1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
vodomira [7]
2 years ago
12

Precision Construction entered into the following transactions during a recent year.

Business
1 answer:
shusha [124]2 years ago
8 0

Answer:

Jan-02

Dr Bulldozer $ 250,000

Cr Cash $ 20,000

Cr Note Payable $ 230,000

Jan-03

Dr Bulldozer $ 20,000

Cr Accounts Payable $ 20,000

Jan-30

Dr Accounts Payable $ 20,000

Cr Cash $ 20,000

Feb-01

Dr Repair and Maintenance Expense $ 800

Cr Cash $ 800

Mar-01

Dr Computer Software $ 3,600

Cr Cash $ 3,600

Explanation:

Preparation of the journal entries for each of the above transactions.

Jan-02

Dr Bulldozer $ 250,000

Cr Cash $ 20,000

Cr Note Payable $ 230,000

(Purchased bulldozer)

Jan-03

Dr Bulldozer $ 20,000

Cr Accounts Payable $ 20,000

(Replaced tracks on bulldozer)

Jan-30

Dr Accounts Payable $ 20,000

Cr Cash $ 20,000

(Paid cash)

Feb-01

Dr Repair and Maintenance Expense $ 800

Cr Cash $ 800

(Repaired seat of bulldozer)

Mar-01

Dr Computer Software $ 3,600

Cr Cash $ 3,600

(Purchase computer software)

You might be interested in
When budgets are used for control,
ladessa [460]

Answer:

(C) actual amounts from different years are compared.

Explanation:

Budgets are used for control. To compare the performace is necessary to have a same period, with almost the same characteristics and evaluate the actual performance. In sales for example, the bussineses has different seasons around the year, and because some sociodemographic reasons.

5 0
3 years ago
When the price of hot dogs decreases, what happens in the market for the complementary good of hot dog buns?.
NikAS [45]
I’m pretty sure it’s that the market for complementary goods increase
7 0
1 year ago
Unlimited marital deduction applies when there is an outright bequest of stock
dmitriy555 [2]
That statement is true.
<span>outright bequest is another term for 'inheritance;.
When a man dies without writing any particular will, all of the assets that the man possess would be given to the spose. Due to unlimited marital deduction, the wife does not need to pay any form of taxes for all the wealth that she recieved</span>
3 0
3 years ago
What is a government bond that is repaid within 3 months to a year?
sattari [20]
The right answer for the question that is being asked and shown above is that: "d. Federal Reserve Note." a government bond that is repaid within 3 months to a year is called the d. Federal Reserve Note. 
4 0
3 years ago
Read 2 more answers
In each succeeding payment on an installment note:
Serggg [28]

Answer:

In each succeeding payment on an installment note:

b. The amount that goes to interest expense decreases.

Explanation:

With each installment settled, the principal amount will continue to reduce and as a result, the amount that will be recognized as interest expense will also decrease.  This is because the interest expense is calculated based on the principal amount, which is decreasing with each installment.  The interest expense for a previous period will not be the same for the future period.

5 0
3 years ago
Other questions:
  • Complete the statement by filling in the correct terms.
    6·2 answers
  • 1. How is inflation measured? Fill in the blanks to complete the passage about the CPI and the GDP deflator. The Consumer Price
    6·1 answer
  • Bloom and Co. has no debt or preferred stock it uses only equity capital, and has two equally sized divisions. Division X's cost
    7·1 answer
  • An oral auction has bidders willing to pay $4, $6, $9, $12, $13, and $15 for an item. The winning bidder will pay a little more
    12·1 answer
  • On November 27, 2007, The Dow Jones Industrial Average closed at 12,958.44, which was up 215.04 that day. What was the return (i
    8·1 answer
  • You know that firm XYZ is very poorly run. On a scale of 1 (worst) to 10 (best), you would give it a score of 3. The market cons
    9·1 answer
  • Over the first four years of a company's life, it earned the following net income (loss):______.
    11·1 answer
  • Sort the list below according to whether or not an item is an assumption made under perfect competition (aka pure competition or
    8·1 answer
  • Manuel works for a very large company that sells stocks to shareholders. This is an advantage for which type of business structu
    10·1 answer
  • To convert a balance sheet into a commonsize balance sheet statement, we restate all the numbers as percentages of ________. a.
    5·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!