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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?
matt schmidt company''s ledger shows the amount of
Q. Illustrate unearned service fees? Micro Train reports the service income in its income statement for 2010. The company enters the USD 3000 balance in the Unearned Service Fe
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Why to and by using in journal, trading a/c, p&l a/c and ledger?
Q. What do you eman by Expenditure? Expenditure -- an expenditure takes place when something is attained for a business -- an asset isbought, salaries are paid and so on. An ex
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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
Why is it more difficult to account for the inventory of a manufacturing firm than for that of a merchandising firm?
After adjustments and the closing of revenue and expense accounts at February 28, 2015, the end of the first full year of operations, the income summary account has a credit balanc
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