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PROBLEM #1
Part A)
Cash Balance per Bank 40,056.40 Cash Balance per Company 26,807.40
Add: Add:
Deposit in Transit 2,573.80 Collection of N/R 4,000.00
Bank Error 80.00 Collection of Interest 200.00
Collection of A/R - Boxcar 6,100.00
Deduct: Deduct:
Outstanding Checks 5,919.60 Bank Service Charge 20.00
Bank Service Charge 106.80
Error - A/P-Emerald 90.00
NSF A/R-GoriX 100.00
Adj. Cash Balance per Bank 36,790.60 Adj. Cash Balance per Company 36,790.60
Part B)
Actual
B) Units of Production (Activity) Copies X Rate = Year Dep. Exp. A/D Book Value
40,000 X .10 1 4,000 4,000 16,000
Cost - Salvage = Deprec. Exp. Per Unit 35,000 X .10 2 3,500 7,500 12,500
# units Of life 55,000 X .10 3 5,500 13,000 7,000
30,000 X .10 4 3,000 16,000 4,000
$18,000 = .10/copy 20,000 X .10 5 2,000 18,000 2,000
180,000 copies
C) 200% Declining BalanceCost - a/d = Bk. Value X Rate = Year Dep. Exp. A/D Book Value
20,000 - 0 = 20,000 X 40% = 1 8,000 8,000 12,000
Rate = 200% = 40%/yr. 20,000 - 7200 = 12,000 X 40% = 2 4,800 12,800 7,200
5 yr. Life 20,000 -12320= 7,200 X 40% = 3 2,880 15,680 4,320
20,000 -15392= 4,320 X 40% = 4 1,728 17,408 2,592
20,000 -17235= 2,592 X 40% = 5 592 18,000 2,000
PROBLEM #4
Cost - Salvage = Deprec. Exp. Per year 12,000 = 2,400 per year
Yrs. Of Life 5
Part B) Part C)
Date Accounts / Explanation Debit Credit Date Accounts / Explanation Debit Credit
12/7 Sales Salaries Expense 1,156.00 12/7 Payroll Tax Expense 196.21
Office Salaries Expense 966.00 FICA Payable 93.37
FICA Payable 93.37 Medicare Payable 30.77
Medicare Payable 30.77 SUI Payable 63.27 (4.5% X 1406)
FWT Payable 208.00 FUI Payable 8.80 (.8% X 1100)
SWT Payable 68.00
Healthe Ins. Payable 16.00
Contributions Payable 20.00
Salaries Payable 1,685.86