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Prepare a Schedule of Depreciation on Property, Plans and Equipment

Prepare a Schedule of Depreciation on Property, Plans and Equipment

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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Prepare a Schedule of Depreciation on Property, Plans and Equipment

N'Cinco Manufacturing Co. N'Cinco Manufacturing Co. Account Balances and Financial Statement Data Income Statement For the year ended December 31 For the year ended December 31, 2020 2020 Accounting and Legal Department Expense $ 4,706,600 Advertising Expense 13,808,100 Amortization Expense: Marketing 996,400 Bad Debts Expense 3,720,800 Corporate Salaries Expense 65,355,800 Delivery Expense 7,687,300 Depreciation Expense: Corporate 5,126,100 Depreciation Expense: Delivery Equipment 2,476,300 Depreciation: Factory and Equipment 9,874,200 Direct Labor 29,568,800 Dividends Declared 91,390,000 Factory Machine Maintenance 4,017,500 Factory Machine Supplies Used 919,200 Freight-In 1,727,300 HR Department Expense 1,813,000 Idle Time: Factory 426,800 Income Tax Expense 81,040,200 Indirect Labor: Factory 8,754,800
Transcribed Image Text:N'Cinco Manufacturing Co. N'Cinco Manufacturing Co. Account Balances and Financial Statement Data Income Statement For the year ended December 31 For the year ended December 31, 2020 2020 Accounting and Legal Department Expense $ 4,706,600 Advertising Expense 13,808,100 Amortization Expense: Marketing 996,400 Bad Debts Expense 3,720,800 Corporate Salaries Expense 65,355,800 Delivery Expense 7,687,300 Depreciation Expense: Corporate 5,126,100 Depreciation Expense: Delivery Equipment 2,476,300 Depreciation: Factory and Equipment 9,874,200 Direct Labor 29,568,800 Dividends Declared 91,390,000 Factory Machine Maintenance 4,017,500 Factory Machine Supplies Used 919,200 Freight-In 1,727,300 HR Department Expense 1,813,000 Idle Time: Factory 426,800 Income Tax Expense 81,040,200 Indirect Labor: Factory 8,754,800
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