Some people like to play a game that constructs a sequence of chemical elements where each element in the sequence begins with the last letter of its predecessor. For example,….
provide depreciation for December
1. The one-year P6,000 insurance paid was effective December 1. 2. Office rental of P4,000 for the month of December was still unpaid. 3. Interest of 18% per annum on the P60,000 bank loan granted on December 11, has accrued. 4. Advertising placement of P3,600 for three months was effective on December 1 5. Fees of P5,000 collected in advance on December 30 will be for services to be rendered next year. 6. Office supplies unused at the end of the month amounted to P1,600. 7. Furniture and Equipment are estimated to have a useful life of ten years. It was decided to provide depreciation for December