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just number 4, unless a mistake is found Stacey Company operates a small manufacturing facility as a supplement to its regular service activities. At the
just number 4, unless a mistake is found Stacey Company operates a small manufacturing facility as a supplement to its regular service activities. At the beginning of 2021, an asset account for the company showed the following balances Manufacturing equipment Accumulated depreciation through 2020 $59,800 33,000 In early January 2021, the following expenditures were incurred for repairs and maintenance: Routine maintenance and repairs on the equipment Major overhaul of the equipment 900 11,000 The equipment is being depreciated on a straight-line basis over an estimated life of 10 years, with a $4,800 estimated residual value. The company's fiscal year ends on December 31 Required: 1. Calculate the depreciation expense for the manufacturing equipment for 2020. Depreciation expenso $ 5,500 2. Prepare the journal entries to record the two expenditures that occurred during 2021. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet
just number 4, unless a mistake is found
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