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Question: 1. Classify the following as either revenue or capital expenditures.
a. Completed an addition to an office building for $250,000 cash.
b. Paid $160 for the monthly cost of replacement filters on an air-conditioning system.
c. Paid $300 cash per truck for the cost of their annual tune-ups.
d. Paid $50,000 cash to replace a compressor on a refrigeration system that extends its useful life by four years.
2. Prepare the journal entries to record transactions a and d of part 1.
Prepare the appropriate journal entries for fiscal 2007. Assume the marina operator is unsophisticated in business. Explain the managerial significance of the accounting above to this person.
Wyoming Wholesale has gathered the following data on the number of shipments received and the cost of receiving reports for the first seven weeks of 2010.
If wage rates and material costs remain relatively constant, would you expect the cost per equivalent unit to vary much from period to period?
on march 1 2004 tucker corporation purchased a new machine for 355000. at the time of acquisition the machine was
kyle inc. has collected the following data on one of its products direct materials standard 4 per finished unit total
What interest rate (to the nearest percent) was used to determine the amount of the annuity? (Assume end-of-year payments)
Business news articles (originals or copies) onwards only. Articles MUST be from English-language local or international newspapers, electronic/on-line or printed/hard copy.
What is the difference between the cost of merchandise purchased and the cost of merchandise available for sale? Can they be the same amount? Explain.
Discuss the propriety of the charge. If it was improper, describe the proper treatment.
a year ago crunchy cola corporation bought a stamping machine to make the cans for its cola. the cost of the machine
Several not-for-profit organizations use television campaigns to obtain pledges to contribute cash. Some people think that not-for-profit entities should recognize pledges as revenues when the cash is actually received.
Record the above transactions in general journal form and post to T-accounts.
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