Check my work 4 o Part 2 of 2 9 points Required information [The following information applies to the questions displayed below) Randy's Restaurant Company (RRC) entered into the following transactions during a recent year. April 1 Purchased equipment (a new walk-in cooler) for 67,200 by paying 02,100 cash and signing 55,100 note due in six months. April 2 Enhanced the equipment (by replacing the air-conditioning system in the walk-in cooler) at cost of $4,100. purchased on account. April 30 Wrote a check for the amount oved on account for the work completed on April 2. May 1A local carpentry company repaired the restaurants front door, for which RRC Vrote a check for the full 5230 coat. June 1 Paid 911,760 cash for the rights to use the name and store concept created by a different restaurant that has been successful in the region. bus Print Reference 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 Randy's Restaurant Company should report for the quarter ended June 30. Equipment is depreciated using the straight-line method with a useful life of five years and no residual value. The RRC franchise right is amortized using the straight line method with a useful life of four years and no 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. Reg 13 Reg 2 Reg 3 4 Required information une menou with a userume or Tour years and no residual value. 3. Prepare a journal entry to record the depreciation and amortization calculated in requirement 2. Part 2 of 2 Complete this question by entering your answers in the tabs below. 9 points Reg 1B Reg 2 Reg 3 eBook Print References For the tangible and intangible assets acquired in the preceding transactions, determine the amount of depreciation and amortization that Randy's Restaurant Company should report for the quarter ended June 30. Equipment is depreciated using the straight-line method with a useful life of five years and no residual value. The RRC franchise right is amortized using the straight-line method with a useful life of four years and no residual value. (Do not round intermediate calculations.) Show less Partial Year Equipment Franchise Rights Reg 18 Req3 > urie menou with a setur me or our years and no residual value. 3. Prepare a journal entry to record the depreciation and amortization calculated in requirement 2. Part 2 of 2 Complete this question by entering your answers in the tabs below. 9 points Reg 1B Reg 2 Reg 3 eBook Print Prepare a journal entry to record the depreciation and amortization calculated in requirement 2. (If no entry is required for a transaction/event, select "No Journal Entry Required in the first account field.) References View transaction list View journal entry worksheet General Journal Debit Credit No 1 Dato March 31 Depreciation Expense
