. Paid $64,000 cash to replace a motor on equipment that extends its useful life by four years. . Paid $320 cash per truck for the cost of their annual tune-ups. . Paid $256 for the monthly cost of replacement filters on an air-conditioning system. 1. Completed an addition to a building for $360,000 cash. Classify the above transactions as either a revenue expenditure or a capital expenditure. . Prepare the journal entries to record the four transactions from part 1. Complete this question by entering your answers in the tabs below.

. Paid $64,000 cash to replace a motor on equipment that extends its useful life by four years. . Paid $320 cash per truck for the cost of their annual tune-ups. . Paid $256 for the monthly cost of replacement filters on an air-conditioning system. 1. Completed an addition to a building for $360,000 cash. Classify the above transactions as either a revenue expenditure or a capital expenditure. . Prepare the journal entries to record the four transactions from part 1. Complete this question by entering your answers in the tabs below.

Name: a. Paid $64,000 cash to replace a motor on equipment that extends its
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Description: a. Paid $64,000 cash to replace a motor on equipment that extends its useful life by four years.b. Paid $320 cash per truck for the cost of their annual tune-ups.c. Paid $256 for the monthly cost of replacement filters on an air-conditioning system.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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