Question
a) b) c) d) e) f) g) h) The building (barn and office space) has an estimated useful life of 25 years. Record deprecation
a) b) c) d) e) f) g) h) The building (barn and office space) has an estimated useful life of 25 years. Record deprecation for one month. The equipment has an estimated useful life of 7 years. Record depreciation for one Record insurance expired for one month. Supplies on hand at the end of June have a cost of Sl ,305. Accrue employee wages for 5 days from Monday June 24 through Friday June 28 (payroll is $5,500 for the two week pay period totaling 10 days for a Monday Friday workweek). Accrue interest for June on the $234,000 Mountain High Bank note payable. The annual interest rate is 4%. As of the end of June, Sl ,365 of the services been performed for customers for which paynent had been received in advance on June ld. In June, entered into a contact with Barr & Associates, CPAs to provide gear transport services for the firm's professionals. Larrys Llama Livery will bill Barr& Associates in the following month for services provided. Services totaling $1, 100 were performed in June and Will be billed in Julv 2016. Income taxes to accrue for June are estimated to be $5,855.
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