counting course at BCIT. and thereforeknow you would be up to The vehicle was purchased on March 23, 2012 at a cost of SSO,000. Russell expects the company to use the vehicle for 5 years at which time the scrap vale s e $5.000. Only for 9 months - coucu cate amo zon 1 b. The land was purchased on April 1, 2012 Russell expects the company to own the property for 20 years c An inventory count indicated $61,000 of inventory at December 31, 2012. d. Star Electronics recently signed an agreement with BCIT to supply them with audio Visual equipment. The contract is worth $200,000 and the equipment will be supplied in April of 2013. During December 2012, Star Electronics recorded the receipt of a $50,000 cheque from BCIT in respect of this contract e. The $3,000 annual insurance policy was paid and commenced coverage on May 1, 2012. f. On June 1, 2012 Star Electronics lent a long-time employee $15,000. The employee signed a promissory note agreeing to repay the amount on January 1, 2014 The annual interest of $1,500 is to be received every May 31% 9. A letter from the landlord indicated that the $3,000 rent for December 2012 was still outstanding. Required: 1) Complete the attached worksheet. To save time, the adjusted trial balance columns have been omitted. Do not add the adjusted trial balance columns as the problem ca be completed without this information. You do not have to write out the journal entri separately but you must reference each adjustment or comection on the attached worksheet (20 marks) 2018 counting course at BCIT. and thereforeknow you would be up to The vehicle was purchased on March 23, 2012 at a cost of SSO,000. Russell expects the company to use the vehicle for 5 years at which time the scrap vale s e $5.000. Only for 9 months - coucu cate amo zon 1 b. The land was purchased on April 1, 2012 Russell expects the company to own the property for 20 years c An inventory count indicated $61,000 of inventory at December 31, 2012. d. Star Electronics recently signed an agreement with BCIT to supply them with audio Visual equipment. The contract is worth $200,000 and the equipment will be supplied in April of 2013. During December 2012, Star Electronics recorded the receipt of a $50,000 cheque from BCIT in respect of this contract e. The $3,000 annual insurance policy was paid and commenced coverage on May 1, 2012. f. On June 1, 2012 Star Electronics lent a long-time employee $15,000. The employee signed a promissory note agreeing to repay the amount on January 1, 2014 The annual interest of $1,500 is to be received every May 31% 9. A letter from the landlord indicated that the $3,000 rent for December 2012 was still outstanding. Required: 1) Complete the attached worksheet. To save time, the adjusted trial balance columns have been omitted. Do not add the adjusted trial balance columns as the problem ca be completed without this information. You do not have to write out the journal entri separately but you must reference each adjustment or comection on the attached worksheet (20 marks) 2018