Bookkeeper Knowledge Testing 1 - There are errors on the balance sheet and income statement. Please identify
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Question:
Bookkeeper Knowledge Testing
There are errors on the balance sheet and income statement. Please identify these errors and describe the correction to be made.
The company has sold a vehicle in the current period for $ it is the only vehicle on the balance sheet. Please calculate the gain or loss on the sale of the asset.
Please calculate the amortization for the first month of this fiscal year with the following changes made to the table:
Office Furniture additions of $
Computer Disposal of $
Dividends were declared at the end of last year for $ what is the entry required to clear this from the balance sheet in the current year?
A previously written off customer has made payment on his account for $ how do we record this transaction?
Please calculate the WSIB remittance for the January to March XX period using the provided payroll summary for the company WSIB Rate is Note that John Doe is the shareholder of the company. What is the entry to be posted into the books to record this transaction?
The company is hiring a new employee, please review the items provided by management and provide feedback on whats required to finish the employee profile.
The shareholder has provided us with his vehicle expenses for the quarter. The totals are: fuel $
maintenance $ insurance $
mileage of kms business use
CRA allowance for mileage is for the first kms then for the rest. What is the entry to be posted to record this transaction?
The shareholder has decided to change his payroll to a salary, his earnings will be $ gross per period with CPP EI taxcompany matched benefits deducted per period. What is the entry to be recorded?
The shareholder has been working from home for the past months and would like to expense his home office thru the business of home used for the office See the worksheet and provide the entry to be recorded.
Related Book For
Accounting Principles
ISBN: 978-1119048473
7th Canadian Edition Volume 2
Authors: Jerry J. Weygandt, Donald E. Kieso, Paul D. Kimmel, Barbara Trenholm, Valerie Warren, Lori Novak
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