UsfolCcSadiilbasisforeachoftheertisingExpense,Cash,paidRent,RentExpense,sedonthebalancesgs. Cullumber Corporation, a ski tuning and repair shop, opened November 1,2024 . The company...
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UsfolCcSadiilbasisforeachoftheertisingExpense,Cash,paidRent,RentExpense,sedonthebalancesgs. Cullumber Corporation, a ski tuning and repair shop, opened November 1,2024 . The company carefully kept track of all its cash receipts and cash payments. The following information is available at the end of the ski season, April 30, 2025. You learn that the repair equipment has an estimated useful life of 5 years (ret. 9). The company rents space at a cost of $236 per month on a one-year lease. The lease contract requires payment of the first and last months' rent in advance, which was done (ret 10). The part-time helper is owed \$\$76 at April 30,2025, for unpaid salaries (ref. 11). At April 30, 2025, customers owe Cullumber Corporation $20 for services they have received but have not yet paid for (ref, 12)
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