In the books of Stafford Press Journal Entries Date Particulars 1 Cash a/c dr Loss on sale of land and building
a/c dr Accumalated Depreciation on Building To Land To Building 2 Cash a/c dr Accumalated Depreciation on Equipment Dr. To Equipment To profit on sale of equipment 3 Equipment Dr To Cash To discount received 4 Land Dr To cash 5 Equipment (new) Dr Accumulated Depriciation A/c Dr. To cash TO equipment (old) 6 Building Dr To Cash To mortgage 7 Expenses on equipment relocating Dr. to Cash 8.1 Expenses on equipment repairing Dr To cash 8.2 Depreciation Dr. To Accumalated depreciation Amt Dr. Amt Cr. 149860 35182 199056 34034 350064 35200 40890 73645 2445 114189 111947 2242 175185 175185 27630 5200 20830 12000 561000 136000 425000 11834 11834 3220 3220 110 1358556 0 110 1358556
Ledgers A/c
Dr Particulars Dr To Op.Bal To Land To Building To Euipment
Cash A/c Amount Particulars2 Cash A/c 395868 By Euipment 34034 By Land 115826 By Euipment 35200 By Building By Relocation By Repairing By Bal. 580928
Cr. Amonut Cr. 111947 175185 20830 136000 11834 3220 121912 580928
Column1 Dr Particulars To Op.Bal To Cash
Column2 Land A/c Amount 34034 175185 209219
Column1 Column2 Column3 Dr Accu. Dep. On Building Particulars Amount Particulars To Building 199056 By Bal. 199056 Column1 Column2 Column3 Dr Retained Earning Particulars Amount Particulars To Building 35182 By Bal. To Exp. Relocation 11834 By Euipment To Repair 3220 By Dis. Re'ed To Dep. 110 To Bal. 312989 363335 0
Column4 Cr. Amonut 199056 199056 Column4 Cr. Amonut 358648 2445 2242
Column1 Column2 Dr Accu. Dep. On Euipment Particulars Amount To Euipment To Euipment To Bal. 40890 5200 132942 179032
363335
Column3 Particulars By Cash By Bal.
Column4 Cr. Amonut 34034 175185 209219
Column1 Dr Particulars To Op.Bal To Cash To Mortgage
Column2 Building A/c Amount
Column3 Particulars
350064 By Cash 136000 By Acu. Dep. 425000 By Loss By Bal. 911064
Column1 Dr Particulars Column4 Cr. Amonut 178922 110 To Op.Bal. To Cash To Dis. Re'ed To Cash To Profit
Column2 Column3 Equipment A/c Amount Particulars 265093 By Cash 111947 By Accu. Dep. 2242 By Accu. Dep. 20830 2445 By Bal. 402557
Column3 ep. On Euipment Particulars By Bal. By Dep.
179032 0
Column4 Cr. Amonut 115826 199056 35182 561000 911064 Column4 Cr. Amonut 35200 40890 5200
321267 402557
Stafford Press Condensed balance sheet (After the move) Assets Current Assets Cash Other Current assets Total Current assets Property and Equipment Land Buildings less accumulated depreciation Equipments less accumulated depreciation Amt Amt Liabilities & owners Equity Current liabilities Common stock Retained Earnings Mortgage
121912 251790 373702
175185 561000 0 321267 132942 561000 188325 1298212 0
Amt 160223 400000 312989 425000
1298212
In the books of Stern Corporation Journal Entries 1 Cash a/c Dr Accumulated Depreciation A/c To Machinery A/c 2 Consumed Tools A/c Dr. To Tools A/c 3 Cash A/c Dr. Accumulated Depreciation A/c Dr. Loss on Sale of Automobile A/c Dr. To Automobile A/c 4 Depreciation A/c Dr. To Patent A/c 5 Cash A/c Dr. Accumulated Depreciation A/c Dr. To Profit on Sale on Depreciated Asset A/c To Type Write A/c 6 Cash A/c Dr. Accumulated Depreciation A/c Dr. To Furniture A/c To profit on sale of furniture A/c 7 Depreciation A/c Dr. To Building A/c 8 Depreciation A/c Dr. To Machinery A/c 9 Depreciation A/c Dr. To Furniture A/c 10 Depreciation A/c Dr. To Automobile A/c 11 Depreciation A/c Dr. To Office machinery A/c
3866 27367 31233 7850 7850 2336 5458 560 8354 11250 11250 75 1027 75 1027 80 432 490 22 48105 48105 330935 330935 5599 5599 9989 9989 4151 459080 4151 459080
Dr. op 1 3 5 6
Cash A/c 671344 3866 2336 75 80 677701
Cr.
Column1 Liability Accounts Payable Taxes Payable O/s Salary Long Term Debt Long Term Debt Common Stock Retained Earning
Column2 Amount 510000 709354 141478 69300 1247368 2503275 2432439
Column3 Assets Cash Net Accounts Receivables U.S. Treasury Securities Inventory Investment Land Buiding Less Accumulated Dep. Factory Machinery Less Accumulated Dep. Furniture & Fixture Less Accumulated Dep. Automotive Equipment Less Accumulated Dep. Office Machine Less Accumulated Dep. Tools Less Written off Patent Less Written off Prepaid Expenses
Column32
Column4 Amount 677701 958609 274060 1734405 412294 186563 1693775 1448426 10390 7979 10378 53444 45000 100190 7613214
2405259 711484 3394352 1945926 55994 45604 49944 41965 41507 31129 61294 7850 56250 11250
7613214 Total Assets 0
