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Carrington Parts Co. has a scal year ending December 31. The company completed the following selected trans 0 (Click here to view the transaction data.) Required 1. Record the above transactions of Carrington Parts Co. Round all amounts to the nearest dollar. 2. Show the balance sheet presentation of the assets at December 31, 2020. Requirement 1. Record the above transactions of Carrington Parts Co. Round all amounts to the nearest dollar, Jul. 2. Paid $700,000 plus $25,000 in legal fees (pertaining to all assets purchased) to purchase the assets from . debits first, then credits. Exclude explanations from journal entries. Do not round intermediary calculatio Journal Entry Date 2019 llIEIl Credit Jul. Sep. 2, Purchased a delivery truck with a list price of $39,000 for $36,000 cash. The truck is expected to be used $4,900. It will be amortized using the UOP method, Journal Entry Choose from any list or enter any number in the input elds and then continue to the next question. o Tra nsaction Data 2019 Jul. 2 Paid $700,000 plus $25,000 in legal fees (pertaining to all assets purchased) to purchase the following assets from a competitor who was going out of business: Appraised Estimated Estimated Asset Value Useful Life Residual Value Land 420,000 Buildings 340,000 8 years $ 29,000 Equipment 170,000 3 years 2,300 Carrington Parts Co. plans to use the straight-line amortization method for the building and for the equipment. Purchased a delivery truck with a list price of $39,000 for $36,000 cash. The truck is expected to be used for three years and driven a total of 310,000 kilometres; it is then expected to be sold for $4,900. It will be amortized using the UOP method. Paid $3,400 to paint the truck with the company's colours and logo. Assume that this new truck has not been put into service yet. Recorded amortization on the assets. The truck had been driven 32,000 kilometres since it was purchased, Carrington Parts Co. has a fiscal year ending December 31. The company completed the following selected trans 0 (Click here to view the transaction data.) Required 1. Record the above transactions of Carrington Parts Co. Round all amounts to the nearest dollar. 2. Show the balance sheet presentation of the assets at December 31, 2020. Requirement 1. Record the above transactions of Carrington Parts 00. Round all amounts to the nearest dollar. Jul. 2. Paid $700,000 plus $25,000 in legal fees (pertaining to all assets purchased) to purchase the assets from debits rst, then credits. Exclude explanations from journal entries. Do not round intermediary calculatio Journal Entry Sep. 2. Purchased a delivery truck with a list price of $39,000 for $36,000 cash. The truck is expected to be used $4,900. It will be amortized using the UOP method. Journal Entry Choose from any list or enter any number in the input elds and then continue to the next question. 0 Transaction Data Sep. 2 Dec. 31 2020 May 4 Nov. 25 Dec. 31 Land $ 420,000 Buildings 340,000 8 years 85 29,000 Equipment 170,000 3 years 2,300 Carrington Parts Co. plans to use the straight-line amortization method for the building and for the equipment. Purchased a delivery truck with a list price of $39,000 for $36,000 cash. The truck is expected to be used for three years and driven a total of 310,000 kilometres; it is then expected to be sold for $4,900. It will be amortized using the UOP method. Paid $3,400 to paint the truck with the company's colours and logo. Assume that this new truck has not been put into service yet. Recorded amortization on the assets. The truck had been driven 32,000 kilometres since it was purchased. Carrington Parts Co. paid $11,900 to Bright's Services Ltd. for work done on the equipment. The job consisted of annual maintenance ($1,300) and the addition of automatic controls ($10,600) that allow the equipment to remain useful for the next ve years and increase its expected residual value by $1,000. Sold the truck for $23,600. The truck had an odometer reading of 175,000 kilometres. Recorded amortization on the assets. Print Done rington Parts Co. has a scal year ending December 31. The company completed the following selected transactions: (Click here to view the transaction data.) Required 1. Record the above transactions of Carrington Parts Co. Round all amounts to the nearest dollar, 2. Show the balance sheet presentation of the assets at December 31. 2020. Requirement 1. Record the above transactions of Carrington Parts Co. Round all amounts to the nearest dollar. A Jul. 2. Paid $700,000 plus $25,000 in legal fees (pertaining to all assets purchased) to purchase the assets from a competitor who was going out of business. Record the acquisition of the assets. (Record debits first, then credits. Exclude explanations from journal entries. Do not round intermediary calculations. Only round your answers to the nearest dollar.) Journal Entry Date 2019 llml Credit Jul. Sep. 2, Purchased a delivery truck with a list price of $39,000 for $36,000 cash. The truck is expected to be used for three years and driven a total of 310,000 kilometres; it is then expected to be sold for $4,900. It will be amortized using the UOP method. Journal Entry Date Choose from any list or enter any number in the input elds and then continue to the next question. Carrington Parts Co. has a scal year ending December 31. The company completed the following selected transactions: 0 (Click here to View the transaction data.) Required 1. Record the above transactions of Carrington Parts Co. Round all amounts to the nearest dollar. 2. Show the balance sheet presentation of the assets at December 31, 2020. Sep. 3. Paid $3,400 to paint the truck with the company's colours and logo. Dec. 31. Recorded amortization on the assets. The truck had been driven 32,000 kilometres since it was purchased. Begin with the amortization of the buildings. Choose from any list or enter any number in the input elds and then continue to the next question. |V|0 4 Carrington Parts Co. has a scal year ending December 31. The company completed the following selected transactions: 0 (Click here to view the transaction data.) Required 1. Record the above transactions of Carrington Parts Co. Round all amounts to the nearest dollar. 2. Show the balance sheet presentation of the assets at December 31, 2020. Record the amortization of the equipment. Record the amortization of the delivery truck. (Do not round intermediary calculations. Only round your answers to the nearest dollar.) Dec. |:| _ I: _ Choose from any list or enter any number in the input elds and then continue to the next question. Carrington Parts Co, has a fiscal year ending December 31. The company completed the following selected transactions: 0 (Click here to view the transaction data.) Required 1. Record the above transactions of Carrington Parts Co. Round all amounts to the nearest dollar. 2. Show the balance sheet presentation of the assets at December 31, 2020. May 4, 2020. Carrington Parts 00. paid $11,900 to Bright's Services Ltd. for work done on the equipment. The job consisted of annual maintenance ($1,300) and the addition of automatic controls ($10,600) that allow the equipment to remain useful for the next ve years and increase its expected residual value by $1,000. Journal Entry Date 2020 Nov. 25. Sold the truck for $23,600. The truck had an odometer reading of 175,000 kilometres. Begin by recording the amortization expense for the partial year up to the sa e date of November 25. (Do not round intermediary calculations. Only round your answer to the nearest dollar.) Journal Entry Date 2020 Choose from any list or enter any number in the input elds and then continue to the next question. Carrington Parts Co. has a scal year ending December 31. The company completed the following selected transactions: 0 (Click here to view the transaction data.) Required 1. Record the above transactions of Carrington Parts 00. Round all amounts to the nearest dollar. 2. Show the balance sheet presentation of the assets at December 31, 2020. Now that the amortization is up to date, we can record the sale of the truck. Nov. |_| _|| |' Dec. 31. Recorded amortization on the assets. Begin by recording the amortization of the buildings. Choose from any list or enter any number in the input elds and then continue to the next question. Carrington Parts Co. has a scal year ending December 31. The company completed the following selected transactions: 0 (Click here to View the transaction data.) Required 1. Record the above transactions of Carrington Parts 00. Round all amounts to the nearest dollar. 2. Show the balance sheet presentation of the assets at December 31 . 2020. W Next, record the amortization of the equipment. (Hint: Compute the amortization before the addition. Then compute the yearly amortization for the remaining useful life.) Dec. |_| _| ' Requirement 2. Show the balance sheet presentation of the assets at December 31, 2020. Choose from any list or enter any number in the input elds and then continue to the next question. 4 V U Carrington Parts Co. has a scal year ending December 31. The company completed the following selected transactions: 0 (Click hereto view the transaction data.) Required 1. Record the above transactions of Carrington Parts Co. Round all amounts to the nearest dollar. 2. Show the balance sheet presentation of the assets at December 31, 2020. Requirement 2. Show the balance sheet presentation of the assets at December 31, 2020. Choose from any list or enter any number in the input elds and then continue to the next