Cash $ 6,754
Accounts receivable
$ 13,718
Office supplies
Land $ 37,153
Office equipment
560
Accounts payable
$ 280
Common stock
Dividends
$ 13,733
$ 2,000
Consulting fees earned
$ 2,625
Rent expense $ 3,673
Salaries expense
$ 6,642
$ 14,535
Telephone expense
$
$ 6,463 Miscellaneous expense
$ 54,490 Retained Earnings
Question 17. Question :
statements is incorrect?
?
Which of the following
An income statement reports revenues
earned less expenses incurred
An unadjusted trial balance shows the
account balances after they have been revised to reflect the
effects of end-of-period adjustments
Interim financial reports can be based on
one-month or three-month accounting periods
Property, plant and equipment are
referred to as plant assets
Question 18. Question :
On January 1, Able Company
purchased equipment costing $135,000 with an estimated
salvage value of $10,500, and an estimated useful life of five
years. What is the amount that should be recorded as
depreciation on December 31?