ordinary repairs

What Is The Difference Between Ordinary Repairs And Extraordinary Repairs?

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What Is The Difference Between Ordinary Repairs And Extraordinary Repairs? Extraordinary repairs are capitalized expenses that increase the future deprecation of an asset over the remainder of its useful life. … Ordinary repairs, on the other hand, are expensed immediately and reported on the income statement in the current period. What is an example of

What Are Ordinary Repairs And Maintenance Recorded As?

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What Are Ordinary Repairs And Maintenance Recorded As? Ordinary repairs are simply recorded as expenses in the current accounting period, leaving the book value of the related fixed asset unchanged. Expenses are costs recorded on a company’s income statement in the period in which the cost is incurred. What are ordinary repairs and maintenance in