On January 1, 20X1, Johnson Consulting purchased a truck for $32,400. The truck is expected to last 60 months and have no salvage value. Calculate the book value of the truck on December 31, 20X2.  

The act of judging is expressed with:

The account credited in the adjusting entry made to record the expiration of a portion of prepaid rent is the:  

Equipment cost $43,200 and is expected to be useful for 4 years and have no salvage value. Under the straight-line method, monthly depreciation will be:  

It is not possible for accounts with $0 balances in the trial balance section of the worksheet to have a positive balance within the adjusted trial balance section of the worksheet.

Transactions in a journal are initially recorded in:

The journal entry to record the purchase of equipment for $630 and Furniture for $370 in a single transaction would include:

A company purchased equipment costing $13,800. They paid $1,280 right away and agreed to pay the balance in 30 days, the journal entry to record the purchase of equipment would include:

The Posting Reference column of a journal is used to:

Blocking Incorporated performed services for clients in the amount of $2,100 on credit. If this transaction had been posted in error to the Cash account instead of the Accounts Receivable account, what correcting entry would be necessary?