Homework Answers
| Account Titles and Explanation | Debit | Credit | |
| 1 | Equipment | $ 28,900 | |
| Cash | $ 28,900 | ||
| 2 | Repair Expense | $ 7,225 | |
| Cash | $ 7,225 | ||
| 3 | Equipment | $ 21,850 | |
| Cash | $ 21,850 |
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ent Saved Exercise 8-14 Ordinary repairs, extraordinary repairs, and betterments LO C3 Oki Company pays $270,250 for...
Exercise 8-14 Ordinary repairs, extraordinary repairs, and betterments LO C3 Oki Company pays $264,000 for equipment...
Exercise 8-14 Ordinary repairs, extraordinary repairs, and betterments LO C3 Oki Company pays $264,000 for equipment expected to last four years and have a $29,000 salvage value. Prepare journal entries to record the following costs related to the equipment. 1. Paid $22,000 cash for a new component that increased the equipment's productivity 2. Paid $6,250 cash for minor repairs necessary to keep the equipment working well 3. Paid $14,870 cash for significant repairs to increase the useful life of the...
Exercise 10-14 Ordinary repairs, extraordinary repairs, and betterments LO C3 Oki Company pays $256,600 for equipment...
Exercise 10-14 Ordinary repairs, extraordinary repairs, and betterments LO C3 Oki Company pays $256,600 for equipment expected to last four years and have a $30,000 salvage value. Prepare journal entries to record the following costs related to the equipment 1. During the second year of the equipment's life, $23.250 cash is paid for a new component expected to increase the equipment's productivity by 10% a year 2. During the third year, $5,813 cash is paid for normal repairs necessary to...
Chapter 08 Homework A Saved Oki Company pays $265,800 for equipment expected to last four years...
Chapter 08 Homework A Saved Oki Company pays $265,800 for equipment expected to last four years and have a $30,000 salvage value. Prepare journal entries to record the following costs related to the equipment points 1. During the second year of the equipment's life, $19,000 cash is paid for a new component expected to increase the equipment's productivity by 10% a year. 2. During the third year, $4,750 cash is paid for normal repairs necessary to keep the equipment in...
Oki Company pays $300,350 for equipment expected to last four years and have a $30,000 salvage...
Oki Company pays $300,350 for equipment expected to last four years and have a $30,000 salvage value. Prepare journal entries to record the following costs related to the equipment. 1. During the second year of the equipment's life, $14,950 cash is paid for a new component expected to increase the equipment's productivity by 10% a year. 2. During the third year, $3,738 cash is paid for normal repairs necessary to keep the equipment in good working order. 3. During the...
Oki Company pays $262,100 for equipment expected to last four years and have a $30,000 salvage value. Prepare journal e...
Oki Company pays $262,100 for equipment expected to last four years and have a $30,000 salvage value. Prepare journal entries to record the following costs related to the equipment. 1. During the second year of the equipment's life, $15,300 cash is paid for a new component expected to increase the equipment's productivity by 10% a year. 2. During the third year, $3,825 cash is paid for normal repairs necessary to keep the equipment in good working order. 3. During the...
please help Oki Company pays $253,100 for equipment expected to last four years and have a...
please
help
Oki Company pays $253,100 for equipment expected to last four years and have a $30,000 salvage value. Prepare Journal entries to record the following costs related to the equlpment 1, During the second year of the equipment's life, $27400 cash Is pald for a new component expected to Increase the equipment's productivity by 10% a year. 2 Durtng the third year, $6.850 cash is pald for normal repairs necessary to keep the equipment In good working order 3....
Oki Company pays $264,000 for equipment expected to last four years and have a $29.000 salvage...
Oki Company pays $264,000 for equipment expected to last four years and have a $29.000 salvage value. P record the following costs related to the equipment. 1. Paid $22,000 cash for a new component that increased the equipment's productivity 2. Paid $6,250 cash for minor repairs necessary to keep the equipment working well. 3. Paid $14,870 cash for significant repairs to increase the useful life of the equipment from four to seven year View transaction list Journal entry worksheet <...
Oki Company pays $264,000 for equipment expected to last four years and have a $29,000 salvage...
Oki Company pays $264,000 for equipment expected to last four years and have a $29,000 salvage value. Prepare journal entriesto record the following costs related to the equipment 1. Paid $22,000 cash for a new component that increased the equipment's productivity 2. Paid $6,250 cash for minor repairs necessary to keep the equipment working well. 3. Pald $14,870 cash for significant repairs to increase the useful life of the equipment from four to seven years. View transaction list Journal entry...
Use the following information for the Exercises below. (The following information applies to the questions displayed...
Use the following information for the Exercises below. (The following information applies to the questions displayed below.) In early January 2017, NewTech purchases computer equipment for $271,000 to use in operating activities for the next four years. It estimates the equipment's salvage value at $25,000. Exercise 10-7 Straight-line depreciation LO P1 Prepare a table showing depreciation and book value for each of the four years assuming straight-line depreciation. Straight-Line Depreciation Choose Numerator: Choose Denominator: Annual Depreciation Expense = Depreciation expense...
15? Exercise 8-15 Extraordinary repairs; plant asset age LO C3 Martinez Company owns a building that...
15?
Exercise 8-15 Extraordinary repairs; plant asset age LO C3 Martinez Company owns a building that appears on its prior year-end balance sheet at its original $760,000 cost less $570,000 accumulated depreciation. The building is depreciated on a straight-line basis assuming a 20-year life and no salvage value. During the first week in January of the current calendar year, major structural repairs are completed on the building at a $76,000 cost. The repairs extend its useful life for 5 years...
Exercise 8-14 Ordinary repairs, extraordinary repairs, and betterments LO C3 Oki Company pays $264,000 for equipment expected to last four years and have a $29,000 salvage value. Prepare journal entries to record the following costs related to the equipment. 1. Paid $22,000 cash for a new component that increased the equipment's productivity 2. Paid $6,250 cash for minor repairs necessary to keep the equipment working well 3. Paid $14,870 cash for significant repairs to increase the useful life of the...
Exercise 10-14 Ordinary repairs, extraordinary repairs, and betterments LO C3 Oki Company pays $256,600 for equipment expected to last four years and have a $30,000 salvage value. Prepare journal entries to record the following costs related to the equipment 1. During the second year of the equipment's life, $23.250 cash is paid for a new component expected to increase the equipment's productivity by 10% a year 2. During the third year, $5,813 cash is paid for normal repairs necessary to...
Chapter 08 Homework A Saved Oki Company pays $265,800 for equipment expected to last four years and have a $30,000 salvage value. Prepare journal entries to record the following costs related to the equipment points 1. During the second year of the equipment's life, $19,000 cash is paid for a new component expected to increase the equipment's productivity by 10% a year. 2. During the third year, $4,750 cash is paid for normal repairs necessary to keep the equipment in...
Oki Company pays $300,350 for equipment expected to last four years and have a $30,000 salvage value. Prepare journal entries to record the following costs related to the equipment. 1. During the second year of the equipment's life, $14,950 cash is paid for a new component expected to increase the equipment's productivity by 10% a year. 2. During the third year, $3,738 cash is paid for normal repairs necessary to keep the equipment in good working order. 3. During the...
Oki Company pays $262,100 for equipment expected to last four years and have a $30,000 salvage value. Prepare journal entries to record the following costs related to the equipment. 1. During the second year of the equipment's life, $15,300 cash is paid for a new component expected to increase the equipment's productivity by 10% a year. 2. During the third year, $3,825 cash is paid for normal repairs necessary to keep the equipment in good working order. 3. During the...
please
help
Oki Company pays $253,100 for equipment expected to last four years and have a $30,000 salvage value. Prepare Journal entries to record the following costs related to the equlpment 1, During the second year of the equipment's life, $27400 cash Is pald for a new component expected to Increase the equipment's productivity by 10% a year. 2 Durtng the third year, $6.850 cash is pald for normal repairs necessary to keep the equipment In good working order 3....
Oki Company pays $264,000 for equipment expected to last four years and have a $29.000 salvage value. P record the following costs related to the equipment. 1. Paid $22,000 cash for a new component that increased the equipment's productivity 2. Paid $6,250 cash for minor repairs necessary to keep the equipment working well. 3. Paid $14,870 cash for significant repairs to increase the useful life of the equipment from four to seven year View transaction list Journal entry worksheet <...
Oki Company pays $264,000 for equipment expected to last four years and have a $29,000 salvage value. Prepare journal entriesto record the following costs related to the equipment 1. Paid $22,000 cash for a new component that increased the equipment's productivity 2. Paid $6,250 cash for minor repairs necessary to keep the equipment working well. 3. Pald $14,870 cash for significant repairs to increase the useful life of the equipment from four to seven years. View transaction list Journal entry...
Use the following information for the Exercises below. (The following information applies to the questions displayed below.) In early January 2017, NewTech purchases computer equipment for $271,000 to use in operating activities for the next four years. It estimates the equipment's salvage value at $25,000. Exercise 10-7 Straight-line depreciation LO P1 Prepare a table showing depreciation and book value for each of the four years assuming straight-line depreciation. Straight-Line Depreciation Choose Numerator: Choose Denominator: Annual Depreciation Expense = Depreciation expense...
15?
Exercise 8-15 Extraordinary repairs; plant asset age LO C3 Martinez Company owns a building that appears on its prior year-end balance sheet at its original $760,000 cost less $570,000 accumulated depreciation. The building is depreciated on a straight-line basis assuming a 20-year life and no salvage value. During the first week in January of the current calendar year, major structural repairs are completed on the building at a $76,000 cost. The repairs extend its useful life for 5 years...
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