Capital Expenditures and Revenue Expenditures Quality Move Company made the following expenditures on one of its...
Capital Expenditures and Revenue Expenditures
Quality Move Company made the following expenditures on one of its delivery trucks:
| Mar. 20. | Replaced the transmission at a cost of $6,700. |
| June 11. | Paid $1,770 for installation of a hydraulic lift. |
| Nov. 30. | Paid $80 to change the oil and air filter. |
Prepare the journal entries for each expenditure. If an amount box does not require an entry, leave it blank.
| Mar. 20 | Accumulated Depreciation-Delivery Truck | ||
| Cash | |||
| June 11 | Delivery Truck | ||
| Cash | |||
| Nov. 30 | Repairs and Maintenance Expense | ||
| Cash |
Homework Answers
| 20-Mar | Delivery Truck | $6,700 | ||
| Cash | $6,700 | |||
| 11-Jun | Delivery Truck | $1,770 | ||
| Cash | $1,770 | |||
| 30-Nov | Repairs and Maintenance Expense | $80 | ||
| Cash | $80 | |||
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Capital Expenditures and Revenue Expenditures
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