How much is depreciation expense as of dec

Reference no: EM132808480

Problem 1: A business pays weekly payroll of 120,000 on Friday, for a 5-day work and Dec. 31 falls on a Wednesday. How much is accrued salaries payable?

Problem 2: Furniture costing 320,000 was acquired on April 1 of the current year. It has an estimated residual value of 20,000 at the end of its useful life of 5 years. How much is depreciation expense as of Dec. 31?

Use for 3 to 5

Problem 3: On Sept. 1, 2019, Boss Co. bought a brand new computer costing 125,000. It has an estimated life of 5 years and a scrap value of 5,000 at the end of its life. The accounting period ends in Dec. 31. How much is the depreciation of the computer for 2019?

Problem 4: How much depreciation expense should be recorded at Dec. 31, 2020?

Problem 5: How much is the book value of the computer as of Dec. 31, 2020?

Reference no: EM132808480

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