The plant asset accounting records of Reston Company reflected the following at the beginning of the current year.

Plant building (residual value, $30,000; estimated useful life, 20 years)	$150,000
Accumulated depreciation, plant building	90,000
Equipment (residual value, $35,000; estimated useful life, 10 years)	180,000
Accumulated depreciation, equipment	90,000

During the current year ending December 31, the following transactions (summarized) relating to the above accounts were completed.
1. Expenditures for nonrecurring, relatively large repairs that tend to increase economic utility but not the economic lives of assets follow.

Plant building	$45,000
Equipment	15,000
Replacement of original electrical wiring system of plant building
(original cost, $18,000, 75% depreciated)	29,000

2. Additions follow.

Plant building—added small wing to plant building to accommodate new equipment acquired; wing has useful life of 18 years and no residual value	$54,000
Equipment—added special protection devices to 10 machines; devices are attached to the machines and have to be replaced every five years (no residual value)	10,000

3. Outlays for maintenance, parts, and labor to keep assets in normal working condition follow.

Quarter	Plant Building	Equipment
1	$1,600	$1,900
2	1,800	6,100
3	1,600	1,000
4	2,000	10,000

Prepare the necessary journal entries to record transactions 1, 2, and 3.

• Note: List multiple debits or credits (when applicable) in alphabetical order

 

Account Name Dr. Cr. 1. To record expenditure for building and equipment To record disposal of original electrical wiring system To record new electrical wiring .system To record small wing to plant building To record protection devices 3. 2.