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Journal transactions 1)a) on June 3, 2022 your company purchased a piece of equipment for $25,000 cash.| b) December 31, 2022 - record the amortization
Journal transactions
1)a) on June 3, 2022 your company purchased a piece of equipment for $25,000 cash.|
b) December 31, 2022 - record the amortization for the year assuming the equipment had a life of 10 years and residual value of $5000.
- May 30, 2022 you paid your company's $150 utility bill using cash.
- February 28, 2022. Previously recorded unearned revenue of $2,800 has been earned.
- Ms. Snider invested $20,000 into her yoga business on July 1, 2022. On September 3, 2022 she withdrew $1,500 for personal usage. Please record each transaction separately.
- Chris Construction purchased $25,000 worth of lumber supplies and paid $2,000 freight on the shipment. Assume Chris Construction uses the periodic inventory system, so lumber purchases are recorded in the purchases account.
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