Question: I would like to have an answer for number 2. XYZ Co. Thank you. Problem Mr. Potts issued a 90-day, 7% note for S200,000, dated
Problem Mr. Potts issued a 90-day, 7% note for S200,000, dated February 3rd to Valley Co. on account. (Assume a 360-day year when calculating interest.) a. Determine the due date of the note. b. Determine the interest. c. Determine the maturity value of the note. d. Journalize the entry to record the issuance of the note by Potts on Feb. 3. e. Journalize the entry to record the receipt of payment of the note at maturity by Valley Co. 1, XYZ Co. incurred the following costs related to the office building used in operating its sports supply company 2. a. Replaced a broken window b. Replaced the roof that had been on the building 23 years. c. Serviced all the air conditioners before summer started d. Replaced the air conditioners with refrigerated air conditioners in the customer service areas. e. Added a warehouse to the back of the building f. Repainted the interior walls Installed window shutters on all windows. Classify each of the costs as a capital expenditure or a revenue expenditure. For those costs identified as capital expenditures, classify each as an additional or replacement component
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