Hulme Company operates a small manufacturing facility as a supplement to its regular service activities. Recording Depreciation and Repairs $($Straight$-$Line Depreciation$)$

Hulme Company operates a small manufacturing facility as a supplement to its regular service activities.

At the beginning of $2020,$ an asset account for the company showed the following balances:

During $2020,$ the following expenditures were incurred for the equipment:

The equipment is being depreciated on a straight$-$line basis over an estimated life of $15$ years with a

$$12,000$ estimated residual value. The annual accounting period ends on December $31.$

Required:

Give the adjusting entry that was made at the end of $2019$ for depreciation on the manufacturing

equipment.

Starting at the beginning of $2020,$ what is the remaining estimated life?

Give the journal entries to record the two expenditures during $2020.$

At the beginning of $2020,$ an asset account for the company showed the following balances

The equipment is being depreciated on a straight$-$line basis over an estimated life of $15$ years with a

$$12,000$ estimated residual value. The annual accounting period ends on December $31.$

Required:

$1.$ Give the adjusting entry that was made at the end of $2019$ for depreciation on the manufacturing

equipment.

$2.$ Starting at the beginning of $2020,$ what is the remaining estimated life?

$3.$ Give the journal entries to record the two expenditures during $2020$