Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

For journal entry answers in the blankes with the appropriate account name and amount. I should always be first sorted habetically if there are mutil

image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
For journal entry answers in the blankes with the appropriate account name and amount. I should always be first sorted habetically if there are mutil debits Then in likewise sorted alphabetically if there are multiple credits. The account name must come from the provided it and must be tolerated exactly same. There must be exactly 1 space between the account name and the amount. The amount must not include a 5 en and all answers should be rounded to the heart dollar. For example of the correct answer is Accounts Receivable for 40.000 it must be written as A/R 40000 NR 40.000 to be counted correct. Accts. Rec. 146.000.00 counted incorrect. If no entry is needed, you must type "No Entry in all blanks for that event. No blanks should be left empty Account List Must Match Exactly Account Names (Don't Use) Abbreviations (Use These!) Cash Cash Bonds Payable B/P Premium on BP Prem-B/P Urent wrepaid on AbberDean Manufacturing (ADM) as the lessee signed a lease agreement for a piece of equipment for years, beginning Januari 2016. Annuairent payments of 574.000 are to be made at the beginning of each ease year January 1st. The appropriate interest rates and the present value for a 501722. The market value of equipment at lease inception is $427,381.68. The economic life of the equipment is 10 years. ADM has appropriately closed the transaction is a finance less Theme does not contain any purchase options and ADM must return the equipment to the lessor at the end of the lease term. ADM uses the straine method of depreciating similar assets that it owns What is the lournal entry to record the catalizine of the equipment on January 1, 20167 Hound to the nearest dollar. Do not have any blanks moty, but rather write Entry if that space is not used in the journal entry, Debit Credit What is the journal entry to record the lease payment on January 1, 20167 hound to the nearest dollar. Do not leave any blanks emoty, but the weath space is not used in the journal entry Debit Credit Question completion Status 19 12 What is the journal entry to record the lease payment on January 1, 20162 Round to the newest delar Do not leave my banks to the wory space is not used in the journal entry Credit What are the adustine journal entries that need to be recorded on 12/31/167 These would have been presentas 2 searate entries in class. You can write them si entries, but iust sort the account names alphabetically into 1 entry. Round to the nearest dollar. Do not leave any blankes empty, but rather write Entry used in the journal entry. Debit Credit un 1 20177 Round to the nearest dollar. Do not leave any blanks empty, but rather write to Entry What are the adjusting journal entries that need to be recorded on 12/31/17 These would have been presents 2 arte entre in You can do them entries but iust sort the account names alphabetically into 1 entry. Round to the nearest dollar. Do not weary blanks emotyw with used in the journal entry. Debit Credit 5 Years later at the end of the lease term ADM returns the leased auloment and posts the last adjusting entrys). After this adjusting entry what we the remaining was of the two accounts capitalized in the first journal entry for this question? These answers should only include numbers and no account names. Round to the nearest dollar, Balance of account that was debited on 1/1/16 Click Save and Submit to save and submit. Click Save All Answers to save all answers. ly For journal entry answers in the blankes with the appropriate account name and amount. I should always be first sorted habetically if there are mutil debits Then in likewise sorted alphabetically if there are multiple credits. The account name must come from the provided it and must be tolerated exactly same. There must be exactly 1 space between the account name and the amount. The amount must not include a 5 en and all answers should be rounded to the heart dollar. For example of the correct answer is Accounts Receivable for 40.000 it must be written as A/R 40000 NR 40.000 to be counted correct. Accts. Rec. 146.000.00 counted incorrect. If no entry is needed, you must type "No Entry in all blanks for that event. No blanks should be left empty Account List Must Match Exactly Account Names (Don't Use) Abbreviations (Use These!) Cash Cash Bonds Payable B/P Premium on BP Prem-B/P Urent wrepaid on AbberDean Manufacturing (ADM) as the lessee signed a lease agreement for a piece of equipment for years, beginning Januari 2016. Annuairent payments of 574.000 are to be made at the beginning of each ease year January 1st. The appropriate interest rates and the present value for a 501722. The market value of equipment at lease inception is $427,381.68. The economic life of the equipment is 10 years. ADM has appropriately closed the transaction is a finance less Theme does not contain any purchase options and ADM must return the equipment to the lessor at the end of the lease term. ADM uses the straine method of depreciating similar assets that it owns What is the lournal entry to record the catalizine of the equipment on January 1, 20167 Hound to the nearest dollar. Do not have any blanks moty, but rather write Entry if that space is not used in the journal entry, Debit Credit What is the journal entry to record the lease payment on January 1, 20167 hound to the nearest dollar. Do not leave any blanks emoty, but the weath space is not used in the journal entry Debit Credit Question completion Status 19 12 What is the journal entry to record the lease payment on January 1, 20162 Round to the newest delar Do not leave my banks to the wory space is not used in the journal entry Credit What are the adustine journal entries that need to be recorded on 12/31/167 These would have been presentas 2 searate entries in class. You can write them si entries, but iust sort the account names alphabetically into 1 entry. Round to the nearest dollar. Do not leave any blankes empty, but rather write Entry used in the journal entry. Debit Credit un 1 20177 Round to the nearest dollar. Do not leave any blanks empty, but rather write to Entry What are the adjusting journal entries that need to be recorded on 12/31/17 These would have been presents 2 arte entre in You can do them entries but iust sort the account names alphabetically into 1 entry. Round to the nearest dollar. Do not weary blanks emotyw with used in the journal entry. Debit Credit 5 Years later at the end of the lease term ADM returns the leased auloment and posts the last adjusting entrys). After this adjusting entry what we the remaining was of the two accounts capitalized in the first journal entry for this question? These answers should only include numbers and no account names. Round to the nearest dollar, Balance of account that was debited on 1/1/16 Click Save and Submit to save and submit. Click Save All Answers to save all answers. ly

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Students also viewed these Accounting questions