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I'm Stuck on Both questions 1-A Filling in the Assets and Liabilities/Stockholders equity And Req 1B (1-5) Required information [The following information applies to the
I'm Stuck on Both questions 1-A Filling in the Assets and Liabilities/Stockholders equity And Req 1B (1-5)
Required information [The following information applies to the questions displayed below] Precision Construction entered into the following transactions during a recent year. January 2 Purchased a bulldozer for $272.000 by paying $31.000 cash and signing a $241,000 note due in five years. January 3 Replaced the steel tracks on the bulldozer at a cost of $31.000, purchased on account. The new steel tracks Increase the bulldozer's operating efficiency. January 30 Wrote check for the amount owed on account for the work completed on January 3. February 1 Repaired the leather seat on the bulldozer and wrote a check for the full $1,900 cost. March 1 Paid $10,200 cash for the rights to use computer software for a two-year period Required: Question 1 1-a. Complete the table below for the above transactions (Enter any decreases to Assets, Liabilities, or Stockholders' Equity with a minus sign.) Date Assets Liabilities Stockholders' Equity January 02 January 03 January 30 February 01 March 01 Question 2 Complete this question by entering your answers in the tabs below. Reg 18 Reg 2 Reg 3 Prepare the journal entries for each of the above transactions. (If no entry is required for a transaction/event, select "No Journal Entry Required in the first account field.) View transaction list View journal entry worksheet No Date Credit Debit 272,000 1 January 02 General Journal Equipment Cash Notes Payable (long-term) 31,000 241,000 2 January 03 31.000 Equipment Accounts Payable 31.000 January 30 31.000 Amortization Expense Accounts Payable 31,000 February 01 1,900 Repairs and Maintenance Expense Cash 1,900 75 March 01 Licensing Rights 10,200 Cash 10.200Step by Step Solution
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