Background: Ellie Johnson Associates surveys American eating habits. The company's accounts include Land, Buildings, Office Equipment and Communication Equipment, with a separate Accumulated Depreciation account for each depreciable asset. Ellie Johnson Assodates completed the activities listed in the Transactions section below during 2018 Assignment: 1) Using the General Journal tab, click Add Transaction to journalize each transaction. Click Post Transaction once you complete the entry then repeat these steps for each transaction 2) Click the Reports tab and review the results of recording these transactions on the General Ledger 3) Click Submit Work when complete Transactions: 01/01/2018 Purchased office equipment, $113,000. Pald $80,000 cash and financed the remainder with a note payable 04/01/2018 Acquired land and communication equipment in a lump sum purchase. Total cost was $310,000, paid in cash. An independent appraisal valued the land at $244,125 and the communication equipment at $81,375 09/01/2018 Sold a building that cost 3520,000 (accumulated depreciation of $285.000 through December 31 of the preceding year. Elle Johnson AD SIRGallando esponent ac dostation methacamher Associates rescived $420,000 cash from the sale of the building. Depreciation computed on a straight in basil. The building has a SAVE WORK RESET RISUS SUBMIT WORK BUSINESS REPORTS COMPANY INFORMATION CHART OF ACCOUNTS GENERAL JOURNAL Date Accounts Debit Creat No transactions in Journal CHAPTER F:10 HOMEWORK PREVIOUS 7 NEXT Problem 7: P10-32A Background: Eile Johnson dates surveys American eating bits The company accounts include Land, buildings, office guipment and Communikation Equipment with a parati Accumulated Depreciation account for each depreciable at the Moon date completed the activities Sated in the Transactions section below during 2010 Assignment: 1) Using the General Journal tab, click Add Transaction to journalizo sach transactions, click it action once you complete the entry then repeat these steps for each transaction 2) Click the Heports tab and review the rest of recording the transactions on the General Lee 3) Click Submit Work when come Transactions 40 year stut life and a residual value of $25,000. (Record an entry for depreciation from January 2010 December 2018 then record the sale of the act in separate entry) 12/31/2018 Recorded deprecation on communication equipment using the straight line method. It is expected to last for five years with zero residual value 12/31/2018 Recorded depreciation on the office equipment using the double-declining balance method is expected to for fear and SAVE WORK RESET SUIT WORK BUSINESS REPORTS January 1, 2018 December 31, 2018 > COMPANY INFORMATION GART OF ACCOUNES GENERAL JOURNAL Date Accounts Dotit Credit No transactions in Joomat Problem 7: P10 32A Background: Ellie Karson Associate surveys American eating habits. The company accounts include Land, Buildings, Officequipment and Communication Equipment with a separate Accumulated Depreciation account for each depreciable asset. Ellie Johnson Associates completed the activities listed in the Transactions section below during 2018. Assignment: 1) Using the General Journal tab, dick Add Transaction to jumalize cach transaction. Click Rost Transaction once you complete the entry, then repeat these steps for each transaction 2) Clide the Reports tab and review the results of recording these transactions on the General Ledger 3) Click Submit Work when complete Transactions 2018 then record the sale of the asset in a separate entry) 12/31/2018 Recorded depreciation on communication equipment using the straight-line method. It is expected to last for tive years with zero residual value 10/31/2018 Recorded depreciation on the office equipment using the double declining balance method. I expected to last for five years and havdo residual value SAVE WORK RESET BERSAMMIT WORK Lanuary 2018 - December 31, 2018 > CART OF ACCOUNTS GENERAL JOURNAL BUSINESS REPORTS COMPANY INFORMATION Debit Credit Uto Accounts transactions in Journal
