Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Need help with adjusting entries for general journal on parts, (h), (i) and (k). Im not sure if this is enough information for in more

Need help with adjusting entries for general journal on parts, (h), (i) and (k).
Im not sure if this is enough information for in more info is needed! image text in transcribed
h. The interest accrued to 12/31/18 on notes receivable is composed of the following Platteville Plumbers. 8%, G months, due March 31, 2019 Bilder Construction, 10%, 6 months, due June 17, 2019 Beverly's Building, 9%, 6 months, due June 26, 2019 900 211 17 $1.128 nterest accrued at 12/31/18 on the note payable of $15,000 (a 11.6% is S1.740. Interest is pavable on January 2.2013 i. A warehouse lease payment of s10.500 was made on September 1, 2018, for rental through on the warehouse.) February 28, 2019. (The Prepaid Rent account is for advance lease payments j. $590 is owed to Northern Electric Co. and $270 is owed to City of Rockford for utility services provided during December 2018 k. Plant and equipment to be depreciated are composed of the following Depreciation Method Salvage Usage or Life Assets ired Cost $20.000 u-of-the-year 3.100 iles driven 4.200 miles driven s'digts Building Truck No. 1 Truck No. 2 Lift No. 1 Sold 12/31/18) Laft No. 2 Lift No. 3 Office $306,000 28.000 3.000 7.900 25 years 61),000 miles 60,000 miles 10 years 900 sraight-line 29 15 1G 1G All prior to 4.500 5.000 32.800 10 years 10 years 500 sraight-line 500 straight-line years 2.000 raight-line Equipment Computer 5 years 1.300 Double-decling balance 12/22/18 Truck No. 1 has been driven 45.000 miles prior to 1/1/18 and truck No. 2 has been dri en 30,500 miles prior to 1/1/18. During 2018 truck No. 1 was driven 15,000 miles and truck No. 2 was driven 12,000 miles. Remember that the Rockford Company takes a half year's depreciation in the year of acquisition and a half-year in the year of sale

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Auditing Principles Practice And Problems

Authors: Jagdish Prakash

1st Edition

9327244745, 978-9327244748

More Books

Students also viewed these Accounting questions