Make an adjusting entry for balance sheet

Assignment Help Accounting Basics
Reference no: EM13670267

Purchased dental equipment on jan.1 for $80,000, paying $20,000 in cash and signing a $60,000 3-year note payable. The equipment depreciates $400 per month. interest is $500 per month. I need to make an adjusting entry for balance sheet date Jan. 31

Reference no: EM13670267

Questions Cloud

Discuss differences between straight and convertible bonds : Find related articles on the Internet and discuss the differences between straight and convertible bonds as well as the differences between stock options and warrants. Provide the links for your classmates.
Roberts corporation and william company : Roberts Corporation and William Company
Business forms stock ownership : Business Forms Stock Ownership
The cost method recognize the precision : The cost method recognize the precision and salon are separate legal entities
Make an adjusting entry for balance sheet : Make an adjusting entry for balance sheet
Positive and negative points based on your overall judgment : Write a critical review of the article above. Critically evaluate the strengths and weaknesses of the opinions of the author and discuss both the positive and negative points based on your overall judgment.
Gregory and lulu clifden tax return : Gregory and Lulu Clifden's Tax Return
What was the total stockholders equity : What was the total stockholders' equity?
What was the financial performance of johnson : What was the financial performance of Johnson & Johnson over the past 5 years (include gross revenue, net income, market capitalization, and earning per share)? Use table format.

Reviews

Write a Review

 

Accounting Basics Questions & Answers

  Determine the contribution margin per direct labor-hour

The Bird Toy Company manufactures a line of dolls and a doll dress sewing kit. Demand for the dolls is increasing, and management requests assistance from you in determining an economical sales and production mix for the coming year.

  Minute maid sees research as the fundamental first step in

minute maid sees research as the fundamental first step in any business decision and it created proprietary methods for

  When a company sells the product for cash it generally

when a company sells the product for cash it generally recognizes the revenue. but therere situations when it isnt

  Advanced technologies balance sheet caption for common

advanced technologies balance sheet caption for common stock is common stock 10 par value 7000000 shares authorized

  Selected accounts with some debits and credits omitted are

selected accounts with some debits and credits omitted are presented as follows work in process aug. 1 balance 275000

  Issuance of bonds and payment of interest

On March 1, Year 1, a firm issues $475,000 bonds at par value plus accrued interest. The stated rate on the bonds was 12% and the bonds pay interest semi-annually on June 30 and December 31. Prepare the entries necessary to record

  Ramifications of raising taxes for wealthy

What are your thoughts on the three proposals outlined above, and please feel free to suggest anything that you feel should also be considered in reducing the deficit.

  Case study of alpine west

Alpine West Inc. operates a downhill ski area near Lake Tahoe, California. An all-day adult ticket can be purchased for $55. Adult customers also can purchase a season pass that entitles the pass holder to ski any day during the season

  An examination of the accounting records of clowney company

an examination of the accounting records of clowney company disclosed a high contribution margin ratio and production

  Corio corporation reports that at an activity level of 3600

corio corporation reports that at an activity level of 3600 units its total variable cost is 198900 and its total fixed

  Bates company acquired patent rights on jan 1 2010 for

bates company acquired patent rights on jan 1 2010 for 1125000. this has an estimated useful life of 10 years and

  How to prepare the reversing entries from the adjusting

how to prepare the reversing entries from the adjusting entries as follows and tranferrer to the ledger ? advertising

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd