Cavani Oil Company replaces the blowout preventer in one of its oil rigs. The new...
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Cavani Oil Company replaces the blowout preventer in one of its oil rigs. The new preventer has a price of $878,000. The old preventer has an original cost of $730,000 and accumulated depreciation of $686.000 Cavani gave the old preventer and $805.000 cash for the new preventer what is the effect of the entry to record the replacement on total assets? Multiple Choice O Decrease of $44.000 Increase of $29,000 Decrease of $75.000 O Increase of $73.000
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