Professional Documents
Culture Documents
Adjusting
Adjusting
D. The Furnitures and Fixtures has an annual depreciation of 3% starting June 1,2010.
Depreciation Expense - F&F
Accumulated Depreciation - F&F
16,300 x .03 = 489/12 = 40.75 x 8 = 326
E. The eq. has estimated useful life of 10 years w/ a scrap value of 4,000 purchased June 1,2010
Depreciation Expense - Equipment
Accumulated Depreciation - Equipment
141000 – 4000/10 = 13,700
F. Accounts Payable has interest rate of 25% per month due December 21,2010
Interest Expense
Interest Payable
1,125 x .25 = 281.25/360 = 0.78 x 10 = 7.8