Business Finance Homework Help

This extra credit is worth 1 point towards your overall class grade.

!!!You must handwrite your answers on paper and upload a picture or scan unless you have OSS accommodations!!!

Your assignment is as follows (please write the number of each answer on your paper):This is all based on Chapter 10 objective 4. Dollar amounts are of course not necessary, as you are not provided any to work with.

1) Write the necessary journal entry if an expenditure for a Building is classified as an addition. Assume it was paid in cash.

2) Write the journal entry for replacement Flooring if the carrying value (Historical Cost – Accumulated Depreciation) of the old flooring is known.

3) What is the journal entry for an Equipment improvement (paid for in cash) that only increased the useful life of the equipment. And the carrying value of the old part is NOT known.

4) What is the journal entry for an Equipment improvement (paid for in cash) that improves the quality of the equipment’s production, but not its useful life. Carrying value of the old part is unknown.

5) If a maintenance repair is made to equipment (paid in cash) to maintain it in normal working order, what is the journal entry?