List of accounts Accounts Payable Accounts Receivable Accumulated Depreciation Buildings Accumulated Depreciation Equipment Accumulated Depreciation Leasehold Improvements Accumulated Depreciation Machinery Accumulated Depreciation Vehicles Advertising Expense Asset Retirement Obligation Buildings Cash Common Shares Contributed Surplus Contributed Surplus Donated Capital Cost of Goods Sold Deferred Revenue Government Grants Depreciation Expense Donation Revenue Equipment Finance Expense Finance Revenue Gain or Loss in Value of Investment Property Gain on Disposal of Building Gain on Disposal of Equipment Gain on Disposal of Machinery Gain on Disposal of Vehicles GST Payable GST Receivable Interest Expense Interest Income Interest Payable Interest Receivable Inventory Investment Property Land Land Improvements Loss on Disposal of Building Loss on Disposal of Equipment Loss on Disposal of Land Loss on Disposal of Machinery Loss on Disposal of Vehicles Machinery Repairs and Maintenance Expense Mineral Resources Mortgage Payable No Entry Notes Payable Notes Receivable Office Expense Owner's Drawings Prepaid Expenses Prepaid Insurance Profit on Construction Purchase Discounts Purchase Returns and Allowances Rent Expense Revaluation Gain or Loss Revaluation Surplus (OCI) Revenue Government Grants Salaries and Wages Expense Salaries and Wages Payable Sales Revenue Service Revenue Supplies Supplies Expense Tenant Deposits Liability Vehicles Ch 10 Homework Part 1 Question 3 of 3 2 ili the information needed to record the machine exchange between the companies Secord Bateman Shripad Ansong Machine cost $ 114,000 $ 139,650 $ 152,000 $ 123,500 Accumulated depreciation machinery 42,750 67,450 71,250 0 Fair value 65,550 87,400 95,000 175,750 Part 1 For each of the four independent situations, assume that Marigold accepts the offer Prepare the journal entries to record the exchange on the books of each company Assume that transactions 2 and 3 lack commercial substance for Bateman Company and Shripad Company respectively (Credit account titles are automatically indented when the amount is entered Do not indent manually If no entry is required, select No Entry for the account titles and enter for the amounts ) Transaction 1 Marigold Corporation Account Titles and Explanation Debit Credit Cash 21,850 f Ch 10 Homework Part 1 Question 3 of 3 72 III Machinery 152 000 Secord Company Account Titles and Explanation Debit Credit Machinery 87,400 Accumulated Depreciation Machinery 42 750 Loss on Disposal of Machinery 5,700 Cash 21 850 Machinery 114,000 Transaction 2 Marigold Corporation Account Titles and Explanation Debit Credit

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Posted on Aug 05, 2024

List of accounts: Accounts Payable Accounts Receivable Accumulated Depreciation - Buildings Accumulated Depreciation - Equipment Accumulated Depreciation - Leasehold Improvements Accumulated Depreciation - Machinery Accumulated

image text in transcribed List of accounts:

Accounts Payable
Accounts Receivable
Accumulated Depreciation - Buildings
Accumulated Depreciation - Equipment
Accumulated Depreciation - Leasehold Improvements
Accumulated Depreciation - Machinery
Accumulated Depreciation - Vehicles
Advertising Expense
Asset Retirement Obligation
Buildings
Cash
Common Shares
Contributed Surplus
Contributed Surplus - Donated Capital
Cost of Goods Sold
Deferred Revenue - Government Grants
Depreciation Expense
Donation Revenue
Equipment
Finance Expense
Finance Revenue
Gain or Loss in Value of Investment Property
Gain on Disposal of Building
Gain on Disposal of Equipment
Gain on Disposal of Machinery
Gain on Disposal of Vehicles
GST Payable
GST Receivable
Interest Expense
Interest Income
Interest Payable
Interest Receivable
Inventory
Investment Property
Land
Land Improvements
Loss on Disposal of Building
Loss on Disposal of Equipment
Loss on Disposal of Land
Loss on Disposal of Machinery
Loss on Disposal of Vehicles
Machinery
Repairs and Maintenance Expense
Mineral Resources
Mortgage Payable
No Entry
Notes Payable
Notes Receivable
Office Expense
Owner's Drawings
Prepaid Expenses
Prepaid Insurance
Profit on Construction
Purchase Discounts
Purchase Returns and Allowances
Rent Expense
Revaluation Gain or Loss
Revaluation Surplus (OCI)
Revenue - Government Grants
Salaries and Wages Expense
Salaries and Wages Payable
Sales Revenue
Service Revenue
Supplies
Supplies Expense
Tenant Deposits Liability
Vehicles

+ Ch 10: Homework Part 1 Question 3 of 3 -/2 ili the information needed to record the machine exchange between the companies: Secord Bateman Shripad Ansong Machine cost $ 114,000 $ 139,650 $ 152,000 $ 123,500 Accumulated depreciation-machinery 42,750 67,450 71,250 -0 Fair value 65,550 87,400 95,000 175,750 Part 1 For each of the four independent situations, assume that Marigold accepts the offer. Prepare the journal entries to record the exchange on the books of each company. Assume that transactions 2 and 3 lack commercial substance for Bateman Company and Shripad Company respectively. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter for the amounts.) Transaction 1: Marigold Corporation Account Titles and Explanation Debit Credit Cash 21,850 f Ch 10: Homework Part 1 Question 3 of 3 -72 III Machinery 152.000 Secord Company Account Titles and Explanation Debit Credit Machinery 87,400 Accumulated Depreciation - Machinery 42.750 Loss on Disposal of Machinery 5,700 Cash 21.850 Machinery 114,000 Transaction 2: Marigold Corporation Account Titles and Explanation Debit Credit