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You acquire a new piece of equipment for your business that costs $10,000. What is the journal entry to record the purchase if you purchased it with cash?
Your purchase a new piece of equipment for your business that costs $10,000. The journal entry to record the purchase if you purchased it with cash is: Debit, Equipment $10,000 Credit, Cash $10,000
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Asked 1/17/2015 4:21:15 PM
Updated 1/17/2015 5:21:43 PM
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Your purchase a new piece of equipment for your business that costs $10,000. The journal entry to record the purchase if you purchased it with cash is:
Debit, Equipment $10,000
Credit, Cash $10,000
Added 1/17/2015 5:21:43 PM
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Explain the differences between revenue expenditures and capital expenditures
Weegy: A capital expenditure is spent to acquire or improve a long-term asset such as equipment or buildings. The cost of capital expenditures is expensed over the period of the assets life, as depreciation. A revenue expenditure is an immediate expense, matched with current revenues. (More)
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