Question 1 of 1 -/50 Swifty Corporation's unadjusted trial balance at December 1, 2017 is presented below Credit Debit 526,100 37,000 8,600 0 36,070 3,900 20,500 163,200 60.500 10.620 $500 54,400 24 200 27,000 12.700 0 Cash Accounts Receivable Notes Receivable Interest Receivable Inventory Prepaid insurance Land Buildings Equipment Patent Allowance for Doubtful Accounts Accumulated Depreciation-Buildings Accumulated Depreciation-Equipment Accounts Payable Salaries and Wages Payable Notes Payable (due April 30, 2018) Income To Payable Interest Payable Notes Payable due in 2023) Common Stock Retained Earnings Dividends Sales Revenue Interest Reven Gain on Disposal of Plant Assets Bad Debt Expense Cost of Goods Sold Depreciation Expense Income Tax Expense Insurance Expens interest Expense Other Operating Expenses Amortation Expense Stories and Wages Experts Tota 35.900 54,600 53,690 13,000 927,500 0 0 640.000 0 0 62.000 0 109.000 51.190.490 51.190,490 + 22 yon/indet inchid coch 6978600 Question 1 of 1 -750 The following transactions occurred during December Purchased equipment for $17.400, plus sales taxes of $1,800 paid in cash). Dec 2 2 15 23 Swifty sold for $3.500 equipment which originally cost $5,100. Accumulated depreciation on this equipment at January 1, 2017, was $1,800: 2017 depreciation prior to the sale of equipment was $400 Swifty sold for $5,400 on account inventory that cost $3,350. Salaries and wages of $6.430 were paid Adjustment data: 2 3. 5. 6 Swifty estimates that uncollectible accounts receivable at year-end are $4.000 The note receivable is a one year, 8% note dated April 1, 2017 No interest has been recorded The balance in prepaid insurance represents payment of a $3,900 6-month premium on September 1, 2017 The bullding is being depreciated using the straight-line method over 30 years. The salvage value is $30,300 The equipment owned prior to this year is being depreciated using the straight line method over 5 years. The salvage value is 10% of cost The equipment purchased on December 2, 2017. is beine depreciated using the straight line method over 5 years, with a salvage value of $1.920 The patent was acquired on January 1, 2017, and has a useful life of years from that date Unpaid salaries at December 31, 2017 total $2,040. Both the short term and long term notes payable are dated January 1, 2017 and carry a 10% interest rate. All Interestis payable in the next 12 months Income tax expense was 513,300. It was unpaidat December 31 7 8 9 10 Part 1 Prepare journal entries for the tractions listed above and adjusting entries (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. Record journal entries in the order presented in the problem) Debit Credit Date Account Titles and Explanation NWUM play/bedek. Pritachid clic ele-46567 Scal94040/ Question 1 of 1 - 50 Date Account Titles and Explanation Debit Credit (To record depreciation expensen qulomot.) (To record sale of equipment: forecordate To record cost of goods sold) E NWP Asesment Player Ul AX + sessment.pl/indes manche 014-4636910 6000 Question 1 of 1 -/50 E 1. 2 5 10 Touthool and Matu E Question 1 of 1 8.88/50 Prepare an adjusted trial balance at December 31, 2017 GROUPER CORP Adjusted Trial Balance Debit Credit Question 1 of 1 -/50 Swifty Corporation's unadjusted trial balance at December 1, 2017 is presented below Credit Debit 526,100 37,000 8,600 0 36,070 3,900 20,500 163,200 60.500 10.620 $500 54,400 24 200 27,000 12.700 0 Cash Accounts Receivable Notes Receivable Interest Receivable Inventory Prepaid insurance Land Buildings Equipment Patent Allowance for Doubtful Accounts Accumulated Depreciation-Buildings Accumulated Depreciation-Equipment Accounts Payable Salaries and Wages Payable Notes Payable (due April 30, 2018) Income To Payable Interest Payable Notes Payable due in 2023) Common Stock Retained Earnings Dividends Sales Revenue Interest Reven Gain on Disposal of Plant Assets Bad Debt Expense Cost of Goods Sold Depreciation Expense Income Tax Expense Insurance Expens interest Expense Other Operating Expenses Amortation Expense Stories and Wages Experts Tota 35.900 54,600 53,690 13,000 927,500 0 0 640.000 0 0 62.000 0 109.000 51.190.490 51.190,490 + 22 yon/indet inchid coch 6978600 Question 1 of 1 -750 The following transactions occurred during December Purchased equipment for $17.400, plus sales taxes of $1,800 paid in cash). Dec 2 2 15 23 Swifty sold for $3.500 equipment which originally cost $5,100. Accumulated depreciation on this equipment at January 1, 2017, was $1,800: 2017 depreciation prior to the sale of equipment was $400 Swifty sold for $5,400 on account inventory that cost $3,350. Salaries and wages of $6.430 were paid Adjustment data: 2 3. 5. 6 Swifty estimates that uncollectible accounts receivable at year-end are $4.000 The note receivable is a one year, 8% note dated April 1, 2017 No interest has been recorded The balance in prepaid insurance represents payment of a $3,900 6-month premium on September 1, 2017 The bullding is being depreciated using the straight-line method over 30 years. The salvage value is $30,300 The equipment owned prior to this year is being depreciated using the straight line method over 5 years. The salvage value is 10% of cost The equipment purchased on December 2, 2017. is beine depreciated using the straight line method over 5 years, with a salvage value of $1.920 The patent was acquired on January 1, 2017, and has a useful life of years from that date Unpaid salaries at December 31, 2017 total $2,040. Both the short term and long term notes payable are dated January 1, 2017 and carry a 10% interest rate. All Interestis payable in the next 12 months Income tax expense was 513,300. It was unpaidat December 31 7 8 9 10 Part 1 Prepare journal entries for the tractions listed above and adjusting entries (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. Record journal entries in the order presented in the problem) Debit Credit Date Account Titles and Explanation NWUM play/bedek. Pritachid clic ele-46567 Scal94040/ Question 1 of 1 - 50 Date Account Titles and Explanation Debit Credit (To record depreciation expensen qulomot.) (To record sale of equipment: forecordate To record cost of goods sold) E NWP Asesment Player Ul AX + sessment.pl/indes manche 014-4636910 6000 Question 1 of 1 -/50 E 1. 2 5 10 Touthool and Matu E Question 1 of 1 8.88/50 Prepare an adjusted trial balance at December 31, 2017 GROUPER CORP Adjusted Trial Balance Debit Credit