Business Administration 2257 Study Guide - Midterm Guide: No Entry, Income Statement, Treaty Of Fort Stanwix

• School: Western University
• Department: Business Administration
• Course: Business Administration 2257
• Professor: Jessica Bond

Document Summary

> half month payment = skip over, ignore. Top t-account = i. s/ top = b. s. Dep ex = stays same, fy, a/d = running tally. Not given income tax % look @ last income. [no ul given, use a/d divide by # years since bought] *always pay off full c. p from last year* Step 2: after c. p paid, have to transfer new. Dr. lt. p (same as before, principle) cr c. p. (cid:3041)(cid:2869)(cid:2870) =a/d (cid:3009)(cid:3004) (cid:3019)(cid:3023)(cid:3022)(cid:3013) (cid:3021)(cid:3042)(cid:3047)(cid:3039) (cid:3022)(cid:3041)(cid:3047)(cid:3046) (cid:1847)(cid:1866)(cid:1872)(cid:1871) (cid:1847)(cid:1871)(cid:1857)(cid:1856) =a/d (cid:3009)(cid:3004) (cid:3019)(cid:3023) [4 last year of the asset"s ul: dep =bv- rv] [pay wages payable first (bs) dr wp cr wx] [using dl as proxy] prm= 8963 pdl= 2202 (total $ for hours worked in production ) pfoh= (cid:3021)(cid:3042)(cid:3047)(cid:2869)(cid:2869)4(cid:2870)(cid:2869)6(cid:3039) (cid:3017)(cid:3045)(cid:3042)(cid:3051)(cid:3052) (cid:887)(cid:882),3(cid:890)(cid:888)=(cid:889)(cid:883) (cid:2870)(cid:2870)(cid:2868)(cid:2870) E/b = 8963 + 2202 + 971 = 12137. Finance leases are treated as an asset with a matching liability account (lease obligation) [interest rates given/ annual payments] Find fair (present) value of lease (fyb also)