本文发表在 rolia.net 枫下论坛The unadjusted trial balance of ABC Company at its year end, July 31, 2008, is as follows:
ABC Company
Trial Balance
July 31, 2008
Debit Credit
Equipment 25,000
Accumulated amortization – Equipment 12,200
Accounts payable 81,000
Mortgage payable (due August 1, 2026) 121,190
Interest expense 11,180
Adjustment Data:
1. Amortization is calculated on the long-lived assets using the following methods and useful lives:
**Equipment: double declining – balance, five years, $2,000 residual value.**
2. The 8% mortgage payable was issued on August 1, 2001. Interest is paid monthly at the beginning of each month for the previous month’s interest. Of the mortgage principal, $1,680 is currently due.
Instructions
Prepare the adjusting journal entries required at July 31.更多精彩文章及讨论，请光临枫下论坛 rolia.net
ABC Company
Trial Balance
July 31, 2008
Debit Credit
Equipment 25,000
Accumulated amortization – Equipment 12,200
Accounts payable 81,000
Mortgage payable (due August 1, 2026) 121,190
Interest expense 11,180
Adjustment Data:
1. Amortization is calculated on the long-lived assets using the following methods and useful lives:
**Equipment: double declining – balance, five years, $2,000 residual value.**
2. The 8% mortgage payable was issued on August 1, 2001. Interest is paid monthly at the beginning of each month for the previous month’s interest. Of the mortgage principal, $1,680 is currently due.
Instructions
Prepare the adjusting journal entries required at July 31.更多精彩文章及讨论，请光临枫下论坛 rolia.net