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please help asap!! with details the transaction list number 3,4,5 and 6 Protect Purple Plants (PPP) uses the deferral method of accounting for contributions and
please help asap!! with details
Protect Purple Plants (PPP) uses the deferral method of accounting for contributions and has no separate fund for restricted contributions. On January 1 Year 6. PPP received its first restricted cash contribution-$120,000 for the purchase and maintenance of land and a greenhouse building for its rare purple plant collection On July 1 Year 6, PPP acquired land and a building for $22.000 and $80,000 cash, respectively. The building has an estimated usetul life of 20 years and zero residual value On December 31. Year 6, the remaining $18,000 cash was paid to Kj Maintenance Ltd. for a three-year maintenance contract that requires KJ personnel to provide maintenance services four days per month until December 31 Year 9 Required: Prepare the journal entries for the following dates: of no entry is required for a transaction/event, select "No journal entry required" in the first account field) 0) January 1 Year 6 (1) July 1. Year 6 () December 31. Year 6 Including year-end adjusting entries Check Required: Prepare the journal entries for the following dates (If no entry is required for a transaction/event, select "No journal entry required in the first account field.) January 1, Year 6 (6) July 1 Year 6 (1) December 31 Year 6 including year-end adjusting entries View transaction list Record receipt of 1st restricted cash contribution Record purchase of land and building. 3 Record expensing of the Land Record amortization expense on building. / Credit 5. Record expensing of building amortization Record maintenance expenses paid in advance the transaction list number 3,4,5 and 6
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