Please no written by hand solutions Prepare journal entries to record the following transactions. You are required to show all calculations: 3.1 The company adopted the straight-line depreciation method. Record the 15% depreciation on the plant and equipment purchased On 1 December 2020 for R125 000. 3.2 The allowance for credit losses account has an opening balance of R4 500. The policy requires the allowance to equate 8% of the total accounts receivable. The debtors sub-ledger totaled R52 000 prior receiving 40c in the rand on an account of R3 000. The financial manager instructed the write off on the balance. Entry General Ledger Debit Credit.
Please no written by hand solutions Prepare journal entries to record the following transactions. You are required to show all calculations: 3.1 The company adopted the straight-line depreciation method. Record the 15% depreciation on the plant and equipment purchased On 1 December 2020 for R125 000. 3.2 The allowance for credit losses account has an opening balance of R4 500. The policy requires the allowance to equate 8% of the total accounts receivable. The debtors sub-ledger totaled R52 000 prior receiving 40c in the rand on an account of R3 000. The financial manager instructed the write off on the balance. Entry General Ledger Debit Credit.
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter3: Review Of A Company's Accounting System
Section: Chapter Questions
Problem 11P: Worksheet Devlin Company has prepared the following partially completed worksheet for the year ended...
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Please no written by hand solutions
Prepare
calculations:
3.1 The company adopted the
the plant and equipment purchased On 1 December 2020 for R125 000.
3.2 The allowance for credit losses account has an opening balance of R4 500. The policy
requires the allowance to equate 8% of the total accounts receivable. The debtors sub-ledger
totaled R52 000 prior receiving 40c in the rand on an account of R3 000. The
manager instructed the write off on the balance.
Entry General Ledger Debit Credit.
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