Keatts Corporation owns a machine that was purchased 3 years ago. The company spent $7,000...
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Accounting
Keatts Corporation owns a machine that was purchased 3 years ago. The company spent $7,000 improve the productive quality of the machine. Which of the following choices represents the journal entry necessary to record this transaction?
Assets
=
Liab.
+
Equity
Rev.
Exp.
=
Net Inc.
Cash Flow
Cash
+
Mach.
Acc. Dep.
(7,000)
+
n/a
n/a
=
n/a
+
(7,000)
n/a
7,000
=
(7,000)
(7,000) OA
Assets
=
Liab.
+
Equity
Rev.
Exp.
=
Net Inc.
Cash Flow
Cash
+
Mach.
Acc. Dep.
(7,000)
+
7,000
n/a
=
n/a
+
n/a
n/a
n/a
=
n/a
(7,000) IA
Assets
=
Liab.
+
Equity
Rev.
Exp.
=
Net Inc.
Cash Flow
Cash
+
Mach.
Acc. Dep.
(7,000)
+
n/a
(7,000)
=
n/a
+
n/a
n/a
n/a
=
n/a
(7,000) IA
Assets
=
Liab.
+
Equity
Rev.
Exp.
=
Net Inc.
Cash Flow
Cash
+
Mach.
Acc. Dep.
(7,000)
+
n/a
n/a
=
n/a
+
(7,000)
n/a
7,000
=
(7.000)
(7,000) IA
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