HW 9 ANSWERS ACCOUNTING

HW 9 ANSWERS ACCOUNTING - NOTE PAYABLE + 1800000 NE NE...

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Sheet1 Page 1 1 E C C E C C E 2 DEBIT CASH 1000 ACC DEP STORE FIX 6000 CREDIT STORE FIX 6400 GAIN ON DISPOSAL 600 3 TRUE DEBIT LAND 127400 BULIDINGS 76600 CREDIT CASH 204000 6000 192000 4 27000 850027000850018500 8500270001700010000 850027000255001500 \ 27000 612027000612020880 1402527000201456855 535527000255001500 \ 27000 1800027000180009000 600027000240003000 150027000255001500 5 5 6 12000120005300041000 16000180004900031000 26000156003900023400 \ DOUBLE DECLINE
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Sheet1 Page 2 \ UNITS OF PROD \ STRAIGHT-LINE 7 12200350002440071600 8 RENOVATE INSTALL PURCHASE 9 DEBIT DEPRECIATION EXPENSE 19560 CREDIT ACCCUL DEP A-2800 ACCCUL DEP B-7000 ACCCUL DEP C-9760 10 ASSETS CASH -20000 EQUIP +200000 EQUIP +20000 CASH -20000 CASH -600 CASH -2400 LICENSE RIGHTS +2400 LIABILITIES
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Unformatted text preview: NOTE PAYABLE + 1800000 NE NE ACCOUNTS PAY +20000 ACCOUNTS PAY -20000 NE NE NE NE NE NE STOCKHOLDER EQUI NE NE NE NE NE NE NE NE R&M EXPENSE -600 NE NE NE NE \ Sheet1 Page 3 DEBIT EQUIPMENT 200000 CREDIT CASH 20000 NOTE PAY 180000 \ DEBIT EQUIP 20000 CREDIT ACCOUNTS PAY 20000 \ DEBIT ACCOUNTS PAY 20000 CREDIT CASH 20000 \ DEBIT REPAIR MAINT EXPENSE 600 CREDIT 600 \ DEBIT LICENSING RIGHTS 2400 CREDIT CASH 2400 \ EQUIPMENT* 6666.67 (SOMETHING WRONG WITH MCGRAW FORMULA IS RIGHT) LICENSING RIGHTS 100 \ DEBIT DEPERCIATION EXPENSE 6,666* AMORTI EXPENSE 100 CREDIT ACCUMULATED DEP 66766* LICENSING RIGHTS 100...
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This note was uploaded on 03/22/2011 for the course ECON 101 taught by Professor James during the Spring '10 term at Buffalo State.

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HW 9 ANSWERS ACCOUNTING - NOTE PAYABLE + 1800000 NE NE...

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