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Sveta_85 [38]
3 years ago
11

Waddell Company had the following balances in its accounting records as of December 31, 2015:

Business
1 answer:
Lilit [14]3 years ago
8 0

a. The amount of land on the balance sheet will be $36,000 which is historical cost of the land. Land is not subject to depreciation so it is recorded at historical cost and not carrying value.

b. The amount of rent expense reported on Income statement will be $5,500 [ $ 6,000 * 11 /12 months ]

c. The total amount of liabilities reported on the balance sheet will be $43,800. This includes the contingent liabilities and warranties.

Learn more at brainly.com/question/24540829

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