subject
Business, 14.05.2021 18:50 kamkam6200

On April 1, 2019, the KB Toy Company purchased equipment to be used in its manufacturing process. The equipment cost $56,200, has an ten-year useful life, and has no residual value. The company uses the straight-line depreciation method for all manufacturing equipment. On January 4, 2021, $14,450 was spent to repair the equipment and to add a feature that increased its operating efficiency. Of the total expenditure, $2,800 represented ordinary repairs and annual maintenance and $11,650 represented the cost of the new feature. In addition to increasing operating efficiency, the total useful life of the equipment was extended to 12 years. Required: 1. Prepare journal entries for the depreciation for 2019 and 2020. 2. Prepare journal entries for the 2021 expenditure. 3. Prepare journal entries for the depreciation for 2021.

ansver
Answers: 1

Another question on Business

question
Business, 21.06.2019 16:30
Kinda moderates the comments section of an online travel magazine.which type of comments should linda flag or delete as inappropriate content
Answers: 2
question
Business, 22.06.2019 03:30
Used cars usually have options: higher depreciation rate than new cars lower financing costs than new cars lower insurance premiums than new cars lower maintenance costs than new cars
Answers: 1
question
Business, 22.06.2019 12:10
Drag each label to the correct location on the image determine which actions by a manager are critical interactions - listening to complaints - interacting with customers - responding to complaints - assigning staff duties -taking action to address customer grievances -keeping track of reservations
Answers: 2
question
Business, 22.06.2019 16:30
Which of the following has the largest impact on opportunity cost
Answers: 2
You know the right answer?
On April 1, 2019, the KB Toy Company purchased equipment to be used in its manufacturing process. Th...
Questions
question
Geography, 23.03.2021 20:50
question
History, 23.03.2021 20:50
question
Mathematics, 23.03.2021 20:50
question
Mathematics, 23.03.2021 20:50
Questions on the website: 13722363