ACCOUNTING-Simons Equipment Ltd. purchased a delivery truck

Simons Equipment Ltd. purchased a delivery truck on June 1 for $42,000, paying $8,000 cash and signing a 6%, 2-month note for the remaining balance. The estimated useful life of the truck is expected to be 5 years. Simons prepares monthly financial statements.Instructions(a) Prepare the journal entry to record the purchase of the delivery truck on June 1.(b) Prepare any adjusting journal entries that should be made on June 30.(c) Show how the delivery truck will be reflected on Simons Equipment’s statement of financial position at June 30.

 

CLICK HERE TO ORDER A SIMILAR PAPER

We pride ourselves in writing quality essays

CLICK HERE TO CONTACT US

Lets Start Working

Plagiarism Free

We use anti-plagiarism software to ensure you get high-quality, unique papers. Besides, our writers have a zero plagiarism mentality

On Time Delivery

Your essay will be delivered strictly within the deadline.  If you have an urgent order, we can do it!

Money Back Guarantee

We offer warranty service, including free revisions, and a right to request a refund incase your expectations are not met!

THE BEST PAPER WRITER HELPER

Our Advantage

  • Say “NO” to plagiarism – FREE plagiarism report as an addition to your paper
  • The lowest prices that fit excellent quality
  • Authorship – you are the one who possesses the paper. We DO NOT re-sale or re-use any of them.

OUR PAPER WRITER HELPER GOODIES

Our Freebies

  • Free Cover Page
  • Free Revisions
  • Free Reference Page
  • Free 24/7 support

Pin It on Pinterest

Share This