Answer :
Please note that these journal entries are provided as examples based on the information provided. The actual journal entries may vary based on specific accounting practices and policies of TT Company. Journal entries for the transactions in 20X4:
1. Purchase of new machine:
Equipment (machine) 24,500
Accounts Payable 24,500
(To record the purchase of a machine at list price)
2. Payment of shipping cost:
Equipment (machine) 180
Cash 180
(To record the payment of shipping cost)
3. Payment of installation cost:
Equipment (machine) 540
Cash 540
(To record the payment of installation cost)
4. Cost of moving the wall:
Building Improvements 630
Cash 630
(To record the cash cost of moving the wall)
5. Cost allocation for machine components:
Equipment (engine) 1,000
Equipment (machine) Balance of cost
(To allocate the cost between the engine and the general machine)
6. Purchase of automatic counter:
Equipment (counter) 378
Cash 378
(To record the purchase of the automatic counter)
7. Purchase of plant fixtures with a note payable:
Plant Fixtures 2,550
Cash 850
Notes Payable Balance of cost
(To record the purchase of plant fixtures with cash and a note payable)
8. Repair of machine and payment of idle operator:
Repairs and Maintenance Machine cost
Wages Expense 465
Cash 465
(To record the repair of the machine and payment to the idle operator)
9. Exchange of electric motor:
Equipment (motor) 1,020
Accumulated Depreciation Depreciation expense
Cash 680
Equipment (motor) Market value
(To record the exchange of the electric motor)
It is recommended to consult with a professional accountant or refer to the company's accounting guidelines for accurate and specific journal entries.
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