Question

Consider each of the items below. Please the proper letter in the blank space provided to indicate the nature of the account or accounts to be debited when recording each transaction using the preferred accounting treatment. Prepayments should be recorded in balance sheet accounts. Disregard income tax consideration unless instructed otherwise. a. asset(s) only b. accumulated depreciation only c. expense only d. asset(s) and expense e. some other account or combination of accounts ____________A motor in one of North Company's trucks was overhauled at a cost of $000. It is expected that this will extend the life of the truck for two years. ____________Machinery which cost $130.000 was repaired at a cost of $4.500 for damage sustained during its installation. _____________Orlando Company recently purchased land and two buildings for a total cost of $35,000, and entered the purchase on the books.The $1, 200 cost of razing the smaller building, which has an appraisal value of $8, 200, is recorded. ___________Janzen Company traded its old machine with a net book value of $3,000 plus cash of $7,000 for new one which had a fair value of $9,000.____________ Jim Para and May Lawson, maintenance repair workers, spent five days in unloading and setting up a new $8,000 precision machine in the plant. The wages earned is this five-day period, $490, are. _______On June 1, the Minot Hotel installed a sprinkler system throughout the building at a cost of $13,000. As a result the insurance rate was decreased by 40%.__________An improvement, which extended the life but not the usefulness of the asset, cost $8,000. The antic of the administration building was finished at a cost of $3,000 to provide an additional office.__________ In March, the Lyon The stare bought projection equipment on the installable basis. The contract price was $23,000 payable $5.610 down and $2.250 a months. The cash price for this equipment was $22, 530. ________Lambert Company recorded the first year's interest on 6% insert on 0% $100,000 ten-year bonds sold a year ago at 94. The bonds were sold to finance the construction of a hydroelectric plant. Six months after the sale of the bonds the construction of the hydroelectric plant was completed and operations were beam.

Answer 1

Answer: Please refer to Explanation

Step-by-step explanation:

ACCUMULATED DEPRECIATION ONLY .A motor in one of North Company's trucks was overhauled at a cost of $000. It is expected that this will extend the life of the truck for two years.

ASSETS ONLY.Machinery which cost $130.000 was repaired at a cost of $4.500 for damage sustained during its installation.

ASSETS ONLY. Orlando Company recently purchased land and two buildings for a total cost of $35,000, and entered the purchase on the books.The $1, 200 cost of razing the smaller building, which has an appraisal value of $8, 200, is recorded.

SOME OTHER ACCOUNT OR COMBINATION OF ACCOUNTS. Janzen Company traded its old machine with a net book value of $3,000 plus cash of $7,000 for new one which had a fair value of $9,000.

ASSETS ONLY. Jim Para and May Lawson, maintenance repair workers, spent five days in unloading and setting up a new $8,000 precision machine in the plant. The wages earned is this five-day period, $490, are.

ASSETS ONLY. On June 1, the Minot Hotel installed a sprinkler system throughout the building at a cost of $13,000. As a result the insurance rate was decreased by 40%.

ACCUMULATED DEPRECIATION ONLY .An improvement, which extended the life but not the usefulness of the asset, cost $8,000.

ASSET ONLY. The antic of the administration building was finished at a cost of $3,000 to provide an additional office.

SOME OTHER ACCOUNT OR COMBINATION OF ACCOUNTS. In March, the Lyon The stare bought projection equipment on the installable basis. The contract price was $23,000 payable $5.610 down and $2.250 a months. The cash price for this equipment was $22, 530.

ASSET(s) AND EXPENSE. Lambert Company recorded the first year's interest on 6% insert on 0% $100,000 ten-year bonds sold a year ago at 94. The bonds were sold to finance the construction of a hydroelectric plant. Six months after the sale of the bonds the construction of the hydroelectric plant was completed and operations were beam.

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