ACCT 331


Question Description:

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ACCT 331 1 answer below ยป A company that has a fiscal year-end of December 31: (1) on October 1, $31,000 was paid for a one-year fire insurance policy; (2) on June 30 the company lent
its chief financial officer $29,000; principal and interest at 7% are due in one year; and (3) equipment costing $79,000 was purchased at the beginning of the
year for cash. Depreciation on the equipment is $15,800 per year. Prepare the necessary adjusting entries at December 31 for each of the above items. Dec 11 2013 03:48 AM

Answer

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