Instead of repairing the heavy duty shop hoist at a cost of $1,210.00 and charging this cost to an operating expense account, the hoist, which has one year remaining in its estimated useful life, is completely overhauled at a cost of $3,260.00. This overhaul, which is an extraordinary repair, will be charged directly to the Shop Equipment account and will extend the remaining useful life of the hoist to four years. Check Number: 31222. Invoice Number: EXTRA (for extraordinary repair)