1. Business
  2. Accounting
  3. 2 kool co purchases and installs a machine on jan...

Question: 2 kool co purchases and installs a machine on jan...

Question details

2. KOOL Co. purchases and installs a machine on Jan. 1, 2013 at a cost of $109,000 Strigh-lie depreciation is taken each year assuming a seven-year life and a salvage cost of $4,00. The machine is disposed on Jun 29, 2017. 1) Journalize the depreciation cost of the Year 2013 and 2017.2) On Jun 2 2017 the machine is sold for $45,500 for cash. Journalize the transaction.
direct write-off method to deal 3. Journalize the transactions for TED Co, assuming the company uses with the uncollectible receivables. Sold merchandise No. 123 to a client A for $3,600 on credit term 2/10, n/30, at the cost of $3,000 Received payment from the client A Received $1,800 which was written off on Jan. 5, from client B Oct. 5 15 20
Solution by an expert tutor
Blurred Solution
This question has been solved
Subscribe to see this solution