Bell, Inc., has the following plant asset accounts: Land, Buildings, and Equipment, with a separate accumulated depreciation account for each of these except Land. Bell completed the following transactions (Click the icon to view the transactions) Read the requirement Requirement 1. Record the transactions in Bell's journal. (Record debits first, then credits. Exclude explanations from any journal entries. Round amounts to the nearest dollar) Jan 3. Traded in equipment with accumulated depreciation of $70,000 (cost of $138,000) for similar new equipment with a cash cost of $184,000. Received a trade-in allowance of $77,000 on the old equipment and paid $107.000 in cash Journal Entry Accounts Date Debit Credit Choose from any list or enter any number in the input fields and then continue to the next question. ipment, with a separate accumulated owing transactions Bell, Inc., has the Accumulated Depreciation - Building depreciation acc Accumulated Depreciation - Equipment (Click the ice Building Read the require Cash Depreciation Expense - Building Depreciation Expense - Equipment with a cash cost cash Equipment (Old) Gain on Exchange of Equipment Land Date Note Receivable Jan 3. Traded in Equipment (New) tof $138,000) for similar new equipment the old equipment and paid $107,000 in Debit Credit Unified Jan 3 Tool Choose from any list or enter any number in the input fields and then continue to the next question. hboard tefa 9 Bell, Inc., has the following plant asset accounts: Land, Buildings, and Equipment, with a separate accumulated depreciation account for each of these except Land Bell completed the following transactions (Click the icon to view the transactions.) Read the requirement Jun 30: Sold a building that had a cost of $660,000 and had accumulated depreciation of $160,000 through December 31 of the preceding year. Depreciation is computed on a straight line basis. The building has a 40-year useful life and a residual value of $220,000. Bell received $130,000 cash and a $364,500 note receivable. Before we record the sale of the building, we must record the depreciation expense for the current year. Start by journalizing depreciation expense on the building through June 30 Inurnal Entry Choose from any list or enter any number in the input fields and then continue to the next question. Bell, Inc., has the following plant asset accounts: Land, Buildings, and Equipment, with a separate accumulated depreciation account for each of these except Land Bell completed the following transactions (Click the icon to view the transactions) Read the requirement. Oct 31: Purchased land and a building for a single price of $320,000 cash. An independent appraisal valued the land at $70,200 and the building at $280.800 Journal Entry Accounts Debit Credit Date Oct 31 Choose from any list or enter any number in the input fields and then continue to the next question. 9782575757575757 Bell, Inc., has the following plant asset accounts: Land, Buildings and Equipment, with a separate accumulated depreciation account for each of these except Land. Bell completed the following transactions (Click the icon to view the transactions.) Read the requirement Dec 31: Equipment has an expected useful life of 4 years and an estimated residual value of 4% of cost. Depreciation is computed on the double-declining balance method. Prepare the entry to record depreciation on equipment through December 31 Journal Entry Accounts Debit Credit! Date Dec 31 Choose from any list or enter any number in the input fields and then continue to the next question, 'e - a oo # 9 1212121212121212121212121212222222 Bell, Inc., has the following plant asset accounts: Land, Buildings, and Equipment, with a separate accumulated depreciation account for each of these except Land. Bell completed the following transactions i (Click the icon to view the transactions.) Read the requirement Dec 31 Depreciation on buildings is computed by the straight-line method. The new building carries a 40-year useful life and a residual value equal to 10% of its cost. Prepare the entry to record depreciation on building (Round your answer to the nearest whole number.) Journal Entry Accounts Date Debit Credit Dec 31 Choose from any list or enter any number in the input fields and then continue to the next question. More Info Jan 3 Jun 30 Traded in equipment with accumulated depreciation of $70,000 (cost of $138,000) for similar new equipment with a cash cost of $184,000. Received a trade-in allowance of $77,000 on the old equipment and paid $107,000 in cash. Sold a building that had a cost of $660.000 and had accumulated depreciation of $160,000 through December 31 of the preceding year. Depreciation is computed on a straight-line basis. The building has a 40-year useful life and a residual value of $220,000. Bell received $130,000 cash and a $364,500 note receivable. Purchased land and a building for a single price of $320,000 cash. An independent appraisal valued the land at $70,200 and the building at $280,800. Recorded depreciation as follows: Equipment has an expected useful life of four years and an estimated residual value of 4% of cost. Depreciation is computed using the double-declining-balance method Depreciation on buildings is computed using the straight-line method. The new building carries a 4 voar useful life and a residual value Doual to 10% of its cost Oct 31 Dec 31 Print Done red * Requirement fear Dep e an your 1. Record the transactions in Bell's journal. ite 31 Print | Done from any list or enter any number in the input fields and then continue to the next question. A
