Aiken Company owns a truck that was purchased 4 years ago. The company spent $4,000...
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Accounting
Aiken Company owns a truck that was purchased 4 years ago. The company spent $4,000 to replace the transmission which will extend the useful life by 2 years. Which of the following choices represents the journal entry necessary to record this transaction?
Assets
=
Liab.
+
Equity
Rev.
Exp.
=
Net Inc.
Cash Flow
Cash
+
Truck
Acc. Dep.
(4,000)
+
n/a
n/a
=
n/a
+
(4,000)
n/a
4,000
=
(4,000)
(4,000) OA
Assets
=
Liab.
+
Equity
Rev.
Exp.
=
Net Inc.
Cash Flow
Cash
+
Truck
Acc. Dep.
(4,000)
+
4,000
n/a
=
n/a
+
n/a
n/a
n/a
=
n/a
(4,000) IA
Assets
=
Liab.
+
Equity
Rev.
Exp.
=
Net Inc.
Cash Flow
Cash
+
Truck
Acc. Dep.
(4,000)
+
n/a
(4,000)
=
n/a
+
n/a
n/a
n/a
=
n/a
(4,000) IA
Assets
=
Liab.
+
Equity
Rev.
Exp.
=
Net Inc.
Cash Flow
Cash
+
Truck
Acc. Dep.
(4,000)
+
n/a
n/a
=
n/a
+
(4,000)
n/a
4,000
=
(4,000)
(4,000) IA
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