If you are alone in heavy expressway traffic at rush hour, use the _________ to avoid vehicles constantly entering and exiting i
1 answer:
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<u>The Unadjusted Balance of Trial Balance is $82,350.</u>
<u>The Net Income for January 2018 is $21,300.</u>
Further Explanation:
1. and 2.
Please refer to attached Table: (1) for T-accounts and their balances.
3.
For computation of Unadjusted Balance of Trial Balance, please refer to attached Table: (2)
The balance of unadjusted trial balance is $82,350.
4.
For computation of Net Income for January 2018, please refer to attached Table: (3)
The net income for January 2018 is $21,300.
Learn More:
1. Learn more about the goal of the budget
2. Learn more about the profit margins
3. Learn more about the large expenditure
Answer details:
Grade: Middle School
Subject: Accounting
Chapter: Journal Entry and Trial Balance
Keywords: T- Account transactions, net profit, net loss, journal entry, trial balance, ledger accounts, unadjusted balance, miscellaneous expenses, rent expense, blue print expense, salary expense, automobile expense, prepaid expenses, supplies, accounts receivable, accounts payable, equipment, notes payable, common stock, professional fee, cash account, other ledger accounts, debit balance credit balance.
Solution:
a. The first year depreciation = $3,160
The second year depreciation = $5,100
b. By considering 75% used for business purchase
For 2018 , for 7 months remaining
Depreciation = $3,160 x 75% (
= $1382.50
For 2019 ,
Depreciation = $5,100 x 75% = $3,825