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Question 9-9

Topeka Stores accepts both its own and national credit cards. During the year the following selected summary transactions occurred. Journalize the transactions for Topeka Stores

Question E9-12

Singletary Company had the following select transactions.

Instructions

Prepare journal entries to record the transactions. Singletary prepares adjusting entries once a year on December 31.

Question P9-5A

At December 31, 2008, the trial balance of Worcester Company contained the following amounts before adjustment.

Question P9-6A

Mendosa Company closes its books monthly. On September 30, selected ledger account balances are: Notes Receivable include the following. Interest is computed using a 360-day year. During October, the following transactions were completed. ACC 557 Chapter 10 Chapter E10- 7 Brainiac Company purchased a delivery truck for $30,000 on January 1, 2008. The truck has an expected salvage value of $2,000, and is expected to be driven 100,000 miles over its estimated useful life of 8 years. Actual miles driven were 15,000 in 2008 and 12,000 in 2009.

Question E10-8

Jerry Grant, the new controller of Blackburn Company, has reviewed the expected useful lives and salvage values of selected depreciable assets at the beginning of 2008. His findings are as follows. All assets are depreciated by the straight-line method. Blackburn Company uses a calendar year in preparing annual financial statements. After discussion, management has agreed to accept Jerry's proposed changes. Beka Company owns equipment that cost $50,000 when purchased on January 1, 2005. It has been depreciated using the straight-line method based on estimated salvage value of $5,000 and an estimated useful life of 5 years.

Instructions

Prepare Beka Company's journal entries to record the sale of the equipment in these four independent situations.