A DEBIT to Equipment of $20,000. Assuming everything held the same, EXCEPT for an additional expenditure of $3,000 made to install the build a platform to get the asset ready for operation. What would be the new Journal Entry (JE)?

Q2: SP-2 shows LAND at 30,000 and Equipment at 20,000. Suppose that the appraisal of the Land and Equipment had not been 27,600 and 18,400, respectively, but rather 28,600 and 17,400*. What would be the new Journal Entry (JE)? Calculate.

 

 

Answer rating: 100% (QA)

In both questions were essentially adjusting the balances of two specific assets in the companys boo... View the full answer