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Expenditures After Acquisition Roanoke Manufacturing placed a robotic arm on a large assembly machine on January 1. At that time, the assembly machine was expected to last another 3 years. The following information is available concerning the assembly machine Cost, assembly machine $750,000 Accumulated depreciation, Jan. 1 400.000 The robotic arm coat 3210,000 and was expected to extend the useful life of the machine by 3 years. Therefore, the useful le of the assembly machine, atter the arm replacements 6 years. The assembly machine is expected to have a residual value of $114,000 at the end of its useful the Required: 1. Prepare the journal entry necessary to record the addition of the robotic arm. 1 an amount box does not require an entry, leave it blank 1 Equipment 210.000 Cash 210.000 TO Wor Capital expenditures increase the future economic benefits of an asset by extending the useful to Increasing efficiency, or improving the quality of the product. They are capital as part of the t. Revenue expenditures do not increase the future economic benefits of the esset. They are expensed in the current period. 2. Compute the revised amount of depreciation expense for the machine using the straight-line method 50,000 X TO 60,000 X Feedback Check My Work Incorrect Prepare the necessary journal entry to record depreciation expense. If an amount box does not require an entry leave it blank. Dec. 31 Depreciation Expense 60,000 x Accumulated Depreciation 60,000 x Feedback Check My Work Straight-line depreciation allocates the depreciable cost over the useful life of the asset 3. What is the book value of the machine at December 312 Feedback Check My Work Book value = Cost - Accumulated Depreciation