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Q. Example of Accumulated Depreciation account?
Along with other items the trial balance of Korman Company for 2010 December 31 includes the following account balances
A few of the supplies represented by the USD 6000 balance of the Supplies on Hand accounts have been consumed. An inventory calculates of the supplies actually on hand at December 31 totalled USD 2400.
On May 1 of the present year a rental payment of USD 25200 was made for 12 months' rent it was debited to Prepaid Rent.
The annual depreciation for the buildings is place on the cost shown in the Buildings account less an estimated residual value of USD 10000. The estimated helpful lives of the buildings are 40 years each. The salaries expense of USD 124000 doesn't include USD 6000 of unpaid salaries earned since the last payday. The company has make one-fourth of the unearned delivery fees by December 31. Delivery services of USD 600 were carrying out for a customer but a bill has not yet been sent.
a. Organize the adjusting journal entries for December 31 assuming adjusting entries are prepared only at year-end.
b. Based on the adjusted balance exposed in the Accumulated Depreciation Buildings account how many years has Korman Company owned the building?
Employees : The view of business organizations exist to maximize the go back to shareholders has been undergoing modify as an outcome of social changes. A broader view is consider
You should have recorded in your cash books all amounts you've really received and payments you've really made. Though the cash books may be incomplete as your bank may have put ex
AP2-2
Distributions to owners are reducing in equity of a particular business enterprise resulting from transferring rendering services, assets or incurring liabilities by the enterprise
Compute each of the following amounts Company reported current assets of $80,000, non-current assets of $350,000, current liabilites of $32,000 and long term liabilities of $120,00
Explain about the RECORDING PURCHASES Source document for recording a purchase of merchandise is purchase invoice. o An instance of a transaction of purchasing merchandise
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White Lightning Inc. report income from continuing operation before income taxes of $626,000 for the year ended 12/31/2004. During October of 2004, White Lightning elected to phase
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