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Question - Narrations are not required for the following entries: Barnes Ltd purchased equipment on 1 January 2013 for $80,000 and estimated an $8,000 salvage value at the end of the equipment's 10-year useful life. On 31 December 2019, there was $50,400 in the Accumulated depreciation account for this equipment using the straight-line method of depreciation. On March 31, 2020, the equipment was sold for $21,000. Barnes's fiscal year end is 31 December.
Required - Make the appropriate journal entries on March 31, 2020.
Prepare the end of the period closing entries for the Fitness Center - Prepare a post closing trial balance - Prepare a post closing trial balance.
1. It has been suggested that over 70 percent of all buying decisions are made in the store and as a result, point-of-purchase advertising has grown in its appeal.
How much is this promise worth today if the appropriate discount rate is 10%? How much is this promise worth today if the appropriate discount rate is 0%?
Prepare in general journal form all journal entries that should have been made during the fiscal year ended June 30, 2009 to record the above information in the capital projects fund (including closing entry).
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According to the Normal model N(0.024, 0.056) describing mutual fund returns in the 4th quarter of 2007 in Exercise 21, what percent of this group of funds would you expect to have return
Truck is being invested in the business, Truck is coming in as an asset, so it will be debited.But, Determine which account should be credited?
On January 1, 2017, Bonita Co. purchased 24,000 shares (a 10% interest) in Elton John Corp. for $1,300,000. At the time, the book value and the fair value.
Simple Comparison of Variable and Absorption Costing Kerwin Company began business on January 1, 20X1, with assets of $153,000 cash and equities of $153,000.
HI6026 Audit, Assurance and Compliance Assignment. Describe two business risks to MSL that Crampton and Hasaad will consider in planning the 2015 audit
If the person responsible for deducting the tax at source and paying the same to the credit of Central Government has not been allotted the Tax Deduction Account Number (TAN), he shall within ________ from the end of the month in which the tax was..
the appraisal department of mega-mortgage bank performs appraisals of business properties for loans being considered by
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