Question
The county approved GBIs building plans for their new warehouse. Estimated building costs are $1,050,000 which will be funded via a mortgage from Bank of
The county approved GBIs building plans for their new warehouse. Estimated building costs are $1,050,000 which will be funded via a mortgage from Bank of America. GBI plans to break ground on the new building April 18th of this year.
what would be the journal entry for this if i am doing the books for GBI?
these are the possible account names:
100000 | Bank Account |
110100 | Accounts Receivable (Direct Posting Account) |
110150 | Allowance for Bad Debt |
110200 | Interest Receivable |
200600 | Inventory-Operating Supplies |
200900 | Inventory-Raw Materials (Direct Post) |
200910 | Inventory-Finished Goods (Direct Post) |
200920 | Inventory-Trading Goods (Direct Post) |
200930 | Inventory-Semi-finished Goods (Direct Post) |
210000 | Prepaid Insurance |
211000 | Prepaid Supplies |
212000 | Prepaid Advertising |
215000 | Prepaid Rent |
216000 | Deposits |
220000 | Notes Receivable |
220110 | Land |
220210 | Production Machinery, Equipment and Fixtures |
220310 | Accumulated Depreciation Production mach, Equip. |
220400 | Office Furniture |
220500 | Accumulated Depreciation-Office Furniture |
220600 | Office Equip and Computers |
220700 | Accumulated Depreciation- Office Equipment |
300100 | Payables-Income Taxes |
300200 | Accounts Payable (Direct Posting Account) |
300300 | Payables-Interest |
300400 | Payables-Short-Term Notes |
300500 | Payables-Long-Term Notes |
300600 | Payables-Commissions |
300700 | Payables-Salaries and Wages |
300800 | Accrued Expense |
310000 | Goods Receipt / Invoice Receipt Account |
320000 | Accrued Tax Output |
321000 | Accrued Tax- Input |
322000 | Unearned Revenues |
329000 | Common Stock |
329100 | Additional Paid-in-Capital |
330010 | Retained Earnings (Direct Post) |
600000 | Sales Revenue |
610000 | Sales Discount |
620000 | Miscellaneous Revenue |
630000 | Revenue Deductions |
640000 | Gain or Loss on Sale of Assets |
650000 | Customer Service Revenue |
650100 | Customer Service Revenue Settlement |
720000 | Raw Material Consumption Expense |
720100 | Finished Product Consumption Expense |
720200 | Trading Good Consumption Expense |
720300 | Semi-Finished Consumption Expense |
740000 | Supplies Expense |
740100 | Utilities Expense
|
740300 | Rent Expense |
740400 | Insurance Expense |
740500 | Payroll Expense-Office |
740600 | Payroll Expense-Administrative |
740700 | Sales Expense |
740800 | Tax Expense - Property |
740900 | Tax Expense- Income |
741000 | Miscellaneous Expense |
741100 | Labor Expense |
741200 | Bad Debt Expense |
741300 | Information Technology Expense Account |
741400 | Production Order Variance Expense Account |
741600 | Manufacturing Output settlement |
741700 | Manufacturing Output Settlement Variance |
741800 | Depreciation Expense |
741900 | Advertising Expense |
742000 | Vendor Discounts Missed |
742100 | Shipping Expense |
760000 | Purchase Price Difference |
760100 | Production Variance |
770000 | Research and Development |
780000 | Cost of Goods Sold |
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