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The following transactions occurred during December.Dec . 2 Purchased equipment for $ 2 0 , 4 8 0 , plus sales taxes of $ 1
The following transactions occurred during December.DecPurchased equipment for $ plus sales taxes of $paid in cash Grouper sold for $ equipment which originally cost $ Accumulated depreciation on this equipment at January was $; depreciation prior to the sale of equipment was $ Grouper sold for $ on account inventory that cost $Grouper records sales under a perpetual inventory system. Salaries and wages of $ were paid.Adjustment data: Grouper estimates that uncollectible accounts receivable at yearend are $The note receivable is a oneyear, note dated April No interest has been recorded The balance in prepaid insurance represents payment of a $month premium on September The building is being depreciated using the straightline method over years. The salvage value is $ The equipment owned prior to this year is being depreciated using the straightline method over years. The salvage value is of cost The equipment purchased on December is being depreciated using the straightline method over years, with a salvage value of $ The patent was acquired on January and has a useful life of years from that date.Unpaid salaries at December total $ Both the shortterm and longterm notes payable are dated January and carry a interest rate. All interest is payable in the next monthsIncome tax expense was $ It was unpaid at December
Prepare a december balance sheet.
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