Reductions of accumulated depreciation


1.The heating system was replaced at a cost of $220,000. The cost of the old system was not known. The company accounts for improvements as reductions of accumulated depreciation.

2.A new wing was added at a cost of $810,000. The new wing substantially increases the productive capacity of the plant.
3. Annual building maintenance was performed at a cost of $18,500.

4.All of the machinery on the assembly line in the plant was rearranged at a cost of $48,000. The rearrangement clearly increases the productive capacity of the plant.

Required:

Prepare journal entries to record each of the above expenditures. (If no entry is required for a particular event, select "No journal entry required" in the first account field.)

Request for Solution File

Ask an Expert for Answer!!
Accounting Basics: Reductions of accumulated depreciation
Reference No:- TGS0670651

Expected delivery within 24 Hours