You are the bookkeeper for a business. Your current task is to prepare its year end financial statements.
On April our business lent $ to a major customer. The customer signed a month, promissory note, promising to pay the loan principal with accrued interest on maturity.
On June our business sold annual season's tickets for admission to rides such as the Gargantuan Ferris Wheel. The season is yeararound. The annual season's ticket sales were $ on that date.
On October our business purchases electrical equipment at the cost of $ The equipment has an expected useful life of five years and a $ residual value. The straightline depreciation method is used.
Our business is open five days a week, Thursdays to Monday. Employees are paid $ in salaries every two weeks. Employees were last paid on Friday, December up to and including Friday of that week Ignore any statutory holidays in your calculations. Employees will next be paid on Friday, January
