Customer Service Chat
Get quote & make Payment
accounting project, Accounting Basics
journal entries and how to calculate entries
1. Braves estimates bad debt expense at 2% of net sales
2. At 12/31/11, 6 months of rent remains on the storage facility Braves leased on 7/1/10 when it paid $36,000 for a two-year rental.
3. Depreciation on the equipment (excluding the new computers) is computed at 8% per year with a $15,000 salvage value.
4. Depreciation on the Building is computed at 3% per year with a $50,000 salvage value.
5. Depreciation on the new computers is computed straight-line using a 4-year life and no salvage value. Braves’ policy is to record a full month’s depreciation when the assets are purchased and no depreciation in the month of disposal.
6. The 9% Note Payable was issued by Braves Corp. on 7/1/11 and is due on 7/1/12.
7. Salaries earned by employees from 12/19 to 12/31 amount to $12,000.
8. The December utility bill amounts to $2,000.
9. At year-end $20,000 of office supplies are on hand.
10. On 7/1/11, Braves Corp. purchased a three-year fire insurance policy for $36,000 paying the full amount on that day.
11. Braves’ income tax rate is 19%.
Posted Date: 11/5/2012 2:07:12 PM | Location :
Ask an Expert
accounting project, Assignment Help, Ask Question on accounting project, Get Answer, Expert's Help, accounting project Discussions
Write discussion on accounting project
Your posts are moderated
Write your message here..
A baker makes 500 cream-filled eclairs at a cost of $0.72, A baker makes 50...
A baker makes 500 cream-filled eclairs at a cost of $0.72 each. He estimates that 10% of the eclairs will be sold the following day at a reduced price of $0.80 each. Find the mar
Define the product costs, Q. Define the Product costs? Product costs ar...
Q. Define the Product costs? Product costs are costs earns in the acquisition or manufacture of goods. Since you will see in the next section included as product costs for purc
Role and activities of an accountant, Having discussed the possibility of a...
Having discussed the possibility of accounting and its emerging function, we are currently in a position to illustrates as to who is an accountant. In an attempt to reply this ques
What is depreciation, Q. What is Depreciation? Depreciation -- an expen...
Q. What is Depreciation? Depreciation -- an expense which is supposed to reflect the loss in value of a fixed asset. Forinstance if a machine will entirely wear out after ten y
Accounts payable, what is Accounts payable process?
what is Accounts payable process?
Cost, how much is it to get a tutor, per hour or package? i am in an mba pr...
how much is it to get a tutor, per hour or package? i am in an mba program now
Non-compliance, Elaborate the consequences of non-compliance of each of the...
Elaborate the consequences of non-compliance of each of the accounting concepts.
College accounting book, a decrease in owner''s equity may result from a(n)...
a decrease in owner''s equity may result from a(n) a. purchase of office supplies for cash b. withdrawal of cash from the business by owner c. revenue that is derived from sales of
Research state and local governmental financial accounting, You recently la...
You recently landed your dream job working for the state as an accountant. You are given the task to research several state and local governmental financial accounting issues. F
Explain inventory turnover ratio, Q. Explain Inventory turnover ratio? ...
Q. Explain Inventory turnover ratio? An important ratio for managers, investors, and creditors to consider when analyzing a company's inventory is the inventory turnover ratio.
Accounting Assignment Help
Economics Assignment Help
Finance Assignment Help
Statistics Assignment Help
Physics Assignment Help
Chemistry Assignment Help
Math Assignment Help
Biology Assignment Help
English Assignment Help
Management Assignment Help
Engineering Assignment Help
Programming Assignment Help
Computer Science Assignment Help
Why Us ?
~24x7 hrs Support
~Quality of Work
~Time on Delivery
~Privacy of Work
Human Resource Management
Literature Review Writing Help
Follow Us |
T & C
Copyright by ExpertsMind IT Educational Pvt. Ltd.