First Questions Journal Instructions Chart of Accounts Eg General Ledger ASSETS REVENUE 110 Cash 410 Sales 111 Petty Cash 610 Interest Revenue 112 Accounts Receivable 620 Gain on Sale of Delivery Truck 621 Gain on Sate of Equipment 114 Interest Receivable 115 Notes Receivable 116 Merchandise Inventory 117 Supplies EXPENSES 119 Prepaid Insurance 510 Cost of Merchandise Sold 520, Salaries Expense 521 Advertising Expense 120 Land First Questions Journal Instructions Chart of Accounts Eq 123 Delivery Truck 124 Accumulated Depreciation-Delivery Truck 125 Equipment 126 Accumulated Depreciation Equipment 130 Mineral Rights 131 Accumulated Depletion 522 Depreciation Expense-Delivery Truck 523 Delivery Expense 524 Repairs and Maintenance Expense 529 Selling Expenses 531 Rent Expense 532 Depreciation Expense-Equipment 533 Depletion Expense 534 Amortization Expense-Patents 535 Insurance Expense 536 Supplies Expense 539 Miscellaneous Expense 132 Goodwill 133 Patents LIABILITIES 210 Accounts Payable 211 Salaries Payable 710 Interest Expense Instructions Chart of Accounts First Questions Journal Instructions Chart of Accounts LIABILITIES Ed 530 Supplies Expense 210 Accounts Payable 211 Salaries Payable 213 Sales Tax Payable 214 Interest Payable 215 Notes Payable 539 Miscellaneous Expense 710 Interest Expense 720 Loss on Sale of Delivery Truck 721 Loss on Sale of Equipment EQUITY 310 Owner's Capital 311 Owner's Drawing instructions Chart of Accounts First Questions Journal First Questions A. What was the annual amount of depreciation for the Years 1-3 using the straight-line method of depreciation? Year 1 depreciation expense Year 2 depreciation expense Year 3 depreciation expense $ B. What was the book value of the equipment on January 1 of Year 42 S Chart of Accounts First Questions Journal Instructions Journal Assuming that the woment was sold on January 3 of Your 4 for $420, 140, Journalize the entry to record the sales Refer to the Chart or Accounts for exact won account bites JOURNAL ACCOUNTING EQUATI DATE DSCAPTION POSTRO DET CREDIT LIMITIES 1 Chart of Accounts First Questions Journal Instructions Journal ng that the equipment was sold on January 3 of Year 4 for $428,880, journalize the entry to record the sale Refer to the Chart of Accounts for exact wording or les GE JOURNAL ACCOUNTING EQUATION DATE DESCRUPTION POST. HER DELIT CREDIT ASSETS LIABILITIES EQUITY Chart of Accounts First Questions Journal III Instructions Journal D. Assuming that the equipment had been sold on January 3 of Yoar 4 for $459. 160 instead of 5428,880, Journal the entry to record the sale. Refer to the Chart Accounts for exact wording of account bles JOURNAL ACCOUNTING EQUAT DATE DESCRIPTION POSTRES DET CREDIT Chart of Accounts First Questions Journal Instructions Journal ng that the equipment had been sold on January 3 of Year 4 for $159 160 isted of $426.800 joumalize the entry to record the Refer to the Chart of brexact wording of account the JOURNAL ACCOUNTING EQUATION BUATE DESCRIPTION POSER DET CREDIT ASSETS LABILITIES EQUITY