x canvas.newhaven.edu ions > Discussions > Attendance 10/9/23 Attendance 10/9/23 A Dalton Jenkins, MBA, PhD All Sections P7-4 Several years ago, Health Services acquired a helicopter for use in emergency situations. Health Services incurred the following expendit current year: 1. Overhauled the engine at a cost of $7,500. Health Services estimated the work would increase the service life for an additional five years. 2. Cleaned, repacked, and sealed the bearings on the helicopter at a cost of $800. This repair is performed annually. 3. Added new emergency health equipment to the helicopter for $25,000. 4. Modified the helicopter to reduce cabin noise by installing new sound barrier technology at a cost of $15,000. 5. Paid insurance on the helicopter for the current year, which increased 15% over the prior year to $9,000. 6. Performed annual maintenance and repairs at a cost of $39,000. Required: For each expenditure, indicate whether Health Services should capitalize or expense each item. Search entries or author Reply

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