Answer all of these, please
And Answer correctly!!!
Answer all of these, please
And Answer correctly!!!
2 PA9-2 Recording and Interpreting the Disposal of Long-Lived Assets [LO 9-5 Ly Company disposed of two different assets. On January 1, prior to their disposal, the accounts reflected the following: 6 points Accumulated Depreciation (straight-line) $21,68e (4 years) 44,eee (11 years) Original Cost $3e, eee 59, 28e Residual Value $3.e00 3,280 Estinated Life 5 years 14 years Asset Machine A Machine 8 The machines were disposed of in the following ways: a Machine A: Sold on January 1 for $9,000 cash. b Machine B: On January 1, this machine was sold to a salvage company 8t zero proceeds (and zero cost of removal). Required: 1. & 2 Prepare the journal entries related to the disposal of Machine A and Bat the beginning of the current year. (If no entry Is requlred for a transection/event, select "No Journal Entry Required" In the first account fleld.) Answer is not complete. Debit Credit General Journal No Date No Journal Entry Required January 01 9.000 Cash 2 January 01 21.000 Accumulated Depreoiation-Equipment 600 Gain on Disposal No Jounal Entry Required 3 January 01 44.000 Acoumulated Depreciation-Equipment 4 January 01 15.200 Loss on Disposal 59.200 Gain on Disposal M9-8 Recording Asset Impairment Losses [LO 9-4, LO 9-5] After recording depreciation for the current year, Media Mania Incorporated decided to discontinue using its printing equipment. The equipment had cost $750,000, accumulated depreciation was $550,000, and Its fair value (based on estimated future cash flows from selling the equipment) was $50,000 points Skipped 1. Determine whether the equipment is impaired. 2. Prepare the journal entries to record the impaired asset. oBook Complete this question by entering your answers in the tabs below. Print Required 1 Required 2 References Prepare the journal entries to record the impaired asset. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list A Record the entry to remove accumulated depreciation B Record the impairment loss. 2 PA9-2 Recording and Interpreting the Disposal of Long-Lived Assets [LO 9-5) Ly Company disposed of two different assets. On January 1, prior to their disposal, the accounts reflected the following: nts Accumulated Depreciation Estimated Life (straight-line) $21,6ee (4 years) 44, eee (11 years) Residual Value Original Cost Asset $30,e00 59, 20e $3, eee 3,20e 5 years 14 years Machine A Machine 8 The machines were disposed of in the following ways a Machine A: Sold on January 1 for $9,000 cash. b Machine B: On January 1, this machine was sold to a salvage company at zero proceeds (and zerO Cost of removal). Required: 1. & 2 Prepare the journal entries related to the disposal of Machine A and B-at the beginning of the current year. (If no entry Is required for a transactlon/event, select "No Journel Entry Required" In the first account fleld.) Answer is not complete. Credit Debit General Journal No Date No Journal Entry Required January 01 1 9,000 Cash January 01 21,600 Acoumulated Depreciation-Equipment 600 Gain on Disposal No Journal Entry Required 3 January 01 Accumulated Depreciation-Equipment Loss on Disposal 44,000 4 January 01 15,200 50.200 Gain on Disposal 33 Required Information PA9-3 Analyzing and Recording Long-Lived Asset Transactions with Partial-Year Depreciation [LO 9-2, LO 9-3, LO 9-6] nts [The following information applies to the questions displayed below] Precision Construction entered into the following transactions during a recent year eBook January 2 Purchased a bulldozer for $25e,eee by paying $20,eee cash and signing a $23e,eee note due in five years. January 3 Replaced the steel tracks on the bulldozer at a cost of $2e,eee, purchased on account. The new steel tracks increase the bulldozer's operating efficiency. Print January 3e wrote a check for the amount owed on account for the work completed on January 3 February 1 Repaired the leather seat on the bulldozer and wrote a check for the full $8e cost. March 1 Paid $3,6e0 cash for the rights to use computer software for a two-year period. ererences PA9-3 Part 1-b to 3 1-b. Prepare the journal entries for each of the above transactions. 2 For the tangible and intangible assets acquired in the preceding transactions, determine the amount of depreciation and amortization that Precision Construction should report for the quarter ended March 31. The equipment is depreciated using the double-declining-balance method with a useful life of five years and $40,000 residual value. 3. Prepare a journal entry to record the depreciation and amortization calculated in requirement 2 Complete this question by entering your answers in the tabs below. Req 1B Req 2 Rea 3 Prepare a journal entry to record the depreciation and amortization calculated in requirement 2. (1f no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list View journal entry worksheet No Date General Journal Debit Credit Depreciation Expense 1 March 31 27,000 Amortization Expense 150
