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On April 1, 2019, the KB Toy Company purchased equipment to be used in its manufacturing process. The equipment cost $48,000. has an eight-year useful

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On April 1, 2019, the KB Toy Company purchased equipment to be used in its manufacturing process. The equipment cost $48,000. has an eight-year useful life, and has no residual value. The company uses the straight-line depreciation method for all manufacturing equipment On January 4, 2021, $12,350 was spent to repair the equipment and to add a feature that increased its operating efficiency of the tota expenditure, $2,000 represented ordinary repairs and annual maintenance and $10,350 represented the cost of the new feature. In addition to increasing operating efficiency, the total useful life of the equipment was extended to 10 years. Required: 1. Prepare journal entries for the depreciation for 2019 and 2020. 2. Prepare journal entries for the 2021 expenditure. 3. Prepare journal entries for the depreciation for 2021 Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Prepare journal entries for the depreciation for 2019 and 2020. (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 Record the depreciation expense for 2019. Note: Enter debits before credits General Journal Debi Credit Date December 31 2019 Record entry Cherry View general Journal Required 2 > Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Prepare journal entries for the depreciation for 2019 and 2020. (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 1 2 Record the depreciation expense for 2020. Norter des before credits General Journal Debat Crede Date December 31 2020 Record Care View general journal Required) Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Prepare journal entries for the 2021 expenditure. (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 purus TU RUTTIVA. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Prepare journal entries for the depreciation for 2021. (If no entry is required for a transaction/ev the first account field.) 8.27 View transaction list Journal entry worksheet

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