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please help , could not find any videos how to do it. At December 31, 2017, Flounder Corporation reported the following plant assets, $5,883,000 3,175,075
please help , could not find any videos how to do it.
At December 31, 2017, Flounder Corporation reported the following plant assets, $5,883,000 3,175,075 Land Buildings Less: Accumulated depreciation--buildings Equipment Less: Accumulated depreciation-equipment Total plant assets $26,560,000 23,384.925 78,410,000 9.805.000 68,635,000 $77,693,075 Vie During 2018, the following selected cash transactions occurred, Apr 1 Purchased land for $4,314.200. May Sold equipment that cost $1,176,600 when purchased on January 1, 2011. The equipment was sold for $333,370. June 1 Sold land for $3.137.600. The land cost 51.961.000. July 1 Purchased equipment for $2.157.100 Dec 31 Retired equipment that cost $1,372,700 when purchased on December 31, 2008. No salvage value was received, 1 Que Journalize the transactions. Flounder uses straight-line depreciation for buildings and equipment. The buildings are estimated to have a 40-year useful life and no salvage value; the equipment is estimated to have a 10-year useful life and no salvage value. Update depreciation on assets disposed of at the time of sale or retirement. (Record entries in the order displayed in the problem statement. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter for the amounts.) Date Account Titles and Explanation Credit Debit (To record depreciation on equipment sold) (To record depreciation on equipment retired) e Textbook and Media Record adjusting entries for depreciation for 2018. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter O for the amounts.) Date Account Titles and Explanation Debit Credit Dec. 31 (To record depreciation on buildings.) Dec. 31 (To record depreciation on equipment.) A Prepare the plant assets section of Flounder's balance sheet at December 31, 2018. (Hint: You may wish to set up Taccounts, post beginning balances, and then post 2018 transactions.) (List Plant Assets in order of Land, Building and Equipment) Ac FLOUNDER CORPORATION Partial Balance Sheet Qu Aca . Qu Acco Que ACCO Viev 7 Accou $ Ques
please help , could not find any videos how to do it.
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