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What is the amount of accumulated depreciation

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Q1) On November 13, Frankfurt Staffing Co. internally develops a customer list by paying for related expenditures of $21,000 for consulting, $7,000 for market research, and $33,000 for personnel salaries. Record the journal entry for the costs.

Q2) Kinnison Malls pays $46,100 for a parking lot to be installed on May 31, 20X1. The asset is considered to be a "land improvement" that has a $1,000 salvage value and a 5-year estimated life. The company will use the double-declining-balance method for depreciation. What is the amount of accumulated depreciation after the 20X2 adjustment? Please round all amounts to the nearest dollar and any rates to the nearest penny.

Q3) List price does not include the required 6% sales tax. Record this transaction into a journal entry (ignore any cost of goods sold entries). You may round amounts to the nearest dollar.

Reference no: EM132795940

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