Prego Would Report Depreciation in 2009 Of

question 55

Multiple Choice

Prego would report depreciation in 2009 of:

• A)$36,000.
• B)$43,900.
• C)$18,000.
• D)$21,950.Depreciation in 2009 = ($450,000 300,000) = $1.50 per unit 24,000 = $36,000

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Definitions:

Adjusting Entries

Entries recorded in the journals at the close of an accounting period to distribute income and expenditures to the period they actually took place.

Bank Reconciliation

Bank reconciliation is the process of matching the balances in an entity's accounting records for a cash account to the corresponding information on a bank statement.

NSF Check

A check that is not honored by a bank due to insufficient funds in the account of the person who wrote it; also known as a bounced check.

Bank Service Charge

Fees charged by banks for various services such as account maintenance, transactions, or overdrafts.