Problems for Section 8B 8B-1. RASPBERRY Corporation's chart of accounts includes the following categories: Land, Equipment,...

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Problems for Section 8B 8B-1. RASPBERRY Corporations chart of accounts includes the following categories: Land, Equipment, P

July 1 Oct 2 Dec 31 Sold a building that had an original cost of $800,000 for $940.000 cash. The accumulated depreciation thr

Template for Problem 8B-1; Requirement 1 Name TA Name: Lab Section Time: Jan 2 Eement Feb July

Template for Problem 8B-1; Requirement 1 (continued) Oct 2 Requirement 2 Dec 31 Accumulated Depreciation Depreciation Expense

business accounting

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Answer 1

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CASHEUIPMENT

2ND JANBY EQUIPMENT 1,40,000.00 2ND JAN TO CASH 1,40,000.00

2ND JANBY LICENSE FEE 6,000.00 2ND JAN TO LICENSE FEE 6,000.00

2ND JANBY TAX 14,000.00 2ND JAN TO TAX 14,000.00

1,60,000.00 1,60,000.00

CASHCOAL FIELD

3RD FEBBY COAL FIELD 20,00,000.00 3RD FEBTO CASH 20,00,000.00

20,00,000.00 20,00,000.00

CASHCOPY RIGHT

4TH MARCHBY COPY RIGHT 1,20,000.00 4TH MARCHTO CASH 1,20,000.00

1,20,000.00 1,20,000.00

CASHLAND

5TH MARCHBY LAND 48,000.00 5TH MARCHTO CASH 48,000.00

5TH MARCHBY PATENT 12,000.00

60,000.00 48,000.00

PATENT

5TH MARCHTO CASH 12,000.00

12,000.00

CASHDEPRECIATION

1ST JULYTO ASSET 3,80,000.001ST JULYBY ASSET 20,000.00

1ST JULYTO PROFIT AND LOSS A/C 5,60,000.00

9,40,000.00 20,000.00

ASSETPROFIT AND LOSS A/C

1ST JULYBY DEPRECIATION 20,000.001ST JAN TO BALANCE B/F 4,00,000.001ST JULYBY PROFIT ON SALE OF ASSET 5,60,000.00

1ST JULYBY CASH 3,80,000.00

4,00,000.00 4,00,000.00 5,60,000.00

CASHEQUIPMENT

2ND OCTBY EQUIPMENT 1,30,000.00 2ND OCTTO CASH 1,30,000.00

2ND OCTTO OLD EQUIPMENT 25,000.00

2ND OCTTO PROFIT AND LOSS 25,000.00

1,30,000.00 1,80,000.00

OLD EQUIPMENTPROFIT AND LOSS A/C

2ND OCTBY EUIPMENT 25,000.002ND OCTTO BALANCE B/F 25,000.002ND OCTBY PROFIT ON TRADE OF EQUIPMENT 25,000.00

25,000.00 25,000.00 25,000.00

AMORTISATION EQUIPMENT 2ND JANDEPRECIATION EQUIPMENT 2ND JAN

31ST DECTO ASSET67435 31ST DEC 90,000.00

- 67,435.00 - 90,000.00

AMORTISATION COPY RIGHTDEPRECIATION COPY RIGHT

31ST DECTO COPY RIGHT 90,000.00 31ST DEC 30,000.00

- 90,000.00 - 30,000.00

AMORTISATION TRADED EQUIPMENTDEPRECIATION TRADED EQUIPMENT

31ST DECTO TRADED EQUIPMENT 1,50,000.00 31ST DEC 30,000.00

- 1,50,000.00 - 30,000.00

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Problems for Section 8B 8B-1. RASPBERRY Corporation's chart of accounts includes the following categories: Land, Equipment,...

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