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this is all of the given information. each photo has instructions and the top photo has the question break down. At January 1, 2017, Pharoah

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this is all of the given information.

each photo has instructions and the top photo has the question break down.

image text in transcribed

At January 1, 2017, Pharoah Company reported the following property, plant, and equipment accounts:

Accumulated depreciationbuildings $62,000,000 Accumulated depreciationequipment 52,750,000 Buildings 97,400,000 Equipment 150,300,000 Land 23,650,000

The company uses straight-line depreciation for buildings and equipment, its year-end is December 31, and it makes adjustments annually. The buildings are estimated to have a 40-year useful life and no salvage value; the equipment is estimated to have a 10-year useful life and no salvage value.

During 2017, the following selected transactions occurred:

Apr. 1 Purchased land for $4.30 million. Paid $1.075 million cash and issued a 3-year, 6% note payable for the balance. Interest on the note is payable annually each April 1. May 1 Sold equipment for $320,000 cash. The equipment cost $3.36 million when originally purchased on January 1, 2009. June 1 Sold land for $5.58 million. Received $600,000 cash and accepted a 3-year, 5% note for the balance. The land cost $1.30 million when purchased on June 1, 2011. Interest on the note is due annually each June 1. July 1 Purchased equipment for $2.60 million cash. Dec. 31

Retired equipment that cost $1 million when purchased on December 31, 2007. No proceeds were received.

Problem 4 January 1, 2017, Phares Campany report the followed Aerated depreciation-buildings 162.000,00 Accurate depreciation- 52.750.000 97.400.000 Equipment 150.300.000 SD DO The Cangany uses straighline depreciation for bladsy is December 31, and it makes. There are tired a avea 40- elferdsjevetheted a helyede geval Dans 2017, the foreseected transacred A1 Purchased land for 430 milen. Paldies cachadad a 3-acte ale for the balance meter that is payable anually each May 1 Sald eines for 200.000 cash. The cost $1.36 weergely purchased January 1, 2009 Soland for 53. Kecewed 800.000 cash and accepted years not for the balance. The land ca.. nilio whersele 1, 2011. Interest te reis de olyachine Purchased equipment for 2.6 in tash Dec. 31 Retred equipment that coat si me when purchased on December 31, 2007. Na proceeds were received Prepare tabularnary that includes the property, plant and equipment balances as of January 1.2017.(a transaction causa decrease in Alabilera or Stockholders' Equity place a negative in (or parenthe) in front of the amoune entered for the pure color blue Aute st HotecRec Baldings Accm. Depar.dgs. Accm Dept.- Equi-Test Payable + Hates Payable - Core Stock eve Lp Jan 1 Recherchtbar una trompart (alf a bransach causes a decrease in Austies ar Stockholders' Equity, place a mesign for parere) in front of the amount entered Liabilities the particular Asset Lility or Equity in that was redue) Stedes Equity Retained Earning Reverie Experise Divided . Hotes les . Acum. Depels + Fourt Accuw. Dewi. - Interest Payable + Hetes Payable. Carmen Stock 5 5 ME My Dec 21 Dec 1 Interest Loss endaposal Depreciation expense Denon diaposal LINE TO THE WINKA PEH WIRLARI record any attented December 31. (If a train cause decrease in Austa. Labie Stocktaiders for place anytime sign for parentheses) in front of the amount entered for the particular Accettability Equity that was rewed) Liabilite Stockholders' Equity Net Earnings Expense Mates Rec. Land Bunge Accur. De lys. + Ace Depeplaterest Payable + Wetes Payable - Common Stock + Asets + Table . Revenge David $ 5 5 My ! Interest Louson pasal Depreciatis expense Gais dispa Interest Dec. 31 Dec. 31 Dec. 31 $ Dec 31 Dec. 31 Show LIST OF ACCOUNTS -Lass and LINE TO TEXT LETO THE URK TO TORT VIDEO- STHILAN PROSLER VIDEO SIMILAR POLEH Tnterest revenue Depreciations Interests repare the property, plant, and equipment section of the company's statement of financial position at December 31. (List Property, Plars and Eq d Equipment in order of land Building and quipment PHARDAH COMPANY Statement of Financial Pestion Partial Prepare the property, plant, and equipment section of the company's statement of financial position at December 31. (List Property, plant and Equipment in on PHAROAH COMPANY Statement of Financial Position (Partial) CALCULATOR Problem - At January 1, 2017, Pharoah Company reported the following property, plant, and equipment accounts: Acumulate depresion-buildings $63,000,000 Accumulated depreciation-iment 52.750,000 Buildings 97.400,000 150,300,DOD 23.650.000 The company uses straight-ne derection for buildings and equipment, tayow-end is December 31, and it makes asustments anualy. The buildings are estimated to have a 40-year useful life and no salvage value; the equipment stated to have a 10-year useful feandro salvage value During 2017, the folong seeded transactions are: May 1 June 1 Parchand land for $4.70 milion Paid $1.075 milon cash and sound a 3-year, note payable for the balance. Interest on the note is payable anwaly each April Soldeument for $320,000 cash. The equipment cost $3.36 million when originally purchased on January 1, 2009 Sold land for $5.50 milon Received $600,000 cash and accepted a note for the balance. The land $1.3 milion when purchased on June 1, 2011. Interest on the note is due annually cach june 1 Purchased eument for 12.00 miliona Retredeument to 1 milion when purchased on December 31, 2007. No proces were received Dec 3 P

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