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Question 10 532 points) Global Filter Company operates a manufacturing facility where specialized electronic components are sembled for use in consumer products. They 2004 recording a full year of depreciation in the year of an assi's acquisition and ne depreciation in the year of an asset's disposal. During 2016. The following action w Occurred bude Regular repair to axterior succo and mechanical systems were incurred on January 12, a total cost of $21,000 A major structural repair to the foundation was undertaken on August 13 This repair cost $66.000 and was expected to extend the Me of the building by kytart the origine de The entire building was repainted at a cost of $15,000 on September 17. This did not extend the useful life of the bolding, but improved Va overall appearance On December 22. the existing boiler system failed and required replacement. The replacement cost of the new unit was $194,250. Management consider this to be a mercorrons but had not separately recorded the cost of the original boller, as it was included in the building purchase price. It is estimated Inflation has increased the cost of these types of aby 11 ince 2001 Prepare the entries necessary to reflect the above information in Global Filter Company's journal. Assume that will transactions were settled in cash. Also remember to record the your endomon expenses. Enter an appropriate description when entering the transactions in the journal Dates must be entered in the format ddim (January 16 would be 15.jan). Please make sure you in answer(s) are accurate to 2 decimal places Question 10 52 points) Global Fiber Company operates a manufacturing facility where specialized electronic components are assembled for use in consumer products. The facility was purchased in 2005 for a cont of 82.925,000, excluding the land component. At the time of purchase. It was believed that the building would have a usefu We of 25 years with no residual value. The company follows the policy recording all year of depreciation in the year of an assession and no depreciation in the year of an anser disposal. During 2015, the following transactions with respect to the bolding occurred Regular repairs to exterior succo and mechanical systems were incurred on January 12, ut a lotal cost of $21.000 Amal ire in the staff Kitchen caused damage that cost $6,000 to repair, was repared on May 14 Amortructural reparto the foundation was undertaken on August 13. This repar cost $60.000 and was expected to extend the use of the building by six years over the original time The entire building was repainted at a cost of $15.000 on September 17. This did not extend the useful le of the building, but improved several appearance On December 22, the existing boter system failed and required replacement. The replacement cost of the new was 3194256 Management consider this to be a major component of the building but had not separately recorded the cost of the original boiler, as it was included in the building purchase prion It is estimated inflation has increased the cost of these types of units by 11% since 2006 Prepare the entries necessary to reflect the above information in Global Filter Company's journal. Assume that will transactions were settled in cash. Also remember to record the you end depreciation expenses. Enter an appropriate description when entering the transactions in the journal Dates must be entered in the format dimme January 15 would be 15 Jan). Please make sure your final answers) are accurate to 2 decimal places Question 10 532 points) Global Filter Company operates a manufacturing facility where specialized electronic components are sembled for use in consumer products. They 2004 recording a full year of depreciation in the year of an assi's acquisition and ne depreciation in the year of an asset's disposal. During 2016. The following action w Occurred bude Regular repair to axterior succo and mechanical systems were incurred on January 12, a total cost of $21,000 A major structural repair to the foundation was undertaken on August 13 This repair cost $66.000 and was expected to extend the Me of the building by kytart the origine de The entire building was repainted at a cost of $15,000 on September 17. This did not extend the useful life of the bolding, but improved Va overall appearance On December 22. the existing boiler system failed and required replacement. The replacement cost of the new unit was $194,250. Management consider this to be a mercorrons but had not separately recorded the cost of the original boller, as it was included in the building purchase price. It is estimated Inflation has increased the cost of these types of aby 11 ince 2001 Prepare the entries necessary to reflect the above information in Global Filter Company's journal. Assume that will transactions were settled in cash. Also remember to record the your endomon expenses. Enter an appropriate description when entering the transactions in the journal Dates must be entered in the format ddim (January 16 would be 15.jan). Please make sure you in answer(s) are accurate to 2 decimal places Question 10 52 points) Global Fiber Company operates a manufacturing facility where specialized electronic components are assembled for use in consumer products. The facility was purchased in 2005 for a cont of 82.925,000, excluding the land component. At the time of purchase. It was believed that the building would have a usefu We of 25 years with no residual value. The company follows the policy recording all year of depreciation in the year of an assession and no depreciation in the year of an anser disposal. During 2015, the following transactions with respect to the bolding occurred Regular repairs to exterior succo and mechanical systems were incurred on January 12, ut a lotal cost of $21.000 Amal ire in the staff Kitchen caused damage that cost $6,000 to repair, was repared on May 14 Amortructural reparto the foundation was undertaken on August 13. This repar cost $60.000 and was expected to extend the use of the building by six years over the original time The entire building was repainted at a cost of $15.000 on September 17. This did not extend the useful le of the building, but improved several appearance On December 22, the existing boter system failed and required replacement. The replacement cost of the new was 3194256 Management consider this to be a major component of the building but had not separately recorded the cost of the original boiler, as it was included in the building purchase prion It is estimated inflation has increased the cost of these types of units by 11% since 2006 Prepare the entries necessary to reflect the above information in Global Filter Company's journal. Assume that will transactions were settled in cash. Also remember to record the you end depreciation expenses. Enter an appropriate description when entering the transactions in the journal Dates must be entered in the format dimme January 15 would be 15 Jan). Please make sure your final answers) are accurate to 2 decimal places