Question

Required information PA9-3 Analyzing and Recording Long-Lived Asset Transactions with Partial-Year Depreciation (LO 9-2, LO 9-3, LO 9-6) [The following information applies to the questions displayed below] Precision Construction entered into the following transactions during a recent year 2 Purchased a bulldozer for $258,000 by paying $24,000 cash and signing a $234,000 note due in five years. 3 Replaced the steel tracks on the bulldozer at a cost of $24,000, purchased on account. The new steel tracks increase the bulldozer's operating efficiency January January January 30 Wrote a check for the amount owed on account for the work completed on January 3. 1 Repaired the leather seat on the bulldozer and wrote a check for the full $1,200 cost. 1 Paid $6,000 cash for the rights to use computer software for a two-year period. February March PA9-3 Part 1-a Required: 1-a. Complete the table below, for the above transactions. (Enter any decreases to Assets, Liabilities, or Stockholders Equity with a minus sign.) Date January 02 Assets Liabilities Stockholders' Equity January 03 January 30 February 01 March 01

Answer 1

Table

date	Assets		=	Liabilities		+	Stockholder's equity
Jan 2	Equipment	258000		Notes payable	234000
	Cash	-24000
Jan 3	Equipment	24000		Account payable	24000
Jan 30	bank	-24000		Account payable	-24000
Feb 1	Bank	-1200					Repairs and maintenance expense	-1200
Mar 01	Computer software	6000
	Cash	-6000