A motor in one of Excel’s trucks was overhauled at a cost of $4,200. Excel expects
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- Beam777
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For each of the items below, prepare the appropriate entry.
1. A motor in one of Excel’s trucks was overhauled at a cost of $4,200. Excel expects this overhaul will make the truck operated on a more efficient basis, i.e., the truck will get better gas mileage.
2. James, a maintenance worker at Excel, spent the entire week unloading and setting up a new machine in Excel’s factory. James’ earned $2,000 that week, however, James will not be paid until the following week. (Do not worry about any withholdings from James’ pay.)
3. Excel incurred and paid $1,600 for ordinary repairs on one of its machines.
4. Excel incurred and paid $4,000 for adjustments to one of its machines. The adjustments will increase the useful life of the machine.
[Solved] A motor in one of Excel’s trucks was overhauled at a cost of $4,200. Excel expects
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- Submitted On 22 Jun, 2017 03:44:48
- Beam777
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