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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 company's accounts show that the building originally cost $960.000; and accumulated depreciation wa" $640,000 at the beginning of the current year, During the current year, expenditures relating to the plant building are made, Return to course LLIONS . Round your answers to the nearest whole number Record debit accounts in alphabetical order using the first letter of the account name. Cr. 1. Continuing, frequent and low cost repairs: $54.400 Account Name Repair Expense Cash Dr. 54,400 51.400 2. Added a new storage shed attached to the building; estimated useful life of 8 years: $115,200 Account Name Dr. Cr. Building 115.200 0 Carch 119,200 3. Removed roof with original cost $128,000; replaced it with guaranteed, modern roof: $160,000 Account Name Dr. Accumulated Depreciation 0 O Building 120.000 To remove ok ront . X + x O OX To record new roat. Cr. 4. Unusual and infrequent repairs due to damage from fload; repairs did not increase the use, value, or the economic life of the asset: $19,200 Account Name Dr. Hegal expense 19.200 Cash 19,200 5. Complete overhaul of the plumbing system (old costs unknown): $40,000 Account Name Dr. Cr. 40.000 40.000 + X Cash
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