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Equipment was purchased on January 1, 2016 for $18,000. It has a useful life of 5 years and salvage value of $3,000. Cooperative Company uses
Equipment was purchased on January 1, 2016 for $18,000. It has a useful life of 5 years and salvage value of $3,000. Cooperative Company uses the straight line method for depreciation calculation. Amount of the adjustment for depreciation: 3000 On October 1, 2017, Cooperative Company received $12,000 from a client for 4 months of service from October 1, 2017 through January 31, 2018. Amount of the adjustment for income earned: 1000 Cooperative Company signed a 2-year, $4.000 note payable on July 1, 2017 at 1096 interest. Amount of the adjustment for interest accrued 200 cooperative company pays employees every two weeks. The next payday is January 6, 2018. On December 31, 2017, employees have earned $2, 400 in wages. Amount of the adjustment for wages accrued
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