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On Jan.1-2023, the owner deposited 500,000$ in the organization bank account On Jan 1. 2023, the organization purchased (cash) a building 325,000$. Will be used for 20 years (straight line method). Residual value 62,000$ No other payments were done during the month. Please note the organization Usually pay 1700$ For electricity per month. PERFORM JAN ACCOUNTING cycle February - The organization paid Janvary electricity invoice 1,725$ -The organization paid February electricity invoice 1.740$ Perform FEb accounting cycle

On Jan.1-2023, the owner deposited 500,000$ in the organization bank account On Jan 1. 2023, the organization purchased (cash) a building 325,000$. Will be used for 20 years (straight line method). Residual value 62,000$ No other payments were done during the month. Please note the organization Usually pay 1700$ For electricity per month. PERFORM JAN ACCOUNTING cycle February - The organization paid Janvary electricity invoice 1,725$ -The organization paid February electricity invoice 1.740$ Perform FEb accounting cycle

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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On Jan.1-2023, the owner deposited 500,000$ in the organization bank account On Jan 1. 2023, the organization purchased (cash) a building 325,000$. Will be used for 20 years (straight line method). Residual value 62,000$ No other payments were done during the month. Please note the organization Usually pay 1700$ For electricity per month.

PERFORM JAN ACCOUNTING cycle

February

- The organization paid Janvary electricity invoice 1,725$

-The organization paid February electricity invoice 1.740$

Perform FEb accounting cycle

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