Question
(a) Date Complete Ledger accounts for the following unrelated transactions and show any reversals that are required on 1 July 2020. (a) Wages paid
(a) Date Complete Ledger accounts for the following unrelated transactions and show any reversals that are required on 1 July 2020. (a) Wages paid $8,400-Wages due but not yet paid $840. (b) Insurance paid $1,400 - Insurance paid in advance $200. (c) Accumulated Depreciation on plant was $900 at start of year; Depreciation expense is $300. (d) Accounts Receivable were $6,660 with Bad Debts to be written off $600 plus GST. (e) Allowance for Doubtful Debts is $200 and is to be adjusted to 3% of Accounts Receivable. Details Folio Wages (EXPENSE) Amount Date Details Accrued Expense (LIABILITY) Folio 700 Amount 240
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Income Tax Fundamentals 2013
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