Question
3/11/2014 12/18/2014 1,166.67 12/19/2013 12/18/2014 5,800.00 5/29/2014 5/28/2015 7,600.00 12/26/2013 7/25/2014 500.00 7/26/2014 7/25/2015 750.00 1/1/2014 12/31/2014 4,200.00 3/6/2014 3/6/2015 4,670.00 3/6/2013 3/6/2014 4,670.00 The
| 3/11/2014 | 12/18/2014 | 1,166.67 | |
| 12/19/2013 | 12/18/2014 | 5,800.00 | |
| 5/29/2014 | 5/28/2015 | 7,600.00 | |
| 12/26/2013 | 7/25/2014 | 500.00 | |
| 7/26/2014 | 7/25/2015 | 750.00 | |
| 1/1/2014 | 12/31/2014 | 4,200.00 | |
| 3/6/2014 | 3/6/2015 | 4,670.00 | |
| 3/6/2013 | 3/6/2014 | 4,670.00 |
The above information contains the terms and invoice amounts for several prepaid expenses. Calculate the monthly amortization for each (include equations) and determine the balances for each as of 12/31/2014. Use quarter of a month depreciation.
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Advanced Financial Accounting
Authors: Richard Lewis, David Pendrill
6th Edition
0273638335, 978-0273638339
