Oki Company pays $314,450 for equipment expected to last four years and have a $30,000 salvage value.
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1. During the second year of the equipment's life, $26,650 cash is paid for a new component expected to increase the equipment's productivity by 10% a year. 2. During the third year, $6,663 cash is paid for normal repairs necessary to keep the equipment in good working order. 3. During the fourth year, $19,600 is paid for repairs expected to increase the useful life of the equipment from four to five years. View transaction list Journal entry worksheet 1 2 3 > Record the betterment cost of $26,650 pald in cash. Note: Enter debits before credits. Transaction General Journal Debit Credit Record entry Clear entry View general journal 1. During the second year of the equipment's life, $26,650 cash is paid for a new component expected to increase the equipment's productivity by 10% a year. 2. During the third year, $6,663 cash is paid for normal repairs necessary to keep the equipment in good working order. 3. During the fourth year, $19,600 is paid for repairs expected to increase the useful life of the equipment from four to five years. View transaction list Journal entry worksheet 1 2 3 > Record the betterment cost of $26,650 pald in cash. Note: Enter debits before credits. Transaction General Journal Debit Credit Record entry Clear entry View general journal
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Oki Company General Journal Year Accounts Title and Explanation Debit Credit ... View the full answer
Related Book For
Fundamental Accounting Principles
ISBN: 978-0078110870
20th Edition
Authors: John J. Wild, Ken W. Shaw, Barbara Chiappetta
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