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Prepare Journal Entries to record these transactions and
events
Champion Contractors completed the following transactions and...
Chapter 08 Homework A Saved Champion Contractors completed the following transactions and events involving the purchase...
Chapter 08 Homework A Saved Champion Contractors completed the following transactions and events involving the purchase and operation of equipment in its business. points 2017 Jan. 1 Paid $306,000 cash plus $12,240 in sales tax and $1,500 in transportation (FOB shipping point) for a new loader. The loader is estimated to have a four-year life and a $30, 600 salvage value. Loader costs are recorded in the Equipment account. Jan. 3 Paid $7,000 to enclose the cab and install air-conditioning...
Champion Contractors completed the following transactions and events involving the purchase and operation of equipment in...
Champion Contractors completed the following transactions and events involving the purchase and operation of equipment in its business 2016 Jan. 1 Paid $270,000 cash plus $10,800 in sales tax and $1,600 in transportation (FOB shipping point) for a new loader The loader is estimated to have a four-year life and a $27,000 salvage value. Loader costs are recorded in the Equipment account. Jan. 3 Paid $7,000 to enclose the cab and instal air conditioning in the loader to enable operations...
Champion Contractors completed the following transactions and events involving the purchase and operation of equipment in...
Champion Contractors completed the following transactions and events involving the purchase and operation of equipment in its business. 2016 1 Paid $270,000 cash plus $10,800 in sales tax and $1,800 in transportation (FOB shipping point) for a new loader. The loader is estimated to have a four-year life and a $27,000 salvage value. Loader costs are recorded in the Equipment account. 3 Paid $7,000 to enclose the cab and instal1 air conditioning in the loader to enable operations under harsher...
Champion Contractors completed the following transactions and events involving the purchase and operation of equipment in...
Champion Contractors completed the following transactions and events involving the purchase and operation of equipment in its business. 2016 Jan. 1 Paid $286,000 cash plus $11,440 in sales tax and $1,900 in transportation (FOB shipping point) for a new loader. The loader is estimated to have a four-year life and a $28,600 salvage value. Loader costs are recorded in the Equipment account. Jan. 3 Paid $6,000 to enclose the cab and install air conditioning in the loader to enable operations...
Champion Contractors completed the following transactions and events involving the purchase and operation of equipment in...
Champion Contractors completed the following transactions and events involving the purchase and operation of equipment in its business. 2017 Jan. 1 Paid $254, 000 cash plus $10, 160 in sales tax and $1,900 in transportation (FOB shipping point) for a new loader. The loader is estimated to have a four-year life and a $25, 400 salvage value. Loader costs are recorded in the Equipment account. Jan. 3 Paid $5, 000 to enclose the cab and install air-conditioning in the loader...
Clarion Contractors completed the following transactions and events involving the purchase and operation of equipment in...
Clarion Contractors completed the following transactions and events involving the purchase and operation of equipment in its 2014 Jan. Paid $255,440 cash plus $15,200 in sales tax and $2,500 in transportation (FOB shipping point) for a new loader The loader is estimated to have a four-year life and a $34,740 residual value. Loader costs are recorded in the Equipment account dan 3 Paid $3,660 to enclose the cab and install air conditioning in the loader to enable operations under harsher...
Champion Contractors completed the following transactions and events involving the purchase and operation of equipment in...
Champion Contractors completed the following transactions and events involving the purchase and operation of equipment in its business. 2016 1 Paid $270,000 cash plus $10,800 in sales tax and $1,600 in trans portation (FOB shipping point) for a new loader. The loader is estimated to have a four-year life and a $27, 000 salvage value. Loader costs are recorded in the Equipment account. 3 Paid $5,000 to enclose the cab and install air conditioning in the loader to enable operations...
Problem 10-4A Computing and revising depreciation; revenue and capital expenditures LO C1, C2, C3 Champion Contractors...
Problem 10-4A Computing and revising depreciation; revenue and capital expenditures LO C1, C2, C3 Champion Contractors completed the following transactions and events involving the purchase and operation of equipment in its business 2016 Jan. 1 Paid $314,000 cash plus $12,560 in sales tax and $2,000 in transportation (FOB shipping point) for a new loader. The loader is estimated to have a four-year life and a $31,400 salvage value. Loader costs are recorded in the Equipment account. Jan. 3 Paid $5,000...
Champion Contractors completed the following transactions involving equipment. Year 1 Jan. 1 Paid $318,000 cash plus...
Champion Contractors completed the following transactions involving equipment. Year 1 Jan. 1 Paid $318,000 cash plus $12,720 in sales tax and $1,500 in transportation (FOB shipping point) for a new loader. The loader is estimated to have a four-year life and a $31,800 salvage value. Loader costs are recorded in the Equipment account. Jan. 3 Paid $7,000 to install air conditioning in the loader to enable operations under harsher conditions. This increased the estimated salvage value of the loader by...
Champion Contractors completed the following transactions involving equipment. Year 1 Jan. 1 Paid $322,000 cash plus...
Champion Contractors completed the following transactions involving equipment. Year 1 Jan. 1 Paid $322,000 cash plus $12,880 in sales tax and $1,600 in transportation (FOB shipping point) for a new loader. The loader is estimated to have a four-year life and a $32,200 salvage value. Loader costs are recorded in the Equipment account. Jan. 3 Paid $6,000 to install air conditioning in the loader to enable operations under harsher conditions. This increased the estimated salvage value of the loader by...
Chapter 08 Homework A Saved Champion Contractors completed the following transactions and events involving the purchase and operation of equipment in its business. points 2017 Jan. 1 Paid $306,000 cash plus $12,240 in sales tax and $1,500 in transportation (FOB shipping point) for a new loader. The loader is estimated to have a four-year life and a $30, 600 salvage value. Loader costs are recorded in the Equipment account. Jan. 3 Paid $7,000 to enclose the cab and install air-conditioning...
Champion Contractors completed the following transactions and events involving the purchase and operation of equipment in its business 2016 Jan. 1 Paid $270,000 cash plus $10,800 in sales tax and $1,600 in transportation (FOB shipping point) for a new loader The loader is estimated to have a four-year life and a $27,000 salvage value. Loader costs are recorded in the Equipment account. Jan. 3 Paid $7,000 to enclose the cab and instal air conditioning in the loader to enable operations...
Champion Contractors completed the following transactions and events involving the purchase and operation of equipment in its business. 2016 1 Paid $270,000 cash plus $10,800 in sales tax and $1,800 in transportation (FOB shipping point) for a new loader. The loader is estimated to have a four-year life and a $27,000 salvage value. Loader costs are recorded in the Equipment account. 3 Paid $7,000 to enclose the cab and instal1 air conditioning in the loader to enable operations under harsher...
Champion Contractors completed the following transactions and events involving the purchase and operation of equipment in its business. 2017 Jan. 1 Paid $254, 000 cash plus $10, 160 in sales tax and $1,900 in transportation (FOB shipping point) for a new loader. The loader is estimated to have a four-year life and a $25, 400 salvage value. Loader costs are recorded in the Equipment account. Jan. 3 Paid $5, 000 to enclose the cab and install air-conditioning in the loader...
Clarion Contractors completed the following transactions and events involving the purchase and operation of equipment in its 2014 Jan. Paid $255,440 cash plus $15,200 in sales tax and $2,500 in transportation (FOB shipping point) for a new loader The loader is estimated to have a four-year life and a $34,740 residual value. Loader costs are recorded in the Equipment account dan 3 Paid $3,660 to enclose the cab and install air conditioning in the loader to enable operations under harsher...
Champion Contractors completed the following transactions and events involving the purchase and operation of equipment in its business. 2016 1 Paid $270,000 cash plus $10,800 in sales tax and $1,600 in trans portation (FOB shipping point) for a new loader. The loader is estimated to have a four-year life and a $27, 000 salvage value. Loader costs are recorded in the Equipment account. 3 Paid $5,000 to enclose the cab and install air conditioning in the loader to enable operations...
Problem 10-4A Computing and revising depreciation; revenue and capital expenditures LO C1, C2, C3 Champion Contractors completed the following transactions and events involving the purchase and operation of equipment in its business 2016 Jan. 1 Paid $314,000 cash plus $12,560 in sales tax and $2,000 in transportation (FOB shipping point) for a new loader. The loader is estimated to have a four-year life and a $31,400 salvage value. Loader costs are recorded in the Equipment account. Jan. 3 Paid $5,000...
Champion Contractors completed the following transactions involving equipment. Year 1 Jan. 1 Paid $318,000 cash plus $12,720 in sales tax and $1,500 in transportation (FOB shipping point) for a new loader. The loader is estimated to have a four-year life and a $31,800 salvage value. Loader costs are recorded in the Equipment account. Jan. 3 Paid $7,000 to install air conditioning in the loader to enable operations under harsher conditions. This increased the estimated salvage value of the loader by...
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