Accounting Graded Project 15 Part A

Oct 8th, 2015
Steve1995
Category:
Accounting
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.)

2010

Dec 31 Recorded Bad Debts Expenses, 800

2011

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) Daniel C.
(997)
School: University of Virginia
PREMIUM TUTOR

Studypool has helped 1,244,100 students

8 Reviews


Summary
Quality
Communication
On Time
Value
pmallory
Dec 7th, 2016
" Totally impressed with results!! :-) "
mixedballz
Nov 28th, 2016
" excellent work as always thanks for the help "
Five Star Tutor
Nov 24th, 2016
" Outstanding Job!!!! "
kiln82
Nov 15th, 2016
" awesome work thanks "
darnay
Nov 6th, 2016
" The best tutor out there!!!! "
likeplum4
Nov 1st, 2016
" Excellent work as usual "
kpcutie
Oct 10th, 2016
" Excellent job "
Joemoe
Oct 1st, 2016
" <3 it, thanks for saving me time. "
Ask your homework questions. Receive quality answers!

Type your question here (or upload an image)

1829 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