Journalize the following transactions for the Robe Company of Yorktown and below each entry show all calculations:
Question:
Transcribed Image Text:
2014 Jan. Sold a truck for $1,250 that cost $6,750 and had accumu- lated amortization of $6,100 A machine costing $3,200 with accumulated amortization of $2,450 was destroyed in a fire. The insurance company settled the claim for $300 Traded in a machine costing $19,400 with $16,500 of accu mulated amortization for a new machine costing $25,100 with a trade-in allowance of $2,700. Note that amortization is up to date. The loss is to be recognized. Traded in a machine costing $40,000 with $34,000 of accu mulated amortization (which is up to date) for a new machine for a cash price of $45,000 and a trade-in allowance of $8,000 A truck costing $7,000 and fully amortized was disposed of 3 Feb. 10 May 2 July 8 Sept. 12
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 75% (8 reviews)
ROBE COMPANY GENERAL JOURNAL ROBE COMPANY GENERAL JOURNAL 2014 Ja...View the full answer
Answered By
Branice Buyengo Ajevi
I have been teaching for the last 5 years which has strengthened my interaction with students of different level.
4.30+
1+ Reviews
10+ Question Solved
Related Book For
College Accounting A Practical Approach
ISBN: 978-0132564441
11th Canadian Edition
Authors: Jeffrey Slater, Brian Zwicker
Question Posted:
Students also viewed these Accounting questions
-
Journalize the following transactions for the Robe Company and show all calculations: 201X Jan. 1 Sold a truck for $1,350 that cost $6,650 and had accumulated depreciation of $5,900. Feb. 10 A...
-
Journalize the following transactions for the Jamin Jimmys music store. a. Purchased $8,900 of merchandise on account, terms 3/15, n/30, FOB shipping point. b. Paid $180 to the freight company for...
-
Journalize the following transactions for the Prado Company: Oct. 8 Sold $ 9,200 of merchandise to Zen, Inc., on account, terms 2 10, n 60. The merchandise had a cost of $ 6,000. Oct. 10 Zen, Inc....
-
Incorporated in 1990, Raju Diary Ltd is one of the leading manufacturers and marketers of diary-based branded foods in India. In the initial years, its operations were restricted only to the...
-
According to the National Education Association (NEA), teachers generally spend more than 40 hours each week working on instructional duties (NEA website, April 2012). The following data show the...
-
1. Which IMC components do Volvo's business and consumer advertising efforts use? How are they integrated? 2. What step(s) in the AIDA process do each of these marketing communications attempt to...
-
When employers are asked to describe the job satisfactions of their employees and the implications, they often ____________. (a) overestimate job satisfaction (b) underestimate job satisfaction (c)...
-
Forty-two percent of primary care doctors think their patients receive unnecessary medical care (Readers Digest, December 2011/January 2012). a. Suppose a sample of 300 primary care doctors were...
-
What is the area of the figure shown below? 8. y 4t 2+ K 00 6 9 9 2 3 6 8 8 9
-
You will be presented with several relationships and will be asked to write out the null and alternative hypotheses in the proper form. In this section you will: 1. Indicate the directionality of the...
-
On June 13, 2013, Cook Company of Brandon bought equipment for $4,080. Its estimated life is four years with a residual value of $240. Prepare amortization schedules for 2013, 2014, and 2015 for a....
-
Journalize the following transactions for Orange Company of Surrey. 2012 Purchased a machine for $89,500 along with an additional charge for freight and assembly of $1,50 Purchased land at a cost of...
-
Compare the characteristics of a silicon and a germanium diode and determine which you would prefer to use for most practical applications. Give some details. Refer to a manufacturer's listing and...
-
When the correlation coefficient is close to 1 or 1, there is not necessarily a linear relationship between the variables. In Exercises 1114, determine whether the statement is true or false. If the...
-
When two values have a nonlinear relationship, the residual plot will exhibit a noticeable pattern. In Exercises 1114, determine whether the statement is true or false. If the statement is false,...
-
The total variation is the sum of the _____________________ and the __________________ . In Exercises 510, fill in each blank with the appropriate word or phrase.
-
Describe an example in which two variables are strongly correlated, but changes in one do not cause changes in the other.
-
The area principle says that when images are used to compare amounts, the areas of the images should be ______________________ to the amounts. In Exercises 3 and 4, fill in each blank with the...
-
Show that x 2 + 4 is prime.
-
What is the shape of the exponential distribution?
-
Journalize the following: Jan. 12 Plank Co. sells 1,200 shares of $28 par-value common stock at $28. Oct. 21 Johnson Co. sells 300 shares of $6 par-value common stock at $24. Nov. 29 Anton Co. sells...
-
From the following, calculate the dividends for common and preferred stock: 13% fully participating preferred stock. The board declared a $195,000 dividend. Preferred stock 3,100 shares, $110 par...
-
Journalize the entries to record the stock subscription plan for Green Co. On January 1, Green received subscriptions for 1,200 shares of $27 par-value common stock at $41 per share. The buyer will...
-
Required: Following Simplicity Financial and Business Advisory Group Pty Ltd policies and procedures prepare the following: Task 1 Financial statement analysis The client needs a review of financial...
-
SCC Company reported the following for the current year.Net sales$ 57,000Cost of goods sold47, 200Beginning balance in inventory2,900Ending balance in inventory8,960Compute (a) inventory turnover and...
-
You are an assistant financial consultant for Simplicity Financial and Business Advisory Group PtyLtd, and you have been notified the client converted their business to a public company PTCG Ltd....
Study smarter with the SolutionInn App