FastForward purchased $25,000 of equipment for cash. The Equipment asset account is _______________ for $25,000 and the cash account is _______________ for $25,000.
举一反三
- 中国大学MOOC: A company purchased an equipment by paying $26, 000 cash. When this transaction is recorded, the cash account is debited for $26, 000.
- Company A issued 2,500 shares of its no par ordinary stock for cash. The price is $10 per share. The entry to record this transaction would be: A: Debit Cash $25,000; credit Share Premium in Excess of Par Value $25,000. B: Debit Cash $25,000; credit Ordinary Stock $25,000. C: Debit Ordinary Stock $25,000; credit Cash $25,000. D: Debit Treasury Stock $25,000; credit Cash $25,000.
- R company sold old equipment for $25 000. The equipment had a cost of $50 000 and accumulated depreciation of $30 000. The entry to record the sale of the equipment would include a ( ). A: loss on disposal of $25 000 B: gain on disposal of $25 000 C: loss on disposal of $5 000 D: gain on disposal of $5 000
- Oliver Ltd purchased a piece of equipment for $20 000. It paid GST of $2000, shipping charges of $500, and insurance during transit of $200. Installation and testing of the new equipment cost $1000. The total to be debited to the Equipment account is: A: $22 000 B: $22 700 C: $23 000 D: $23 700
- 中国大学MOOC: A company purchased an equipment by paying £26,000 cash. When this transaction is entered in the journal, the equipment account is ________ for £26,000 and ….