Answer:
1. Repainted the office building: This should be capitalized.
2. Added a new wing onto the office building: This should be capitalized.
3. Took their fleet of cars in for servicing (changing the oil, etc.).: This should be expensed.
5. Had an engine rebuilt in one of their fleet cars: This should be capitalized.
4. Added newer electronic locks on the doors in the production building: This should be expensed.
Explanation:
1. Repainted the office building: This should be capitalized. This is because repainting is a repair that will restore the physical structure of the office building and significantly improve it. Since it is a capital improvement cost, it should be capitalized and depreciated like other fixed assets.
2. Added a new wing onto the office building: This should be capitalized and depreciated like other fixed assets since it is a capital expenditure that significantly added to the structure of the office building.
3. Took their fleet of cars in for servicing (changing the oil, etc.).: This falls under repair and should be expensed.
4. Added newer electronic locks on the doors in the production building: This should be expensed. Cost of locks and keys are ordinary expenses that do not improve the physical structure of the production building.
5. Had an engine rebuilt in one of their fleet cars: This should be capitalized. It is a tangible improvement to the fleets of cars and this kind of costs fall under capital expenditures.
Answer:
Sep 11
Dr Cash 590.00
Cr Sales 590.00
Dec 31
Dr Warranty expense 59.00
Cr Estimated warranty liability 59.00
July 24
Dr Estimated warranty liability 41.00
Cr Repair parts inventory 41.00
Explanation:
Home Store Journal entry
Sep 11
Dr Cash 590.00
Cr Sales 590.00
Dec 31
Dr Warranty expense (590*10%) 59.00
Cr Estimated warranty liability 59.00
July 24
Dr Estimated warranty liability 41.00
Cr Repair parts inventory 41.00
Yeah there is not question or upload up there
Answer:
because they send the mail to you as it enter the mail or mailbox is a delivery
