Maurice Tutor

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    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

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    Phoniex University
    Oct-2001 - Nov-2016

Category > Accounting Posted 10 Apr 2018 My Price 5.00

renovation of the system

A company purchased a heating system on January 2, 2000 for $250,000. The system had an estimated useful life of 15 years. On January 3, 2013, the company completes a renovation of the system that cost of $35,000 and now expects the system to be more efficient to last eight years beyond the original estimate. The company uses the straight-line method of depreciation.

 

a: prepare the journal entry at January 3, 2013 to record the renovation of the heating system.

 

b: prepare the journal entry at December 31, 2013, to record the depreciation for 2013.

Answers

Maurice Tutor
(5)
Status NEW Posted 10 Apr 2018 07:04 PM My Price 5.00

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