Question
Record 11 months depreciation of $12,736 (5% declining balance)(300,000-22,125) X 5%X11/12=12736 Properly record the 2 transactions recording any related fees as Professional Fees. Note the
Record 11 months depreciation of $12,736 (5% declining balance)(300,000-22,125) X 5%X11/12=12736
Properly record the 2 transactions recording any related fees as Professional Fees. Note the lawyer paid out the mortgage payable (a small amount of interest was also occurred). The entire investment of $80,000.00 was disposed of.
STATEMENT OF ADJUSMENTS Cheque received from Purchasers Lawyer $1,103,300 Adjustments Principal & Interest to closing date $ 101,200 Legal Fees $2000 GST thereon $ 100 $ 2,100 Total Disbursements $ 103,300 Net Balance from Trust Balance -Cheque Attached $ 1,000,000.
how to put it in general journal?
additional info: investment cr-80000 mortgage dr-100000 land cr-100000 building cr-300000
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Internal Audit And Risk Management In Companies Assessing The Contribution Of Internal Audit To An Entitys Risk Management
Authors: Akaffou Arnaud Lucien Goley
1st Edition
6204604805, 978-6204604800
