ACC423 week five team A p22-3

ACC423 week five team A p22-3 - (to record depreciation...

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1 Retained earnings $4,000.00 Sales commision payable Sales commision expense 2 Cost of goods sold $27,700.00 Retained earnings Inventory 3 Book value ($100,000 - $36,000) $64,000.00 Depreciation exp - straight line method (8 years) $8,000.00 Depreciation exp - double declining method $12,800.00 Accumulated depreciation- equipment $4,800.00 Depreciation expense
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Unformatted text preview: (to record depreciation expense) 4 Income tax rate Defered tax liability= ($150,000-$95,000) x 40% $55,000.00 Construction in process $55,000.00 Deferred tax liability Retained earnings (to record tax liability and retained earning) $2,500.00 $1,500.00 $21,000.00 $6,700.00 $4,800.00 40% $22,000.00 $22,000.00 $33,000.00...
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ACC423 week five team A p22-3 - (to record depreciation...

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