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Oriole Ridge Plumbing's year end is October 31. The company's trial balance prior to adjustments follows: Additional information: 1. The equipment has an expected useful
Oriole Ridge Plumbing's year end is October 31. The company's trial balance prior to adjustments follows: Additional information: 1. The equipment has an expected useful life of 10 years. The vehicles' expected useful life is eight years. 2. A physical count showed $2,100 of supplies on hand at October 31,2024. 3. Accrued salaries payable at October 31, 2024, were $2,700. 4. Interest on the 5% note payable is payable at the end of each month and $10,800 of the principal must be paid on December 31 each year. Interest payments are up to date as at September 30, 2024. 5. The owner, H. Brown, invested $2,100 cash in the business on December 28,2023 . (Note: This has been correctly recorded.) 1
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