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Need help with a worksheet! I will send more infor...

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Need help with a worksheet! I will send more information once accepted. Using the following information, you will record end of month adjustments: Office Furniture owned by the business: original purchase price was $7,000, estimated useful life was 5 years, and estimated residual value was $1,000 at the end of the useful life. Depreciation is calculated on a monthly basis using the straight line method. The monthly depreciation charge is calculated as the yearly depreciation expense divided by the number of months in a year. Office Equipment owned by the business: original purchase price was $48,000, estimated useful life was 10 years, and estimated residual value was $5,500 at the end of the useful life. Depreciation is calculated on a monthly basis using the straight line method. The monthly depreciation charge is calculated as the yearly depreciation expense divided by the number of months in a year. Electricity expense for the month of June is estimated to be $969. The water usage for the month of June is estimated to be $235. Sales staff work every single day during the week including weekends and are not paid until the end of each two weeks. Wages were last paid up to and including June 28. Wages incurred after that day (from June 29 to June 30 inclusive) are estimated to have been $720 per day. Interest expense incurred during the month of June but not yet paid to ZNZ Bank for the bank loan is $240. Interest earned from short-term investments in MRMC Bank for the month of June is $110. Office supplies totalling $2,483 are still on hand at June 30. 2 months of rent remained pre-paid at the start of June. 3 months of advertising remained pre-paid at the start of June. 5 months of insurance remained pre-paid at the start of June. When calculating the portion of prepayments that expire during the month of June, you are asked to assume that an equal amount of expense is incurred per month.,i have more information,"i have more information "

 

Paper#11329 | Written in 18-Jul-2015

Price : $25
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