540 Chapter 10 Acquisition and Disposition of Property Plant, and Equipment during 2017. with no that following transactions occurred basis, of and 5% on on a straigh and no depreciation depreciation of 10% per year is charged on all machinery assets red during the year mated salvage va Depreciation is charged for a full year on all fixed acqui charged on fixed assets disposed of during the year. The wrecking contractor was paid s5,100 building that cost $132,000 in 2000is tom down to make room for a new building. plant. Freight of S300 is paid on the Mar 10 was that to keep all 2010 sl6000 is sold for s2900 cash, fo.b. purchaser's replacement does not extend the permitted materials salvaged. Mar 20 Agear breaks on a machine that cost so oooin 2009 The gear is replaced at a cost of $2,000. The May 18 useful life the machine but does make the machine more efficient replaced at a cost of s5,500 becau A special base installed for a machine in 2011 when the machine was purchased has to be defective workmanship on the original base. The cost of the machinery was $14200 in 2011. The cost of the base was $3,500 and amount was charged to the Machinery account in 2011. this June 23 One of the buildings is repainted at a cost of S6,900. It had n Instructions Prepare general journal entries for the transactions. (Round to the nearest dollar) E10.23 (LO5) (Analysis of subsequent Expenditures) Plant assets often require expenditures subsequent to acquisition important that they be accounted for properly Any errors will affect both the balance sheets and income statements for a of years. ructions ach of the following items, indicate whether the expenditure should be capitalized (C) or expensed (E) in the period Improvement. Replace of a minor broken nart on