(d) The company had acquired equipment costing S40,000 on January 1 of the current year....
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(d) The company had acquired equipment costing S40,000 on January 1 of the current year. Suppose that the depreciation on this equipment was calculated to be $2,000 for the current year Debit and credit the accounts affected. Ensure the equation still balances and debits = credits. Assets Liabilities Stockholders' Equity (e) On December 1 of the current year, the company had sold S500 in gift certificates for decorating services to a customer. On December 31 of the current year, the accountant received an envelope containing S400 worth of redeemed gift certificates, not yet recorded in the company's books. Debit and credit the accounts affected. Dec. 31 Ensure the equation still balances and debits credits Assets Liabilities Stockholders' Equity (1) Investments owned by the company earned $1.200 in additional interest revenue for the year, the cash will be received in January Debit and credit the accounts affected. Dec. 31 Ensure the equation still balances and debits - credits. Assets Liabilities Stockholders' Equity
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