Course Hero Logo

U4A6 - Template V4.xlsx - Instructions Using the...

Course Hero uses AI to attempt to automatically extract content from documents to surface to you and others so you can study better, e.g., in search results, to enrich docs, and more. This preview shows page 1 - 2 out of 6 pages.

5d8344027688a7e1cf4c8cdaa2c4caa2e27519c4.xlsx11/20/2022J. BoultonThe following information is for the company ofD. Virk, Chartered Accountantsfor the YEAR ending December 31, 202_Pre-adjusted balances at start of the YEAR1Office Equipment30,100.00Accumulated Amortization at start of period15,000.00Salvage Value100.00Useful Life6 yearsAdjust for whole year2Automobile14,200.00Accumulated Amortization at start of period9,546.94Rate:20%Adjust for whole year3Building147,100.00Accumulated Amortization at start of period8,650.66Rate:2%Adjust for whole yearOther Information4Insurance Policy Value remaining at start of period:12,900.00Time remaining in the policy at start of period40 monthsAdjust for 1 month (December) only50.8% of balance owingTotal value of loans and mortgages on the 1st of the month is:64,500.00Adjust for 1 month (December) only6Supplies on hand at month end were:6,000.00Supplies on hand on the 1st of the month were:7,000.00No supplies were purchased during the monthAdjust for 1 month (December) only711,900.008244.00Interest was deducted directly from the bank account. The monthlyrate of interest for all debt (assume it is on total of loans andmortgages only) is:Month end was exactly one quarter of the way through a pay

Upload your study docs or become a

Course Hero member to access this document

Upload your study docs or become a

Course Hero member to access this document

End of preview. Want to read all 6 pages?

Upload your study docs or become a

Course Hero member to access this document

Term
Fall
Professor
MR.A
Tags
Balance Sheet, Generally Accepted Accounting Principles, D Virk

Newly uploaded documents

Show More

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture