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galben [10]
3 years ago
15

The bookkeeper for Sheffield Corp. asks you to prepare the following accrued adjusting entries at December 31.

Business
1 answer:
Scrat [10]3 years ago
4 0

Answer:

(a) Dec 31

Debit Interest Expense $500

Credit Interest Payable$500

(b) Dec 31

Debit Account Receivable $2,000

Credit Service Revenue $2,000

(c) Dec 31

Debit Salaries & wages expense $540

Credit Salaries & wages payable $540

Explanation:

Preparation of the accrued adjusting entries at December 31

(a) Dec 31

Debit Interest Expense $500

Credit Interest Payable$500

(b) Dec 31

Debit Account Receivable $2,000

Credit Service Revenue $2,000

(c) Dec 31

Debit Salaries & wages expense $540

Credit Salaries & wages payable $540

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<u>Solution and Explanation:</u>

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Particulars  Year  Amount ($)

Cash outflow  0  -40000

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<u>Answer:3</u> IRR=17%

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Cash outflow  0  -40000

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using IRR function in excel.

5 0
3 years ago
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5 0
1 year ago
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<h3>The male students</h3>

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P(A or B)

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= 0.45 + 0.60

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