no salvage value. Update depreciation on assets disposed of at the time of sale or retirement. Chat or rant, adult content, spam, insulting other members, show more.
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So your entry would be the following: You know that it is revenue or sales, so the only possible account that you could use would be dry cleaning sales. Once you receive cash: Dr accounts receivables Cr dry cleaning sales.
Debit Accounts Receivable Credit dry cleaning sales. However, these dr and cr must be posted to the ledger or T accounts if that what you are using. Read up on what a work sheet is.
Jul 26, · 10 answers My teacher said he would give us A's for the whole year if i tell him about a physical object that has nothing to do with science. help? 7 answersStatus: Open.
Sep 29, · The following transactions are February activities of Swing Hard Incorporated, which offers golfing lessons in the northeastern United States. a. Swing Hard collected $15, from customers for lessons given in February. b. Swing Hard sold a gift card for golf lessons for $ cash in February. c. Swing Hard received $4, Status: Resolved.
Mar 06, · I have a few accounting questions for homework that I do not understand. (1) A company uses the percentage of sales method to estimate uncollectibles. Net credit sales for the current year amount to $, and management estimates 6% will be uncollectible. Allowance for uncollectable accounts prior to Status: Resolved. Apr 04, · 1) Birk Company sells merchandise on account for $2, to Kiner Company with credit terms of 2/10, n/ Kiner Company returns $ of merchandise that was damaged, along with a check to settle the account within the discount period. What is the amount of the check? 2) The collection of a $ account after the 2 Status: Resolved.
Mar 12, · I need to journalize the following & Ive been trying and trying and keep getting this question incorrect. can someone help? The following selected transactions were completed by Niles Co. during March of the current year: Mar. 1 Purchased merchandise from Haas Co., $43,, terms FOB shipping point, 2/10, n/eom. Prepaid Status: Open. Mar 18, · Yahoo India Answers Accounting Homework Help? Update: You have a $22, line of credit which charges an annual percentage rate of prime rate plus 5%. Your starting balance on April 1 was $6, On April 5 you made a payment of $2, On April 14 you borrowed $5,, and on April 17 you borrowed $3,Status: Resolved.