list of accounts to use

Accounts Payable Accounts Receivable Accumulated Depreciation - Buildings Accumulated Depreciation - Equipment Accumulated Depreciation - Leasehold Improvements Accumulated Depreciation - Machinery Accumulated Depreciation - Trucks Advertising Expense Asset Retirement Obligation Buildings Cash Common Shares Contributed Surplus Cost of Goods Sold Deferred Revenue - Government Grants Depreciation Expense Donation Revenue Equipment Finance Expense Finance Revenue Gain in Value of Investment Property Gain on Disposal of Building Gain on Disposal of Equipment Gain on Disposal of Machinery Gain on Disposal of Truck Gain on Sale of Land GST Payable GST Receivable Interest Expense Interest Income Interest Payable Interest Receivable Inventory Investment Property Land Land Improvements Loss in Value of Investment Property Loss on Disposal of Building Loss on Disposal of Equipment Loss on Disposal of Land Loss on Disposal of Machinery Loss on Disposal of Truck Machinery Maintenance and Repairs 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 Trucks **PLEASE TAKE YOUR TIME WHEN ANSWERING READ THE REQUIREMENT CAREFULLY AND ONLY USE THE LIST OF ACCOUNTS PROVIDED THANKS !***

* Question 3 Kingbird Corporation acquires a gold mine at a cost of $395,000. Development costs that were incurred total $110,000, including $10,300 of depreciation on movable equipment to construct mine shafts. Based on construction to date, the legal obligation to restore the property after the mine is exhausted has a present value of $73,500. Kingbird has publicly pledged an additional $19,500 (present value) for improved reclamation of the area surrounding the mine. Your answer is partially correct. Try again. pare the journal entries to record the cost of the natural resource if Kingbird prepares financial statements in accordance with IFRS. (Credit account titles re automatically indented when the amount entered. Do not indent manually, If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) Account Titles and Explanation Debit Credit ineral Resource 395000 395000 To record purchase of a gold mine.) Depreciation Expense 0300 ccumulated Depreciation E (To record movable equipment entry.) ineral Resource sset Retirement Obligation 300 (To record property reclamation obligation.) x Your answer is incorrect. Try again. Prepare the journal entries to record the cost of the natural resource if Kingbird prepares financial statements in accordance with ASPE. (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 0 for the amounts.) x Your answer is incorrect. Try again. Prepare the journal entries to record the cost of the natural resource if Kingbird prepares financial statements in accordance with ASPE. (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 0 for the amounts.) Account Titles and Explanation Debit Credit To record purchase of a gold mine.) To record movable equipment entry.) To record property reclamation obligation.) Question Attempts: 1 of 3 used