The following information are available for Sabbagh company for the year endedDecember 31,2018, The total amount of Fixed Assets are:Land 50,000$Notes Payable ( 3 years ) 45,000$Equipment 30,000$Prepaid Insurance 12,000$Buildings 40,000$Salaries Payable 12,000$Accounts Payable 12,000$Supplies 40,000$Accumulated DepreciationMortgage Payable 30,000$IEquipment 20,000$Unearned Revenue 12,000$Notes Payable ( One year ) 20,000$

Fixed assets are those which provide long term economic benefits and have life of more then one…

* The following information are available for Sabbagh company for the year ended December 31,2018, The total amount of Fixed Assets are: Land 50,000$ Notes Payable ( 3 years) 45,000$ Equipment 30,000$ Prepaid Insurance 12,000$ Buildings 40,00o$ Salaries Payable 12,000$ Accounts Payable 12,000$ Supplies 40,000$ Accumulated Depreciation Mortgage Payable 30,000$ I Equipment 20,000$ Unearned Revenue 12,000$ Notes Payable ( One year) 20,000$

* The following information are available for Sabbagh company for the year ended December 31,2018, The total amount of Fixed Assets are: Land 50,000$ Notes Payable ( 3 years) 45,000$ Equipment 30,000$ Prepaid Insurance 12,000$ Buildings 40,00o$ Salaries Payable 12,000$ Accounts Payable 12,000$ Supplies 40,000$ Accumulated Depreciation Mortgage Payable 30,000$ I Equipment 20,000$ Unearned Revenue 12,000$ Notes Payable ( One year) 20,000$

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter11: Depreciation, Depletion, Impairment, And Disposal

Section: Chapter Questions

Problem 7P: Dinnell Company owns the following assets: In the year of acquisition and retirement of an asset,...

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