Chapter 09 Homework (Application) eBook Calculator 1. EX.09.01 Transactions for fixed assets, including sale Instructions Chart of Accounts Journal 2. EX.09.06 Instructions The following transactions and adjusting entries were completed by Logacy Furniture Co. during a three-year period. Al are related to the use of delivery equipment. The double-declining balance method of direction is used 3. EX.09.07 ALGO 4. EX.09.09 ALGO 5. EX.09.12 ALGO 6. PR.09.05A BLANKSHEET 7. PR.09.06A BLANKSHEET 8. EX 09.11. EXCEL ALGO Jan 4 Purchased a used delivery truck for $26.000, paying cash. Nov 2 Paid garage 5825 for miscellaneous repairs to the truck Dec. 31. Recorded depreciation on the truck for the year. The estimated useful life of the truck is four years, with a residus value of $2,000 for the truck Year 2 Jan 6 Purchased a new truck for $60,000, paying cash Apr. 1 Sold the used truck for $14,000 (Record depreciation to date in Year 2 for the truck) June 11. Paid garage 5280 for miscellaneous repairs to the truck Chapter 09 Homework (Application) 2 eBook Calculator Transactions for fixed assets, including sale 1. EX.09.01 Instructions Chart of Accounts Journal III 2 EX 09.06 3. EX.09.07 ALGO 4. EX.09.09 ALGO Instructions Dec 31 Record depreciation for the new truck. It has an estimated residual value of $7,000 and an estimated life of five years Year 3 Purchased a new truck for $85,000, paying cash. Sold the truck purchased January 6, Year 2, for $19,520. (Record depreciation to date for Year 3 for the 5. EX.09.12 ALGO 6. PR.09.05A BLANKSHEET July 1 Oct 2 7. PR.09.06A BLANKSHEET truck) Dec. 31. Recorded depreciation on the remaining truck it has an estimated residual value of $5,000 and an estimated useful life of eight years 8. EX.09.11.EXCEL ALGO Journalize the transactions and the acusting entries. Refer to the Chart of Accounts for exact wording of account ttes. Transactions for fixed assets, including sale 1. EX 09 01 Instructions Chart of Accounts Journal HI 2 EX 09.06 3. EX.09.07 ALGO Chart of Accounts 4. EX.09.09 ALGO 5. EX.09.12 ALGO CHART OF ACCOUNTS Legacy Furniture Co. General Ledger 6. PR.09.05A BLANKSHEET 7. PR.09.06A BLANKSHEET 8. EX.09. 11. EXCEL ALGO ASSETS 110 Cash 111 Petty Cash 112 Accounts Receivable 114 Interest Receivable 115 Notes Receivable REVENUE 410 Sales 610 Interest Revenue 620 Gain on Sale of Delivery Truck 621 Gain on Sale of Equipment Chapter 09 Homework (Application) eBook 1. EX 09.01 Calculator Transactions for fixed assets, including sale Instruction Chart of Accounts Journal 2. EX.09.06 3. EX.09.07 ALGO 4. EX.09.09 ALGO 5. EX.09.12 ALGO 6. PR.09.05A BLANKSHEET 7. PR.09.06A. BLANKSHEET 8. EX.09.11 EXCEL ALGO Chart of Accounts 116 Merchandise Inventory 117 Supplies 119 Prepaid Insurance 120 Land 123 Delivery Truck 124 Accumulated Depreciation-Delivery Truck 125 Equipment 126 Accumulated Depreciation Equipment 130 Mineral Rights 131 Accumulated Depletion 132 Goodwill 133 Patents EXPENSES 510 Cost of Merchandise Sold 520 Salaries Expense 521 Advertising Expense 522 Depreciation Expense-Delivery Truck 523 Delivery Expense 525 Truck Repair and Maintenance Expense 529 Selling Expenses 531 Rent Expense 532 Depreciation Expense-Equipment 533 Depilation Expense 534 Amortization Expense-Patents 535 Insurance Expense Chapter 09 Homework (Application) eBook Calculator Transactions for fixed assets, including sale 1. EX 09.01 Instructions Chart of Accounts Journal 2. EX.09.06 3. EX.09.07 ALGO 4. EX.09.09.ALGO 5. EX.09.12 ALGO Chart of Accounts LIABILITIES 210 Accounts Payable 211 Salaries Payable 213 Sales Tax Payable 214 Interest Payabile 215 Notes Payable 536 Supplies Expense 539 Miscellaneous Expense 710 Interest Expense 720 Loss on Sale of Delivery Truck 721 Loss on Sale of Equipment 6. PR.09.05A BLANKSHEET 7. PR.09.06A BLANKSHEET 8. EX.09.11. EXCEL ALGO
