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5 questions need answers Is training on the general operation of a welding machine a capital expenditure? And, what T-account will be debited for the
5 questions need answers
Is training on the general operation of a welding machine a capital expenditure? And, what T-account will be debited for the cost? Yes, Office Expense No. Welding Machine No. Wage Expense Yes, Welding Machine Is the installation of a lawn sprinkler a capital expenditure? And, what T-account will be debited for the cost? Yes, Land Yes, Land Improvement Yes, Maintenance Expense No. Maintenance Expense Is repair of a damaged window caused by carelessness a capital expenditure? And, what T-account will be debited for the cost? Yes, Land Improvement Yes, Building No, Building No, Repair and Maintenance Expense Is the cost of Escrow fees and a survey associated with a purchase of land a capital expenditure? And, what T-account will be debited for the cost? Yes, License and Fee Expense Yes, Land Improvement Yes, Land No. Repair and Maintenance Expense Is the annual restriping of a parking lot a capital expenditure? And, what T-account will be debited for the cost? Yes, Building No, Repair and Maintenance Expense Yes. Land Improvement No. No Adjusting Entries are needed. 4 Installation of a lawn sprinkler 5 6 Cost of a survey associated with a purchase of land 8 Repair of a damaged window caused by carelessness Annual restriping of parking lot Interest cost on loan on occupied office building 13 14 Freight costs on purchase of equipment 15 16 Installation of a fire sprinkler in new building 17 Step by Step Solution
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