Answer the following:

Accounting for Subsequent Costs and Revaluation Model SUBSEQUENT COSTS During the current year, Quean Company made the following expenditures. Determine whether the item is a capital expenditure or revenue expenditure. Capital Expenditure Revenue Capitalized as Expenditure asset) [recognized as expense in the period incurred Continuing and frequent repairs on a plant building 400,000 Repainting of the plant building 100,000 Major improvements to the electrical wiring system of the plant building 300,000 Partial replacement of roof tiles on the plant building 150,000 Major replacement of the motor of a machine. This replacement was 500,000 anticipated when the machine was purchased Dust filters in the interior of the plant building were replaced. The new filters 800,000 are expected to reduce employee health hazards, Service contract on office equipment 100,000 Initial design fee for proposed extension of office building 150,000 New condenser for central air conditioning unit 10,000 Purchase of executive chairs and desks 200,000 Purchase of storm windows and screens and their installation on all office 500,000 windows Sealing of roof leaks in production area 80,000 Replacement of door to production area 50,000 Installation of automatic door-opening system 200,000 Overhead crane for assembly department to speed up production 350,000 Replacement of broken gear on machine 60,000 A shatter proof glass is substituted for ordinary glass in the plant building 300,000 Cost of relocating an equipment from its current location 20,000 Repair on the machinery. It is expected that this repair will extend the useful 50,000 life of the asset. TOTAL REVALUATION MODEL Hilarious Company provided the following data pertaining to a machinery on January 1, 2019 Cost of Machinery 4.500,000 Original residual value 500.000 Accumulated Depreciation 2.400.000 Age of Asset 3 years The entity revalued the machinery on December 31, 2019 and made the following changes in estimates: a. The revised residual value is 300,000. b. The estimated useful life is 6 years from date of acquisition. Required: 1. Provide the depreciation entry in 2019. 2. Assuming the replacement cost on December 31, 2019 is P6,000,000, prepare the journal entry to record the revaluation under: a. Proportional Approach. Elimination Approach. 3. Assuming the fair value on December 31, 2019 is P1,800,000, prepare the journal entry to record the revaluation under: Proportional Approach Elimination Approach. 4. Compute the carrying amount of the machinery on December 31, 2019. 5. Provide the depreciation entry in 2020. 3. Compute the carrying amount of the machinery on December 31, 2020. 7. Provide the entry on the piecemeal realization of the revaluation surplus in 2020. 8. Assuming the machinery was sold on July 1, 2021 at P250,000, give the entry to record the sale