included are the answers available for each question

Sherman, Inc., uses the calendar year as its reporting period. During Year 1, the company completed numerous property, plant, and equipment transactions. In particular, Sherman, Inc., incurred long-term debt to build a new warehouse storage facility at its current location. An unrelated building contractor managed the new warehouse construction project. Sherman, Inc., has a policy of capitalizing expenditures with a unit cost of at least $1,000 and a useful life greater than 1 year. The company prorates depreciation expense in the year of acquisition based on the date of purchase. Sherman, Inc., had the following property, plant, and equipment transactions during the year. For each transaction, select from the option list provided the correct account treatment. Each accounting treatment may be used once, more than once, or not at all. Asset Cost Accounting treatment Capitalize and depreciate Expense at time incurred Capitalize and depreciate 1. Cost of parking lot for new $8,500.00 warehouse 2. Painting all of the ceiling tiles in the hallways and $8,500.00 common areas of the property. 3. Replace the cooling system in the company's current $33,000.00 facility with a more modern and fuel efficient model. 4.15 new desktop computers $22,500.00 for support personnel 5. New process costing software - this software will $12,000.00 need to be replaced in S years 6. Replacing office windows cracked as a result of an $16,000.00 explosion at a neighboring manufacturing plant Expense monthly Capitalize and amortize Partially capitalize and partially expense O Capitalize and depreciate O Capitalize, but do not depreciate O Capitalize and amortize O Expense at time incurred O Expense monthly O Partially capitalize and partially expense