Sem1 Problems.xlsx

# Sem1 Problems.xlsx - P10-5 To enter the journal entries...

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P10-5 To enter the journal entries, enter the appropriate account titles in the shaded cells in colum D and the appropriate amounts in the shaded cells in columns K and M. The account titles are required to be entered by the student in the shaded cells. However the are not graded. An asterisk (*) will appear before an incorrect amount in specific cells. 1. Accumulated depreciation of exchanged ass Cost of acquired asset Loss Cost of exchanged asset Cash Paid 2. Cost of Acquired asset Cost of exchanged asset Cash Paid 3. Cost of acquired asset Accumulated depreciation of exchanged ass Cost of exchanged asset Cash Paid Cash Received 4. Cost of acquired asset * Accumulated depreciation of exchanged ass Loss Cost of exchanged asset Cash received

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Name: mns ese cells 28,000 10,000 4,000 40,000 2,000 55,000 35,000 15,000 5,000 20,000 2,000 13,000 5,000 4,000 16,800 5,000 1,000 20,000 * 2,800
2016 Expenditures 1-Jan \$ 540,000 (12/12) \$ 540,000 1-May \$ 465,000 (8/12) \$ 310,000 1-Oct \$ 600,000 (3/12) \$ 150,000 \$ 1,605,000 \$ 1,000,000 1-Mar \$ 1,500,000 (10/12) \$ 1,250,000 30-Jun \$ 600,000 (6/12) \$ 300,000 \$ 2,100,000 \$ 1,550,000 \$ 2,550,000 weighted avg. acc exp. = \$1,000,000 weighted avg interest rate \$ 6,000,000 x 14 % = \$ 840,000 \$ 14,000,000 x 8 % = \$ 1,120,000 \$ 20,000,000 \$ 1,960,000 weighted avg interest rate= \$ 1,960,000 \$ 20,000,000

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• Fall '15
• THOMAS

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