please fix all the incorrect answers which is appear to be red Comprehensive Pro

Question

please fix all the incorrect answers which is appear to be red

Comprehensive Problem 9 Kenseth Corporation's unadjusted trial balance at December 1, 2014, is presented below Debit Credit Cash Accounts Receivable Notes Receivable Interest Receivable Inventory Prepaid Insurance Land Buildings Equipment Patent Allowance for Doubtful Accounts Accumulated Depreciation-Buildings Accumulated Depreciation-Equipment Accounts Payable Salaries and Wages Payable Notes Payable (due April 30, 2015) Interest Payable Notes Payable (due in 2020) Common Stock Retained Earnings Dividends Sales Revenue Interest Revenue Gain on Disposal of Plant Assets $25,070 36,350 8,200 36,320 3,840 20,000 141,000 60,500 10,530 $590 47,000 24,200 27,500 12,000 35,310 57,700 11,110 14,700 939,700

Explanation / Answer

Journal Entry Date Particulars Dr. Amt Cr. Amt Dep Exp.                                          Dr.          10,276 To Accumulated dep - Equipment          10,276 Dep. Exp. On Equipment Book Value of Equipment om Dec 1 60500 Less: Book Value of Equipment Sold 4900 Balance 55600 Dep. On old Equipment = (55600 - 5560) / 5 Years = $10008 Dep on New Equiment = (18000 - 1920) /5 Years X 1/12 = $268 Total Dep. = 10008 +276 = $10276 Keneseth Corporation Adjusted Trial Balance Dec 31, 2014 Dr. Amt. Cr. Amt. Cash                  3,820 Accounts receivables                41,850 Notes Receivables                  8,200 Interest receivables                      492 Inventory                33,120 Prepaid Insurance                  1,280 Land                20,000 Buildings              141,000 Equipment                73,600 Patents                  9,360 Allowance for D. debts              4,140 Accumulated Dep - Buildings            50,650 Accumulated Dep - Equipments            32,506 Accounts Payables            27,500 Salaries & Wages Expenses              2,080 Notes Payables            47,310 Interest Payables              4,731 Income Tax payable            12,810 Common Stock            57,700 retained Earnings            11,110 Dividends                14,700 Sales revenue          945,200 Interest revenue                  492 Gain on Disposal of Plant & Equipment              1,040 Bad debts Exp.                  3,550 Cost of Goods Sold              638,200 Dep. Exp.                14,366 Insurance Exp.                  2,560 Interest Exp.                  4,731 Other Operating Exp.                61,800 Amortization Exp.                  1,170 Salaries & Wages              110,660 Income Tax Expense                12,810          1,197,269      1,197,269

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