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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?
XYZ Solutions Pvt Ltd purchased a new vehicle for their employee Sonia to use for both work and private purposes on 1 November 2010. The car cost $38,500 and they paid an extra $2
A company absorbs overheads on machine hours that are budgeted at 11,250. The budgeted overhead is $281 250. Results illustrate actual hours of 10 980 and overhead of $276 652.
Ryan's Express has total credit sales for the year of $178,000 and estimates that 3% of its credit sales will be uncollectible. Record the end-of-period adjusting entry on Decemb
For my accounting class, how would I journalize the adjusting entry for Annual depreciation is $3,480 on the building with the building amounting to $76,000 on the trial balance fo
Q. Determine the cost of ending inventory? The company suppose that the 20 units in inventory consist of 10 units purchased December 21 and 10 units purchased October 12. The o
Suppose you want to have $5,000 saved at the end of five years. The bank will pay 2% interest on your money. How much would you have to deposit today to have the $5,000 you want
Q. Define Operating expenses? Operating expenses for a merchandising company are those expenses other than cost of goods sold incurred in the usual business functions of a comp
Q. Describe about accounting. Why is it called language of business? Accounting is known as -an art of recording, classifying and summarizing transactions and events in a si
Q. Example of Income statement of a merchandising firm? To recapitulate the more important relationships in the income statement of a merchandising firm in equation form -
Different Methods Of depreciation Diminishing Value Method Straight Line Method Annuity Method Depletion Method Written Down value Method
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