On April 1,2019, the KB Toy Company purchased equipment to be used in its manufacturing...
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Accounting
On April the KB Toy Company purchased equipment to be used in its manufacturing process. The equipment cost $ has an tenyear useful life, and has no residual value. The company uses the straightline depreciation method for all manufacturing equipment.
On January $ was spent to repair the equipment and to add a feature that increased its operating efficiency. Of the total expenditure, $ represented ordinary repairs and annual maintenance and $ represented the cost of the new feature. In addition to increasing operating efficiency, the total useful life of the equipment was extended to years.
Required:
Prepare journal entries for the depreciation for and
Prepare journal entries for the expenditure.
Prepare journal entries for the depreciation for
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