Journalize the following transactions for Orange Company of Surrey. 2012 Purchased a machine for $89,500 along with
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Purchased a machine for $89,500 along with an additional charge for freight and assembly of $1,50 Purchased land at a cost of $22,000. The $22,000 included legal fees of $2,500. Purchased a building for $90,000, putting down 10% and mortgaging the remainder At a cost of $1,900, cleared and graded the land purchased on April 10 (the additional cost considered as part of the cost of land). Apr. 3 10 16 30 May Performed regular maintenance work on machinery, $160, to maintain its normal operations. Painted the building purchased on April 16, $2,900 Painting was necessary to have the building ready for proper use. Purchased a second airplane for company business, $65,000 Installed a hydraulic loader on a truck at a cost of $2,900. First airplane's engine was overhauled for $7,900 Building is completely renovated at a cost of $30,000, which will extend its life by 10 years. 8 May June July Sept. 29 27 30 28
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College Accounting A Practical Approach
ISBN: 978-0132564441
11th Canadian Edition
Authors: Jeffrey Slater, Brian Zwicker
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