Question: Johnstone Company just bought a machine for 6 000 with

Johnstone Company just bought a machine for $ 6,000, with an estimated life of five years and an estimated salvage value of $ 2,000; straight-line depreciation expense is $ 800. Record journal entries for the following transactions:
Jan. 12 Issued Ck. No. 1832 for $ 525 for inspection and lubrication of the machine.
Oct. 15 Issued Ck. No. 1876 for $ 2,120 to replace the motor and rollers. Johnstone Company estimates that this repair will extend the life of the machine about two years.


View Solution:


Sale on SolutionInn
Sales0
Views111
Comments
  • CreatedOctober 21, 2014
  • Files Included
Post your question
5000