Khot Chemical is a pharmaceutical manufacturing company. They make an antibiotic called Kanacillin.

A new computer system for accounting will be purchased November 1, 2022 for $5,000. This machine has a useful life of the number of years that is the last digit of your student number (if your last digit is 0, then the useful life is 10 years) with no salvage value. Khot Chemicals will depreciate this asset the same way as all its other PPE which is straight line.

The owner of Khot Chemical has a short term need for some cash in October, and so will be withdrawing $70,000 cash. This will not affect their ability to invest cash if needed at any time.

The following is the trial balance of Khot Chemical at September 30, 2022:

Khot Chemical is a pharmaceutical manufacturing company. They make an antibiotic called Kanacillin.

A new computer system for accounting will be purchased November 1, 2022 for $5,000. This machine has a useful life of the number of years that is the last digit of your student number (if your last digit is 0, then the useful life is 10 years) with no salvage value. Khot Chemicals will depreciate this asset the same way as all its other PPE which is straight line.

The owner of Khot Chemical has a short term need for some cash in October, and so will be withdrawing $70,000 cash. This will not affect their ability to invest cash if needed at any time.

The following is the trial balance of Khot Chemical at September 30, 2022: