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# Please provide information on how to process computing and revising depreciation; revenue and capital expenditures.

Please provide information on how to process computing and revising depreciation; revenue and capital expenditures.  A sample template or the link to a similar problem from the solution library would be helpful.
Fundamental Accounting Principals, 18th Edition
Wild, Larson, Chiappetta, McGraw-Hill Irwin
Problem 10-3A:  Computing and revising depreciation; revenue and capital expenditures.
Champion Contractors completed the following transactions and events involving the purchase and operation of equipment in its business.
2007
Jan.  1   Paid \$287,600 cash plus \$11,500 in sales tax and \$1,500 in transportation (FOB
shipping point) for a new loader.  The loader is estimated to have a four-year life
and a \$20,600 salvage value.  Loader cost are recorded in the Equipment account.
Jan.  3   Paid \$4,800 to enclose the cab and install air conditioning in the loader to enable
operations under harsher conditions.  This increased the estimated salvage value
of the loader by another \$1,400.
Dec. 31 Recorded annual straight-line depreciation on the loader.
2008
Jan.  1  Paid \$5,400 to overhaul the loader's engine, which increased the loader's
estimated useful life by two years.
Feb. 17 Paid \$820 to repair the loader after the operator backs it into a tree.
Dec. 31 Recorded annual straight-line depreciation on the loader.
Required:  Prepare journal entries to record these transactions and events.

Fundamental Accounting Principals, 18th Edition
Wild, Larson, Chiappetta, McGraw-Hill Irwin
Problem 10-3A: Computing and revising depreciation; revenue and capital
expenditures.
Champion Contractors completed the following transactions and events
involving the purchase and operation of equipment in its business.
2007
Jan. 1 Paid \$287,600 cash plus \$11,500 in sales tax and \$1,500 in
transportation (FOB
to have a four-year life
and a \$20,600 salvage value. Loader cost are recorded in
the Equipment account.
Jan. 3 Paid \$4,800 to enclose the cab and install air conditioning in
operations under harsher conditions. This increased the
estimated salvage value
of the loader by another \$1,400.
Dec. 31 Recorded annual straight-line depreciation on the loader.
2008
Jan. 1 Paid \$5,400 to overhaul the loaderâs engine, which increased
estimated useful life by two years.
Feb. 17 Paid \$820 to repair the loader after the operator backs it into
a tree.
Dec. 31 Recorded annual straight-line depreciation on the loader.
Required: Prepare journal entries to record these transactions and
events.

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