Not sure how to do 'Req 2' and 'Req 3'. I've attached the 'Req 1B' which I checked and is correct.
Chapter 9 Homework (Algo) Saved Required information Part 2 of 2 [The following information applies to the questions displayed below.] Precision Construction entered into the following transactions during a recent year. 2 points January 2 Purchased a bulldozer for $290,000 by paying $40,000 cash and signing a $250,000 note due in five years. January 3 Replaced the steel tracks on the bulldozer at a cost of $40,000, purchased on account. The new steel tracks increase the bulldozer's operating efficiency. January 30 Wrote a 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 $2,800 cost. March 1 Paid $15,600 cash for the rights to use computer software for a two-year period. Print 1-b. Prepare the journal entries for each of the above transactions. 2. For the tangible and intangible assets acquired in the preceding transactions, determine the amount of depreciation and amortization that Precision Construction should report for the quarter ended March 31. The equipment is depreciated using the double-declining-balance method with a useful life of five years and $60,000 residual value. 3. Prepare a journal entry to record the depreciation and amortization calculated in requirement 2. Chapter 9 Homework (Algo) Saved Required information 3. Prepare a journal entry to record the depreciation and amortization calculated in requirement 2. Part 2 of 2 Complete this question by entering your answers in the tabs below. points Reg 1B 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.) Print View transaction list View journal entry worksheet Credit No 1 Date January 02 Debit 290,000 General Journal Equipment Cash Notes Payable (long-term) 40,000 250,000 2 January 03 40,000 Equipment Accounts Payable 40,000 1 3 January 30 40,000 Accounts Payable Cash 40,000 4 February 01 Repairs and Maintenance Expense 2,800 Cash 2,800 5 March 01 15,600 Licensing Rights Cash 15,600 Req1B Req 2 > Chapter 9 Homework (Algo) A Saved Required information (The following information applies to the questions displayed below.) Part 2 of 2 Precision Construction entered into the following transactions during a recent year. points January 2 Purchased a bulldozer for $290,000 by paying $40,000 cash and signing a $250,000 note due in five years. January 3 Replaced the steel tracks on the bulldozer at a cost of $40,000, purchased on account. The new steel tracks increase the bulldozer's operating efficiency. January 30 Wrote a 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 $2,800 cost. March 1 Paid $15,600 cash for the rights to use computer software for a two-year period. Print 1-b. Prepare the journal entries for each of the above transactions. 2. For the tangible and intangible assets acquired in the preceding transactions, determine the amount of depreciation and amortization that Precision Construction should report for the quarter ended March 31. The equipment is depreciated using the double-declining-balance method with a useful life of five years and $60,000 residual value. 3. Prepare a journal entry to record the depreciation and amortization calculated in requirement 2. Complete this question by entering your answers in the tabs below. Req 1B Reg 2 Reg 3 For the tangible and intangible assets acquired in the preceding transactions, determine the amount of depreciation and amortization that Precision Construction should report for the quarter ended March 31. The equipment is depreciated using the double-declining-balance method with a useful life of five years and $60,000 residual value. (Do not round intermediate calculations.) Partial Year Depreciation-Equipment Amortization Licensing Rights Req 1B Req3 > Chapter 9 Homework (Algo) Saved Required information [The following information applies to the questions displayed below.] Part 2 of 2 Precision Construction entered into the following transactions during a recent year, points January 2 Purchased a bulldozer for $290,000 by paying $40,000 cash and signing a $250,000 note due in five years. January 3 Replaced the steel tracks on the bulldozer at a cost of $40,000, purchased on account. The new steel tracks increase the bulldozer's operating efficiency. January 30 Wrote a 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 $2,800 cost. March 1 Paid $15,600 cash for the rights to use computer software for a two-year period. Print 1-b. Prepare the journal entries for each of the above transactions. 2. For the tangible and intangible assets acquired in the preceding transactions, determine the amount of depreciation and amortization that Precision Construction should report for the quarter ended March 31. The equipment is depreciated using the double-declining-balance method with a useful life of five years and $60,000 residual value. 3. Prepare a journal entry to record the depreciation and amortization calculated in requirement 2. Complete this question by entering your answers in the tabs below. Reg 1B Req 2 Reg 3 Prepare a journal entry to record the depreciation and amortization calculated in requirement 2. (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 Debit Credit No 1 Date March 31 General Journal Accumulated Depreciation Equipment Accumulated Depreciation Equipment
