Q2.

American eating habits. The company's accounts include Land, Buildings, Office Equipment, and Communica Fation account for each depreciable asset. During 2024. Janie Mills Associates completed the following transac transactions.) le x More info un Purchased office equipment. $111.000 Paid $81,000 cash and financed the remainder Jan. 1 with a note payable Acquired land and communication equipment in a lump-sum purchase. Total cost was $390,000 paid in cash. An independent appraisal valued the land at $307, 125 and the Apr. 1 communication equipment at $102,375 Sold a building that cost $555,000 (accumulated depreciation of $255,000 through December 31 of the preceding year). Janie Mills Associates received $330,000 cash from the sale of the building. Depreciation is computed on a straight-line basis. The building has a 40-year useful life and a residual value of $75,000 Recorded depreciation as follows: Communication equipment is depreciated by the straight-line method over a five-year life with zero residual value Office equipment is depreciated using the double-declining- Dec. 31 balance method over five years with a $5,000 residual value. Sep. 1 ani Sal va Print Done or enter any number in the input fields and then continue to the next question. -Test a e LG . Janie Mills Associates surveys American eating habits. The company's accounts include Land, Buildings, Office Equipment, and Communication Equipment with a garate Accumulated Depreciation account for each depreciable asset. During 2024 Janie Mills Associates completed the following transactions Click the icon to view the transactions) Record the transactions in the journal of Janie Mills Associates (Record debits first, then credits Select the explanation on the last line of the journal entry table) Jen. 1. Purchased office equipment. $111.000 Paid $81.000 cash and financed the remainder with a note payable (Record a single compound joumal entry) Accounts and Explanation Debit Credit om 4:20 9pm 53pm 124/20 Sim Apr 1. Aged land and communication equipment in a lump sum purchase. Total cost was 5.980000 paid in cash An independent appraisal valued the land at 5307.125 and the communication woment at $102.375 Record a single compound jumaltry) Account and Explanation Debit Credit Apr 1 1/24/20 120 11:59 11/24/20 Choose from any store any number in the outers and then continue to the best question 1124 11:55pm Chester.net om O LG Sol 12 911 $10 FA F Ape Acquired land and communication equipment in a lump sum purchase. Total cost was $390,000 paid in cash. An independent appraisal valued the land at $307,125 and the communication equipment 5102 375. (Record a single compound joumal entry) Date Accounts and Explanation Debit Credit Apr1 CO 20 4/20 Spen Sep 1: Sold a buling that com 5555.000 (nccumulated depreciation of $255.000 through December 31 of the preceding year) Jarle Mets Associates received 5330.000 cash from the sale of the building Depreciation is computed on a straight line basis. The building has a 40-year useful life and a residual value of $75.000 Before we record the sale of the building, we must record depreciation on the building through September 1, 2024 Date Accounts and Explanation Debit Credit Sep 1 59pm 124/20 1/24/20 11:59pm Choose from any list or enter any number in the inputs and then continue to the ned guestion Chapter 10 Ch11 om O LG 512 $11 F10 Bad Sep 1 Sold a building that cost $566,000 (accumulated depreciation of $255,000 through December 31 of the preceding year) Janie Mills Associates received $330.000 cash from the sale of the building Depreciation is computed on a straight line basis. The building has a 40-year useful Me and a residual value of $75,000 Before we record the sale of the building, we must record depreciation on the building through September 1, 2024 Date Accounts and Explanation Debit Credit Sep 1 Now record the sale of the building on September 1 Date Accounts and Explanation Sep 1 Debit Credit on 20 om 4/20 Apm Choose from any to enter any amber in the inputs and then continue to the next question 24/20 5pm Chapter 10 124/20 15 Som Chatte Test O LG 912 Wh 110 " Badiate und 0 Now record the sale of the building on September 1 Date Accounts and Explanation Debit Credit Sep 1 Dec. 31 Record depreciation on the communication ment Communication equipment is depreciated by the straight line method over a five-year life with zero n Accounts and Explanation Die Dec. 31 Debit Credor 20 20/20 Choose from any to enter ymber in the input sends and then continue to the next question 120/20 -59pm Chet FOOL 124/20 O LG $11 912 40 9 Record the transactions in the journal of Jane Ms Associates Foco conosce pana Dec 31 Record depreciation on the communication equipment Communication equipment is depreciated by the straight-line method over a five-year life with zero residual value Date Accounts and Explanation Debat Credit Dec 31 Dec 31 Record depreciation on the oficent Office equipment is deprecated using the double decling balance method over five years with a 55.000 esidual Date Accounts and Explanation Debat 20 Credit Dec 31 Ano opm 124/20 52 Choose from my store any ben the input fields and then continue to the next question 11:51 Chat 1124 O LG 992 311 110 net e Driate 6 O 5 Dec. 31 Record depreciation on the office equipment Office equipment is depreciated using the double-declining balance method over five years with a 55,000 residual value Dale Accounts and Explanation Debit Credit Dec. 31 Choose from any list or enter any be in the inputs and then continue to the next question 1/20 pm no Chapter Chatte 0 LG 12 110 Delete 8 7 6 5 O 4 U Ener T R G Shift Please answer the question in full if you know how to do it! 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