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The Mountaineers are a nationalily recognized football team that recently purchascd gym equipment for $82,000 cash. The equipment had an estimated useful life of ten
The Mountaineers are a nationalily recognized football team that recently purchascd gym equipment for $82,000 cash. The equipment had an estimated useful life of ten vears and a $5,200 salvage value At the beginning of the foorth yosr of cise, the compary spent an additional $20,500 related to the equipment. The company's financial condition just prior to this expenditure is shown in the following statements model Required: Record the $20,500 expenditure in the statements model under each of the following independent assumptions: a. The expenditure was for rovtine maintensnce: b. The expenditure extended the compressor's ife. c. The expenditure improved the compressor's operating copacity. Note: In the Cash Flow column, use OA to designate operating activity, IA for investment activity, FA for financing activity, and NC for net change in cash. Enter any decreases to account balances and cash outflows with a minus sign. Not all cells require an input-leave cells blank if there is no corresponding input needed
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