Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Dont need calculations! Just fill in the tables and recieve a like! Here are selected 2022 transactions of Carla Vista Corporation Jan 1 June 30
Dont need calculations! Just fill in the tables and recieve a like!
Here are selected 2022 transactions of Carla Vista Corporation Jan 1 June 30 Retired a piece of furniture that was purchased on January 1, 2012. The furniture cost $59.200 and had a useful life of 10 years with no residual value. Sold equipment that was purchased on January 1, 2020. The equipment cost $37 440 and had a useful life of 3 years with no residual value. The equipment was sold for $4,800 cash. Sold a vehicle for $3,800 cash. The vehicle cost $24,000 when it was purchased on January 1, 2019 and was depreciated based on a 5-year useful life with a $5.200 residual value Dec 31 Carla Vista Corporation uses straight-line depreciation. Prepare all entries required on the above dates, including entries to update depreciation on assets disposed of, where applicable. (Credit account tities are automatically indented when the amount is entered. Do not indent manually. List all debit entries before credit entries. Record journal entries in the order presented in the problem. I no entry is required, select "No Entry for the account titles and enter for the amounts.) Date Account Titles and Explanation Debit Credit Acumulated Dortation Equipment Epment Deprecation Expense Accumulated Depreciation Equipment (To record depreciation expense.) Depreciation Expense 0000 DI DONT HATE (To record the sale of equipment.) il I (To record depreciation experie. (To record sale of vehick) In providing accounting services to small businesses, you encounter the following situations. 1 2. Bonita Corporation rings up cash sales and sales taxes separately on its cash register. On April 10, the register totals are pre tax sales of sales $4,800 plus GST of $240 and PST of $384. Amy Corporation receives its annual property tax bill in the amount of $8,700 on May 31 (During the month of March, Swifty Corporation's employees earned gross salaries of $57 700. Withholdings deducted from employee earnings related to these salaries were $2.720 for CPP $1.065 for El, $6,800 for income taxes. (17) swifty's employer portions were $2.720 for CPP and $1.491 for El for the month . Prepare the journal entries to record the above transactions. (List all debit entries before credit entries. Credit account titles are automatically Indented when the amount is entered. Do not indent manually. Round answers to decimal places, es 5.275) Sr no. Account Titles and Explanation Debit Credit 1 cath Sales Sales Tax Payable 2 Property Tax Expense Property Tax Payable 30) Salaries Expense CPp Payable El Payable MOOTTORI DO MIODU Salaries Expanse Income Tax Payable 3 (11) Employee Benents Expense Cop Payable EI Payable Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started