Activity Bookkeeping

Published on September 2022 | Categories: Documents | Downloads: 5 | Comments: 0 | Views: 92
of x
Download PDF   Embed   Report

Comments

Content

 

Activity: 1. On October 1,2014, T Co. received received a 5-mont 5-mont note from from a customer customer amounting amounting to 500,000, 10! interest. "ecord t#e ad$usting entry as of %ecember 2014.

2. On &e'tember 1, 2014, " Co. issued a (-mont# note to a su'')ier su'')ier amounting amounting to *00,000, 12! interest. A)so, t#ere +as an un'aid and unrecorded sa)aries at t#e end of t#e year dated %ecember *1, 2014 amounting to  25,000. ive t#e ad$usting entries.

*.  Co. 'urc#ased 'urc#ased a t+o year insurance 'o)icy on August 1, 2014 for  2,00. ive t#e ad$usting entries as of %ecember *1, 2014.

4. / Co. is engaged in constructing constructing and renting renting oce s'ace to various various businesses.. On &e'tember 1, 2014 one tenant gave 240,000 cas# for si businesses mont#s rent. ive t#e ad$usting entries as of %ecember *1,2014.

5. A Co. acuires acuires a bui)ding bui)ding on 3anuary 3anuary 1, 2014 2014 at a cost cost of 5,500,000. 5,500,000. T#e bui)ding #as an estimated usefu) )ife of 40 years and an estimated sa)vage va)ue of 500,000. "ecord t#e de'reciation for year 2014.

(. T#e com'any com'any estimates 5! of accounts receivab)e receivab)e +i)) be unco))ectib)e. unco))ectib)e. T#e T#e tota) credit sa)es for t#e year 2014 +ere 1,000,000, accounts receivab)e as of %ecember *1, 2014 +as  200,000 net of accounts +ritten o, and t#e a))o+ance for bad debts beginning ba)ance +as 10,000. T#e com'any a)so +rote of 5,000 accounts +#ic# +as deemed to be +ort#)ess and recovered *,000 of accounts 'revious)y +ritten o. "ecord t#e ad$usting entries

Sponsor Documents

Or use your account on DocShare.tips

Hide

Forgot your password?

Or register your new account on DocShare.tips

Hide

Lost your password? Please enter your email address. You will receive a link to create a new password.

Back to log-in

Close