13)
1)insurance per month=24000/24=1000
insurance expense(db)1000*12=12000
prepaid insurance(Cr)12000
2)depreciaiton=(price-salvage)/years
=(8000-0)/5=1600
depreciation equipment(db)1600
accumulated depreciation-equipment(cr)1600
3)salary=100*8=800
payrol tax=10%*800-80
salary expense(db)800
payroll tax expnese(db)80
salaray payable(cr)800
payroll tax payable(Cr)80
4)allowance=0.75%*1000000=7500
bad debt expense(db)300
allowance for doutbful accounts(cr)300
already we have balance of 1500 credit and 300 extra and we need
total to be 7500
remaining=7500-1500-300=5700
bad debt expense(db)5700
allowance for doutbful accounts(cr)5700
5)Electricity expense(db)320
electricity payable(cr)320
Problem13 40 Chapter 1 5. The electric bill for the period of December 15, 20X5, through...
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