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Required information [ The following information applies to the questions displayed below. ] Onslow Company purchased a used machine for $ 1 9 2 ,
Required information The following information applies to the questions displayed below. Onslow Company purchased a used machine for $ cash on January On January Onslow paid $ to wire electricity to the machine. Onslow paid an additional $ on January to secure the machine for operation. The machine will be used for six years and have a $ salvage value. Straightline depreciation is used. On December at the end of its fifth year in operations, it is disposed of Required: Prepare journal entries to record the machine's purchase and the costs to ready it for use. Cash is paid for all costs incurred. Record the purchase of a used machine for $ cash. Record the costs of $ incurred on the used machine. Record the cost of $ for an operating platform. Note : journal entry has been entered
Required information
The following information applies to the questions displayed below.
Onslow Company purchased a used machine for $ cash on January On January Onslow paid $ to wire
electricity to the machine. Onslow paid an additional $ on January to secure the machine for operation. The
machine will be used for six years and have a $ salvage value. Straightline depreciation is used. On December
at the end of its fifth year in operations, it is disposed of
Required:
Prepare journal entries to record the machine's purchase and the costs to ready it for use. Cash is paid for all costs incurred.
Record the purchase of a used machine for $
cash.
Record the costs of $ incurred on the used
machine.
Record the cost of $ for an operating platform.
Note : journal entry has been entered
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