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complete a worksheet without referring to chapter 2 by solving the data given on this page Required Complete the worksheet at December 31, 2020. Use
complete a worksheet without referring to chapter 2 by solving the data given on this page
Required Complete the worksheet at December 31, 2020. Use the unadjusted trial balance from Chapter 2 and the adjusting entries from Chapter 3 . If you have not completed them, you can still answer this question with the following information: At December 31 , the business gathers the following information for the adjusting entries: a. At December 31, the office supplies on hand totaled $165. b. Prepaid rent of one month has been used. (Hint: Total is for three months.) c. Determine the amortization on the building using straight-line amortization. Assume the useful life of the building is five years and the residual value is $5,000. (Hint: The building was purchased on December 1.) d. $400 of unearned revenue has now been earned. e. The employee who has been working the rental booth has earned $1,250 in salaries that will be paid January 15,2021. f. Canyon Canoe Company has earned $1,850 of canoe rental revenue that has not been recorded or received. g. Determine the amortization on the canoes purchased on November 3 using the straight-line m. Assume the useful life of the canoes is four years and the residual value is h. Determine the amortization on the canoes purchased on December 2 using the straight-line amortization method. Assume the useful life of the canoes is four years and the residual value is $0. i. Interest expense of $50 has accrued on the note payable Step by Step Solution
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