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Problems 9 - 5 Frances's Fine Fluffs, Inc. Year 4 - 2 0 X 4 , Paid the beginning accounts payable and received all owed.
Problems Frances's Fine Fluffs, Inc. Year X
Paid the beginning accounts payable and received all owed. Bought Fluffs, sold Bought for $ each, sold for $ Bought for down and the other to be paid next year. Sold for down with to be paid next year. Paid workers what was owed them at the beginning plus $ per month for eleven months, owed wages of $ at the end of the year for December. Paid $ for utilities. On January FFF bought a prefabricated building to put on the land previously invested in the year The building costs $ It is expected that the building will last ten years and then be worth about of the original cost. To buy the building, FFF took out a $ interestonly mortgage from the bank and used $ of the company's money. FFF must pay the bank interest at the end of each year on the building's mortgage. The $ will be due years from the date of purchase. FFF paid the interest on the building's mortgage for Year on December On January X FFF spent $ on furniture and fixtures for the new building. It is estimated that these items will last years and then be worth of their value. FFF opened a new location on January She now operates in two locations. FFF paid months' rent on the first location at $ per month. FFF paid Uncle Phil the interest owed on December FFF paid $ for another oneyear insurance policy on October st Also, do not forget the depreciation on the sign. FFF paid last year's taxes. FFF paid a dividend of $ FFF owes taxes at the end of the year same rate as last yearPrepare Financials, which also includes Journal Entries & TAccounts
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