Question 14

Selected transactions of Coromandel Ltd are given below. The company uses straight-line depreciation and calculates depreciation expense to the nearest whole month.

2018

Jan. 4.Purchased from Brampton Ltd a bottle washer (Serial No. 17538X) for $46,000 cash (net of GST). The useful life of the machine is 5 years and its residual value is expected to be $8,000.

April 10. Purchased from Granada Ltd a dryer (Serial No. PY43121) for $41,000 cash (net of GST). The machine has a useful life of 6 years and a residual value of $9,000.

Prepare journal entries to record the purchase of the assets and to record depreciation expense on 30 June 2018 and 2019, the end of the company's reporting periods. (Enter all debit entries first, followed by all credit entries. Credit account titles are automatically indented when the amount is entered. Do not indent manually.)

Coromandel Ltd

General journal (extract)

Date Particulars Debit Credit

2018

Jan. 4

(To record purchase of bottle washer)

Apr. 10

(To record purchase of dryer)

June 30

(To record depreciation on machinery)

2019

June 30

(To record depreciation on machinery)

(debit, credit is number; Particulars choose from

GST receivable;Depreciation expense;Cash at bank;Accumulated depreciation ? machinery;Machinery)

11212 Online Assignment -1 WileyPLUS X 05 11243_Week 5 - Trust slic ACC 291 Week 2, Individual + v X https://edugen.wileyplus.com/edugen/Iti/main.uni . . . Find on page perp No results Options v X WileyPLUS Assessment to accompany Hoggett, Financial Accounting, 10e Help | System Announcements CALCULATOR PRINTER VERSION 1 BACK NEXT ASSIGNMENT RESOURCES Question 14 Online Assignment Part Selected transactions of Coromandel Ltd are given below. The company uses straight-line depreciation and calculates depreciation expense to the nearest whole month. Z Question 1 2018 Z Question 2 Purchased from Brampton Ltd a bottle washer (Serial No. 17538X) for $46,000 cash (net of GST). The useful life of the machine is 5 years and its residual value is Question 3 Jan. 4 expected to be $8,000. Z] Question 4 Question 5 April 10 Purchased from Granada Led a dryer (Serial No. PY43121) for $41,000 cash (net of GST). The machine has a useful life of 6 years and a residual value of $9,000. Question 6 Question 7 Z Question 8 A. Question 9 Prepare journal entries to record the purchase of the assets and to record depreciation expense on 30 June 2018 and 2019, the end of the company's reporting periods. (Enter all Question 10 debit entries first, followed by all credit entries. Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Z Question 11 Question 12 Coromandel Ltd Question 13 General journal (extract) Question 14 Date Particulars Debit Credit Question 15 2018 Jan. 4 Review Score Review Results by Study Objective V (To record purchase of bottle washer) Apr. 10 V V (To record purchase of dryer) June 30 V V O e ENG 20:59 Type here to search 05/05/2020