1.An comptroller neglects to calculate the yearly depreciation for an electric automobile pencil sharpener, which cost $30 and has an expected useful heart of five years. That is because the accountant charged the entire $30 to the seat Expense account at the time of purchase. Explain whether the accountant has violated the consistency, materiality, or full disclosure principle and assure why.
3.In the chart below, write in the numbers of the accounts that ar debited and credited when the given adjustments are made. For items b), c), and d), assume that accounting clerks debited plus accounts when they received the appropriate invoices.
|Adjustments |DR |CR |
|a) Adjust for late-arriving telephone shaft | | |
|b) Adjust for insurance used | | |
|c) Adjust for prepaid evidence | | |
|d) Adjust for supplies used | | |
| key outs | |
|1. |Accounts Payable |7. |Supplies |
|2.
|Customers Account |8. |Prepaid restitution |
|3. |Licence Expense |9. |Prepaid Licences |
|4. |Insurance Expense |10. |Supplies Expense |
|5. |Insurance Assets |11. |Telephone Expense |
|6. | swap Inventory |
4.Kathy Morris owns a small decorating business called Premium Decorating. A partially completed work sheet for Premium Decorating and supererogatory information follow directly.
Additional Information
1.Purchase invoices received in January 20-3, which pertain to goods or services received in 20-2, are
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