Oki Company pays $310,150 for equipment expected to last four years and have a $30,000 salvage value. Prepare jour record the following costs related to the equipment. 1. Paid $23,700 cash for a new component that increased the equipment's productivity. 2. Paid $5,925 cash for minor repairs necessary to keep the equipment working well. 3. Paid $16,650 cash for significant repairs to increase the useful life of the equipment from four to seven years.

Oki Company pays $310,150 for equipment expected to last four years and have a $30,000 salvage value. Prepare jour record the following costs related to the equipment. 1. Paid $23,700 cash for a new component that increased the equipment's productivity. 2. Paid $5,925 cash for minor repairs necessary to keep the equipment working well. 3. Paid $16,650 cash for significant repairs to increase the useful life of the equipment from four to seven years.

Name: AB CRecord the betterment cost of $23,700 paid in cash.Note: Enter de
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Description: AB CRecord the betterment cost of $23,700 paid in cash.Note: Enter debits before credits..Transaction1General JournalDebitCredit> Oki Company pays $310,150 for equipment expected to last four years and have a $30,000 salvage value. Prepare journal e

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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