Week 2 Ex and Problems

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23.08.2019-575 views -Week 2 Ex and Concerns

 Week 2 Ex and Problems Composition

Wiley Additionally Wk a couple of Ex & Prob

ACC/291

August 6th, 2012

Wiley Plus Wk. 2 Ex & Prob

E8 – 3

Date| Account Titles and Explanation| Debit| Credit

31 – Dec. | Bad Debts Price Accounts receivable-Fell| 1, 400| 1, 400| | | |

31 – Dec. | Bad Debts Price (840, 000 – 30000)*1% Allowance to get Doubtful accounts| 8, 100| 8, 100| | | |

31 – Dec. | Bad Debts Expenditure Allowance pertaining to Doubtful Accounts (120, 000*10%)-2100| 9, 900| 9, 900| | | |

31 – Dec. | Bad Debts Charge (840, 000 – 40, 000*. 75%) Allowance intended for Doubtful Accounts| 6, 075| 6, 075| | | |

31 – Dec. | Bad Debts Expense Allowance to get Doubtful Accounts (120, 000*6%)+200| 7, 400| 7, 500

BE9 – 13

Italy CompanyPartial Equilibrium Sheet31–Dec-11

Home, plant, equipment| | |

Coal mine| five-hundred, 000| |

Much less: Accumulated depletion| 108, 000| 392, 000|

Buildings| 1, 95, 000| |

Significantly less: Accumulated depreciation| 650, 000| 450, 000|

Total property, herb, and equipment| | | 842, 000| Intangible assets| | |

Goodwill| | | 410, 500

Do It 9-4

Intangible| Rights, benefits, and competitive advantages that result from the ownership of long-lived property that do certainly not possess physical substance. | Amortization| The allocation off the cost of an intangible asset to expense within a rational and systematic method. | Franchise| A right to sell certain goods and services, or make use of certain logos or operate names in a designated geographic area. | Research and development costs| Cost received by a firm that often generated patents or perhaps new product. These types of costs should be expensed since incurred. | |

Goodwill| The extra of the cost of the company over the fair market value of the net assets attained.

E9 – 9

Date| Account Games and Explanation| Debit| Credit

1-Jan| Accumulated Depreciation-Ma| 62, 000|

| Machinery| | sixty two, 000

| | |

30–Jun| Depreciation...

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