Accounting Graded Project 15 Part A

Oct 8th, 2015
Business Finance
Price: $10 USD

Question description

Part A

Prepare the general journal entries to record the following transactions for the Harris company.(The company uses the balance sheet approach for recording bad debts expenses.)


Dec 31 Recorded Bad Debts Expenses, 800


Jan. 3  Wrote off Jal's account as uncollected, $60

Mar. 4 Wrote off Jal's account as uncollectible, $75

Jul. 5  Recovered $4 from Hall

Aug. 19 Wrote off M.Wilson's account as uncollectible, $100

Nov. 7 Recovered $25 from Jal's

Part B

For each of the following, identify in Column 1 the category to which the account belongs, in column 2 the normal balance for the account , in column 3 the financial statement that the account in which the account balance is reported, and in column 4 the account's nature (temporary/permanent).

(1) Interes payable

(2) Interest receivable

(3) Discount on notes payable

(4) Store equipment

Part C

A computer server system, which had cost $210,000 and had accumulated depreciation of $147,000 was traded for a new system with a fair market value of $235,000. The od system and cash of $180,000 were given for the new system.

Prepare the journal entry for the exchange of these similar assets.

Prepare journal entries for the following for Bartz, Inc.

May 11 Replaced the engine in a Van #1, paying cash of $5,400

May 18 Paid cash for a tune-up of the engine in Van # 2 of $570

May 29 Paid cash to add a lift to Van #2 of $3,700



Tutor Answer

(Top Tutor) GLOBALmind
School: UIUC

Studypool has helped 1,244,100 students

Review from student
" Totally impressed with results!! :-) "
Ask your homework questions. Receive quality answers!

Type your question here (or upload an image)

1826 tutors are online

Brown University

1271 Tutors

California Institute of Technology

2131 Tutors

Carnegie Mellon University

982 Tutors

Columbia University

1256 Tutors

Dartmouth University

2113 Tutors

Emory University

2279 Tutors

Harvard University

599 Tutors

Massachusetts Institute of Technology

2319 Tutors

New York University

1645 Tutors

Notre Dam University

1911 Tutors

Oklahoma University

2122 Tutors

Pennsylvania State University

932 Tutors

Princeton University

1211 Tutors

Stanford University

983 Tutors

University of California

1282 Tutors

Oxford University

123 Tutors

Yale University

2325 Tutors