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I know they're 2 questions but they're very short. thank you! Task 1.2: On September 12, Olympia Construction trades a truck with the historical cost
I know they're 2 questions but they're very short. thank you!
Task 1.2: On September 12, Olympia Construction trades a truck with the historical cost of $24 000 and a fair market value of $18 000 for a cement cutter. The cement cutter belonged to Chi Brothers Construction and had a historical cost of $22 000 and a fair market value of $18 000. Record the transaction for Olympia Construction. Record the transaction for Chi Brothers Construction. Journal - Page 30 Date 20-- Accounts and Explanation PR Debit Credit Task 1.3: On July 25, Ahmed Lecaj bought land for his business. The land cost $60 000. To ready the land for use, Ahmed had to pay for landscaping, $40 000; drainage and sewers, $30 000; inspection, $5 000; real estate commission, $10 000; and legal fees, $500. Record the purchase of the land. - 1 1 1 1 1 Journal - Page 30 Date 20-- Accounts and Explanation PR Debit Credit Chart of Accounts Cash Land Equipment Equipment - Cement Cutter Building Truck Accounts Payable Loss on Disposal of Truck Loss on Disposal of Cement CutterStep by Step Solution
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