You have 14Damenih your Wiley Plus tree trial Ausprosent are to Gradebook Your prate is being recorded Prey Question 4 Current Attempt in Progress Les Compara proprietorshi had the following selected business transactions during the year In each situation identify whether the counting treatment is correct, incorrect or partially correct 1. Land with a cost of $415.000 was recorded at its fair value of $485.000 2 Alease agreement to rentiment from an einen solier starting next year was signed. The rest is $500 per month and the lease is for two years. Payments are due at the start of each month. Nothing was recorded in James Company's accounting records when the case was signed 2 lamespaid the rent for an apartment for the owner's personal use and charged it to Rent Expense 4. James prepaid for a one-year insurance policy for $1.200. The amount was charged to insurance Expense. 5. James included a note in its financial statements stating the company is going concern & James included a note in its financial statements stating the company is following ASPE e Textbook and Media Save for later You have 14Damenih your Wiley Plus tree trial Ausprosent are to Gradebook Your prate is being recorded Prey Question 4 Current Attempt in Progress Les Compara proprietorshi had the following selected business transactions during the year In each situation identify whether the counting treatment is correct, incorrect or partially correct 1. Land with a cost of $415.000 was recorded at its fair value of $485.000 2 Alease agreement to rentiment from an einen solier starting next year was signed. The rest is $500 per month and the lease is for two years. Payments are due at the start of each month. Nothing was recorded in James Company's accounting records when the case was signed 2 lamespaid the rent for an apartment for the owner's personal use and charged it to Rent Expense 4. James prepaid for a one-year insurance policy for $1.200. The amount was charged to insurance Expense. 5. James included a note in its financial statements stating the company is going concern & James included a note in its financial statements stating the company is following ASPE e Textbook and Media Save for later