Recording Subsequent Expenditures The plant building of Xon Corporation is old (estimated remaining useful life is 12 years) and needs continuous maintenance and repairs The companys accounts show that the building originally cost $480,000 and accumulated depreciation was $320,000 at the beginning of the current year During the current year, expenditures relating to the plant building are made Prepare the journal entry to record each of the following expenditures , assuming all items are paid in cash Instructions Round your answers to the nearest whole number Record debit accounts in alphabetical order using the first letter of the account name 1 Continuing, frequent, and low cost repairs $27,200 Account Name Dr Cr 2 Added a new storage shed attached to the building estimated useful life of 8 years $57,600 Account Name Dr Cr 3 Removed roof with original cost, $64,000 replaced it with guaranteed, modern roof $80,000 Account Name Cr Dr To remove old roof To record new roof 4 Unusual and infrequent repairs due to damage from flood repairs did not increase the use, value, or the economic life of the asset $9,600 Account Name Dr Cr 5 Complete overhaul of the plumbing system (old costs unknown) $20,000 Account Name Dr Cr Check

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Recording Subsequent Expenditures The plant building of Xon Corporation is old (estimated remaining useful life is 12 years) and needs continuous maintenance and repairs. The

Recording Subsequent Expenditures

The plant building of Xon Corporation is old (estimated remaining useful life is 12 years) and needs continuous maintenance and repairs. The companys accounts show that the building originally cost $480,000; and accumulated depreciation was $320,000 at the beginning of the current year. During the current year, expenditures relating to the plant building are made.

Prepare the journal entry to record each of the following expenditures , assuming all items are paid in cash. Instructions

Round your answers to the nearest whole number
Record debit accounts in alphabetical order using the first letter of the account name.

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1. Continuing, frequent, and low-cost repairs: $27,200 Account Name Dr. Cr. 2. Added a new storage shed attached to the building; estimated useful life of 8 years: $57,600 Account Name Dr. Cr. + 3. Removed roof with original cost, $64,000; replaced it with guaranteed, modern roof: $80,000 Account Name Cr. Dr. To remove old roof. . To record new roof. 4. Unusual and infrequent repairs due to damage from flood; repairs did not increase the use, value, or the economic life of the asset: $9,600 Account Name Dr. Cr. 5. Complete overhaul of the plumbing system (old costs unknown): $20,000 Account Name Dr. Cr. Check