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..
Example of current ratio, Q. Example of current ratio? The current asse...
Q. Example of current ratio? The current assets and current liabilities and current ratios of some other companies as of the third quarter of 2001 were As you are able to se
Methods be treated on the financial statements, Honesty AL, CPA, is compil...
Honesty AL, CPA, is compiling financial statement of significant accounting policies, Honesty AL discovers that the method used to value inventory in the past was stated as "invent
Illustrate about accounting cycle, Q. Illustrate about accounting cycle? ...
Q. Illustrate about accounting cycle? The accounting cycle is a series of points performed during the accounting period some throughout the period and some at the end to reco
Estimate interest rate and analysis market interest, Woodie Limited issues ...
Woodie Limited issues $5 million in convertible bonds on 1 July 2012. They are issued at the fair value and pay an interest rate of 4 percent. The interest is paid at the end of ea
Ratios and Analysis, Your report must include at a minimum the following it...
Your report must include at a minimum the following items. 1. Calculate the following ratios based on the 2011 financial statement: * Current ratio * Quick ratio * Total asset
Account, #quthe books of deven verma could not be tallied.the accountant tr...
#quthe books of deven verma could not be tallied.the accountant transferred the difference of Rs.1270 in the suspense account on the debit side the following mistakes were found la
Ethics on reconstruction of accounts, If a customer payment data was lost a...
If a customer payment data was lost and needed to be reconstructed what are some of the ethical considerations the business owner would need to consider? This may include internal
Regular bonds at the time of issuance, Flying High Inc. plans to raise $5,0...
Flying High Inc. plans to raise $5,000,000 external financing through issuing bonds, and is considering two options: regular bonds and zero couple bonds. The regular bonds will ha
Underlying assumptions or concepts of accounting, Q. Underlying assumptions...
Q. Underlying assumptions or concepts of accounting? The major underlying assumptions or concepts of accounting are (a) business entity (b) going concern (continuity) (c) money
A store receives $400 cash after offering a chain discount, A store receive...
A store receives $400 cash after offering a chain discount of 10/10/5 on a good. What was the list price? A. $492.20 B. $519.82 C. $533.33 D. $612.00
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.