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The following Information applies to the questions displayed below Precision Construction entered Into the following transactions during a recent year January 2 Purchased a bulldozer
The following Information applies to the questions displayed below Precision Construction entered Into the following transactions during a recent year January 2 Purchased a bulldozer for $284,000 by paying $37,000 cash and signing a $247,000 note due in five years. January 3 Replaced the steel tracks on the bulldozer at a cost of $37,000, purchased on account January 30 Wrote a check for the amount owed on account for the work completed on January 3. February Replaced the seat on the bulldozer and wrote a check for the full $2,500 cost. March 1 Paid $13,800 cash for the rights to use computer software for a two-year period. References PA9-3 Analyzing and Recording Long-Lived Asset Transactions with Partial-Year Depreciation [LO 9-2, LO 9-3, LO 9-6 Section Break value: 11.11 points PA9-3 Part 1-a Required 1-a. Complete the table below, indicating the account, amount, and direction of the effect (+for increase and for decrease) for the above transactions. (Enter any decreases to Assets, Liabilities, or Stockholders' Equity with a minus sign.) Date Assets Liabilities Stockholders' Equity January 02 January 03 January 30 February 01 March 01
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