Given the following expenses electricity $6,500, Water $1,700, salaries $180,000, and audit $5,000 during the year ended 2018. The audit for the past 2 years has been the same amounting to $5,000, The electricity paid in 2018 was not included in 2018 and was paid in January 2019 and a portion of it paid in March $500. Water expenses paid in January 2019 were included in December 2018 which amounted to $300, and during the Christmas holidays, employees requested advance against their salary to receive half of their January 2019 salary in December amounted to $ 1500.

Given the following expenses electricity $6,500, Water $1,700, salaries $180,000, and audit $5,000 during the year ended 2018. The audit for the past 2 years has been the same amounting to $5,000, The electricity paid in 2018 was not included in 2018 and was paid in January 2019 and a portion of it paid in March $500. Water expenses paid in January 2019 were included in December 2018 which amounted to $300, and during the Christmas holidays, employees requested advance against their salary to receive half of their January 2019 salary in December amounted to $ 1500.

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

Chapter12: Intangibles

Section: Chapter Questions

Problem 11P

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