Capital and Revenue Expenditures On April 29, GTS Co. paid $3,000 to install a hydraulic lift and $32 for an air filter for one of its delivery trucks. Journalize the entries for the new lift. April 29 Journalize the entry for air filter expenditures.
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Capital and Revenue Expenditures
On April 29, GTS Co. paid $3,000 to install a hydraulic lift and $32 for an air filter for one of its delivery trucks.
Journalize the entries for the new lift.
| April 29 | |||
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- Capital Expenditures and Revenue Expenditures Quality Move Company made the following expenditures on one of its delivery trucks: Mar. 20. Replaced the transmission at a cost of $4,855. June 11. Paid $1,740 for installation of a hydraulic lift. Nov. 30. Paid $64 to change the oil and air filter. Prepare the journal entries for each expenditure. If an amount box does not require an entry, leave it blank. Mar. 20 36 June 11 Nov. 30Capital Expenditures and Revenue Expenditures Quality Move Company made the following expenditures on one of its delivery trucks: Mar. 20. Replaced the transmission at a cost of $6,345. June 11. Paid $915 for installation of a hydraulic lift. Nov. 30. Paid $49 to change the oil and air filter. Prepare the journal entries for each expenditure. If an amount box does not require an entry, leave it blank. Mar. 20 June 11 Nov. 30 heck My Work Previous Next All work saved. Save and Exit Submit Assignment for GracOn April 29, Welllington Co. paid $3,230 to install a hydraulic lift and $46 for an air filter for one of its delivery trucks. Journalize the entries for the new lift. Journalize the entry for air filter expenditures.
- Capital and Revenue Expenditures On April 29, GTS Co. paid $1,570 to repair the transmission on one of its delivery vans. In addition, GTS paid $23 to install a GPS system in its van. Journalize the entries for the transmission. If an amount box does not require an entry, leave it blank. April 29 Journalize the entry for GPS system expenditures. If an amount box does not require an entry, leave it blank. 88 April 29Capital and Revenue Expenditures On April 29, Welllington Co. paid $1,530 to repair the transmission on one of its delivery vans. In addition, Welllington paid $46 to install a GPS system in its van. Question Content Area Journalize the entries for the transmission. If an amount box does not require an entry, leave it blank. April 29 - Select - - Select - - Select - - Select - Question Content Area Journalize the entry for GPS system expenditures. If an amount box does not require an entry, leave it blank. April 29 - Select - - Select - - Select - - Select -Capital and Revenue Expenditures On December 2, GTS Co. paid $1,440 to repair the transmission on one of its delivery vans. In addition, GTS paid $27 to install a GPS system in its van. Journalize the entries for the transmission. If an amount box does not require an entry, leave it blank, December 2 Journalize the entry for GPS system expenditures. If an amount box does not require an entry, leave it blank. December 2
- On October 9, Wonder Inflatables Co. paid $1,150 to install a hydraulic lift and $40 for an air filter for one of its delivery trucks. Journalize the entries for the new lift and air filter expenditures.Quality Move Company made the following expenditures on one of its delivery trucks:Mar. 20. Replaced the transmission at a cost of $1,890.June 11. Paid $1,350 for installation of a hydraulic lift.Nov. 30. Paid $55 to change the oil and air filter.Prepare journal entries for each expenditure.Classifying Costs and Decision-Making In July, Carrie's Rock Walls Inc. completed several projects, one of which was a rock wall for city hall. Costs for the month of July for the company included the following. City hall project Salary of consultant who prepared proposals on all new projects Salary of the designer who prepares designs for all new projects City permit for city hall project Cost of brick and mortar for city hall project Monthly depreciation on equipment used for project Miscellaneous tools (shovel, chisel, etc.) used for projects Miscellaneous supplies used during the month on projects Salary of rock layer based on hours worked on project Gas and maintenance expense on vehicles to transport heavy equipment Rent on office space for designer, consultants, and other personnel July $4,000 $4,500 $40 $6,000 $1,000 $6,000 $1,400 $4,500 $500 $2,000 REQUIRED a. Relative to the city hall project, classify each of the following costs as variable or fixed AND direct or indirect.…
- On April 1, Paine Co. began construction of a small building. Payments of P120,000 were made monthly for four months beginning on April 1. The building was completed and ready for occupancy on August 1. For the purpose of determining the amount of interest cost to be capitalized, calculate the weighted-average accumulated expenditures on the building by completing the schedule below: Date Expenditures Capitalization Period Weighted-Average Expenditures _____ _____ _____ _____ _____ _____ _____ _____ _____ _____ _____ _____ _____ _____ _____ _____ _____Betterment versus Maintenance Expenditures During the year, Graham International made the following expenditures relating to plant, machinery, and equipment: Completed regularly scheduled repairs at a cost of $300,000. Overhauled several stamping machines at a cost of $550,000 to improve production efficiency. Replaced a broken cooling pump on a 100-ton press at a cost of $30,000. Required Identify which expenditures should be expensed as a maintenance expense or capitalized as a betterment outlay. Total amount charged as maintenance expense for the year: $Answer Total amount charged as betterment outlays for the year: $AnswerDuring the year just ended, Morton Company made the following expenditures relating to its plant building: Continuing and frequent repairs P1,600,000 Repainted the plant building 400,000 Major improvements to the electrical wiring system 1,280,000 Partial replacement of roof tiles 560,000 How much should be charged to repair and maintenance expense during the year just ended?