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Problem 1: On Friday of each week. Cobalt Ltd pays its factory personnel weekly wages amounting to $2,500 for a five-day working week. During January, pay day falls on Friday 28th. For the month end accounts for January, the amount to be accrued for wages would be:
Select one:
a. $500b. $1,000c. $1,500d. $2,000e. $2,500
Raine Company has a machine that originally cost $55,000. Depreciation has been recorded for four years using the straight-line method. with a $5,000 estimated salvage value at the end of an expected ten-year life. After recording depreciation at the..
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Slocombe Company sold $5,400,000, 9%, 15-year bonds on January 1, 2014. The bonds were dated January 1, 2014, and pay interest on December 31. The bonds were sold at 98. (a) Prepare the journal entry to record the issuance of the bonds on January 1, ..
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