Stumped on a couple of problems, any help would be great. Thank you in advance!!!
December 23 issued check 30109 and purchased additional store fixtures for better display and security of merchandise. The equipment lists for $4200 with trade discounts of 40% and 10% and sales tax on the net amount. ???
December 24 sold a used piece of shop equipment for $1995. The equipment was purchased at a total cost of $7200 in 2001. using units of production depreciation the accumulated depreciation account balance at the end of the quarter is $2850 (sept. 30) Deprecation rate is $2.00 per hour of operation. to December 24 and additional 234 hours of operation have accumulated. Two entries are required to properly record this sale. ???
December 31 Sold for 9 3/4 the remaining 500 shares of the Ramblewood Manufacuring Corporation common stock that was held as a short-term investment. The commissions charge was $126. This stock was a part of a block of 1000 shares purchased earlier at a total cost of $9250. ???
December 23 issued check 30109 and purchased additional store fixtures for better display and security of merchandise. The equipment lists for $4200 with trade discounts of 40% and 10% and sales tax on the net amount. ???
December 24 sold a used piece of shop equipment for $1995. The equipment was purchased at a total cost of $7200 in 2001. using units of production depreciation the accumulated depreciation account balance at the end of the quarter is $2850 (sept. 30) Deprecation rate is $2.00 per hour of operation. to December 24 and additional 234 hours of operation have accumulated. Two entries are required to properly record this sale. ???
December 31 Sold for 9 3/4 the remaining 500 shares of the Ramblewood Manufacuring Corporation common stock that was held as a short-term investment. The commissions charge was $126. This stock was a part of a block of 1000 shares purchased earlier at a total cost of $9250. ???