Question: how would I update the fixed asset subsidiary ledger. Nancy Ford is an employee at Waren. FIXED ASSET SUBSIDIARY LEDGER Item Office Furniture Straight-line Depreciation

 how would I update the fixed asset subsidiary ledger. Nancy Ford

is an employee at Waren. FIXED ASSET SUBSIDIARY LEDGER Item Office Furniture

how would I update the fixed asset subsidiary ledger. Nancy Ford is an employee at Waren.

FIXED ASSET SUBSIDIARY LEDGER Item Office Furniture Straight-line Depreciation Method Office Purchased From Chicago Office Supply Where Located 0 Estimated Life 5 years Estimated Salvage Value $ Asset Record Credit Balance Debit Debit 15075000 5075000 Sept. 3016 Dec. 31 C. 31 17 Dec. 31 18 Dec. 31 19 Dec. 31 20 Dec 31 Depreciation Record Asset Net Credit Balance Book Value 50 750.00 507500 50 75.00 45675.00 10/15 000 1522500 35525.00 10 15000 2537500 2537500 10 15000 35 525.00 1522500 10 15 000 45675.00 15/07500 50 75.00 507 50 00 -0- Trans. Document? # Dec. Flowchart 21 29th No N/A Description Sold two bookshelves to Nancy Ford for $275. Nancy will pay this amount to Waren in January of 2023. The bookshelves were purchased for a cost of $925 on September 30, 2016, along with other office furniture costing $49,825 (total purchase was $50,750). The book- shelves were fully depreciated at the end of 2021. Add a new general ledger account to the last page of the general ledger. Assign it G/L #10210 - Accounts Receivable from Employees. Be sure to include this account in the proper section of Waren's 2022 financial statements. Do not be concerned that the new account is out of sequence in the G/L. Waren reorganizes its chart of accounts and G/L at the beginning of a new fiscal year. Don't forget to update the fixed asset subsidiary ledger. FIXED ASSET SUBSIDIARY LEDGER Item Office Furniture Straight-line Depreciation Method Office Purchased From Chicago Office Supply Where Located 0 Estimated Life 5 years Estimated Salvage Value $ Asset Record Credit Balance Debit Debit 15075000 5075000 Sept. 3016 Dec. 31 C. 31 17 Dec. 31 18 Dec. 31 19 Dec. 31 20 Dec 31 Depreciation Record Asset Net Credit Balance Book Value 50 750.00 507500 50 75.00 45675.00 10/15 000 1522500 35525.00 10 15000 2537500 2537500 10 15000 35 525.00 1522500 10 15 000 45675.00 15/07500 50 75.00 507 50 00 -0- Trans. Document? # Dec. Flowchart 21 29th No N/A Description Sold two bookshelves to Nancy Ford for $275. Nancy will pay this amount to Waren in January of 2023. The bookshelves were purchased for a cost of $925 on September 30, 2016, along with other office furniture costing $49,825 (total purchase was $50,750). The book- shelves were fully depreciated at the end of 2021. Add a new general ledger account to the last page of the general ledger. Assign it G/L #10210 - Accounts Receivable from Employees. Be sure to include this account in the proper section of Waren's 2022 financial statements. Do not be concerned that the new account is out of sequence in the G/L. Waren reorganizes its chart of accounts and G/L at the beginning of a new fiscal year. Don't forget to update the fixed asset subsidiary ledger

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