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Hay and Barnabas Company: Adjustments and Classifications
Essay specific features
Written by:
Leah H
Date added:
August 7, 2014
Level:
Grade:
A
No of pages / words:
3 / 574
Was viewed:
7332 times
Rating of current essay:
Essay content:
According to the information provided the equipment has a life span of 12 years. The depreciation is seventy thousand or 840,000/ 12. Adjustments to accumulated depreciation and depreciation expense are required. In this case the adjustment increases both accounts.
Accumulated Depreciation,
Equipment Depreciation expense
70,000 70,000
During the year interest has been accruing on the bonds payable...
displayed 300 characters
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In this case the adjustment increases both accounts.
Accumulated Depreciation,
Equipment Depreciation expense
70,000 70,000
During the year interest has been accruing on the bonds payable. The interest will affect accrued interest payable and interest expense. The 20,000 will increase both accounts...
displayed 300 characters
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