Business
Business, 23.04.2021 16:10, demelahar

The following expenditures relating to plant assets were made by Glenn Company during the first 2 months of 2014. Indicate the account title to which each expenditure should be debited.
1.
Paid $7,000 of accrued taxes at the time the plant site was acquired.
choose an account title
Land Improvements
Equipment
Prepaid Insurance
License Expense
Land
2.
Paid $200 insurance to cover a possible accident loss on new factory machinery while the machinery was in transit.
choose an account title
Land
License Expense
Land Improvements
Equipment
Prepaid Insurance
3.
Paid $850 sales taxes on a new delivery truck.
choose an account title
Prepaid Insurance
Land
Land Improvements
License Expense
Equipment
4.
Paid $21,000 for parking lots and driveways on the new plant site.
choose an account title
Land
Equipment
Prepaid Insurance
Land Improvements
License Expense
5.
Paid $250 to have the company name and slogan painted on the new delivery truck.
choose an account title
Land Improvements
Equipment
Prepaid Insurance
License Expense
Land
6.
Paid $8,000 for installation of new factory machinery.
choose an account title
Equipment
Land Improvements
Prepaid Insurance
Land
License Expense
7.
Paid $900 for a 1-year accident insurance policy on the new delivery truck.
choose an account title
Land
Prepaid Insurance
Equipment
License Expense
Land Improvements
8.
Paid $75 motor vehicle license fee on the new truck.
choose an account title
Prepaid Insurance
Equipment
License Expense
Land
Land Improvements

answer
Answers: 2

Other questions on the subject: Business

image
Business, 21.06.2019 21:00, elisakgarcia2007
The county collector of suncoast county is responsible for collecting all property taxes levied by funds and governments within the boundaries of the county. to reimburse the county for estimated administrative expenses of operating the tax agency fund, the agency fund deducts 1.5 percent from the collections for the town, the school district, and the other towns. the total amount deducted is added to the collections for the county and remitted to the suncoast county general fund. the following events occurred in 2017: 1. current-year tax levies to be collected by the agency were: county general fund $ 10,333,000 town of bayshore general fund 4,840,000 suncoast county consolidated school district 6,550,000 other towns 3,120,000 total $ 24,843,000 2. $13,700,000 of current taxes was collected during the first half of 2017.3. liabilities to all funds and governments as a result of the first half-year collections were recorded. (a schedule of amounts collected for each participant, showing the amount withheld for the county general fund and net amounts due the participants, is recommended for determining amounts to be recorded for this transaction.)4. all cash in the tax agency fund was distributed. requireda. prepare journal entries for each of the foregoing transactions that affected the tax agency fund. (if no entry is required for a transaction/event, select "no journal entry required" in the first account field. do not round intermediate calculations. round your answers to the nearest whole dollar amount.)1. record the current-year tax levies to be collected by the agency.2.record the current taxes collected during the first half of 2017.3.record the liabilities due to all funds and governments at the end of first half-year.4. record the distribution of all cash in the tax agency fundb. prepare journal entries for each of the foregoing entries that affected the town of bayshore general fund. begin with the tax levy entry, assuming 2 percent of the gross levy will be uncollectible. (if no entry is required for a transaction/event, select "no journal entry required" in the first account field. do not round intermediate calculations. round your answers to the nearest whole dollar amount.)1.record the revenues receivable and uncollectible.2. record the taxes collected
Answers: 3
image
Business, 22.06.2019 08:30, Maelynne8515
In risk management, what does risk control include? a. risk identification b. risk analysis c. risk prioritization d. risk management planning e. risk elimination need this answer now : (
Answers: 3
image
Business, 22.06.2019 19:00, williamsvilletiles
When making broccoli cream soup, the broccoli and aromatics should be a. burned. b. simmered. c. puréed. d. sweated.
Answers: 2
image
Business, 22.06.2019 21:00, sophiateaches053
Which of the following statements is correct? stockholders should generally be happier than bondholders to have managers invest in risky projects with high potential returns as opposed to safe projects with lower expected returns. potential conflicts between stockholders and bondholders are increased if a firm's bonds are convertible into its common stock. takeovers are most likely to be attempted if the target firm’s stock price is above its intrinsic value. one advantage of operating a business as a corporation is that stockholders can deduct their pro rata share of the taxes the firm pays, thereby eliminating the double taxation investors would face in a partnership.
Answers: 1
Do you know the correct answer?
The following expenditures relating to plant assets were made by Glenn Company during the first 2 mo...

Questions in other subjects:

Konu
Physics, 28.02.2020 19:19