Question

June 23 La machine in 2014 when the machine washa cost of $5.500 because of defective w h e Cost of the machinery was $14.200 in 2014. The con of the this amount was charged to the Machinery account in 2014 One of the buildings is repainted at a cost of $6.900 had not been a constructed in 2016. this amo of the machof $5.500 cons of the buildicharged Instructions Prepare general journal entries for the transactions. (Round to the nearest dollar E10.23 (LO 4) (Analysis of Subsequent Expenditures) Plant sets often te subsequent to acquisition. It is important that they be accounted for properly. Any Tots W the balance sheets and income statements for a number of years. anted.com Instructions For each of the following items, indicate whether the expenditure should be capitalized cocok (E) in the period incurred. Improvement. Replacement of a minor broken part on a machine. Expenditure that increases the useful life of an existing asset. Expenditure that increases the efficiency and effectiveness of a productive asset but does not increase its salvage value. Expenditure that increases the efficiency and effectiveness of a productive asset and increases the asset's salvage value. Expenditure that increases the quality of the output of the productive asset. Improvement to a machine that increased its fair market value and its production - pacity by 30% without extending the machine's useful life. Ordinary repairs. TIN (05) (Entries for Disposition of Assets) On December 31, 2020, Tritt Inc. has a machine wil imulated depreciation at this date are as follows

Answer 1

Answer:

Capitalized – C

Expensed - E

Improvement	C
Replacement of a minor broken part of a machine	E
Expenditure that increases the useful life of an existing asset	C
Expenditure that increases the efficiency and effectiveness of a productive asset but does not increase its salvage value	C
Expenditure that increases the efficiency and effectiveness of a productive asset and increases the asset’s salvage value	C
Expenditure that increases the quality of the output of the productive asset	C
Improvement to a machine that increased its fair market value and its production capacity by 30% without extending the machine’s useful life	C
Ordinary repairs	E