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Wiater Company operates a small manufacturing facility. On January 1, 2018, an asset account for the company showed the following balances: Equipment Reeumulated Depreciation (beginning of the year) $324,000 149.000 During the first week of January 2018, the following expenditures were incurred for repairs and maintenance Routine maintenance and repairs on the equipment Major overhaul of the equipment that improved efficiency $3,450 40.000 The equipment is being depreciated on a straight-ine basis over an estimated life of 20 years with a $26,000 estimated residual value. The annual accounting period ends on December 31. Required: 1. Prepare the adjusting journal entry that would have been made at the end of 2017 for depreciation on the manufacturing equipment 2. Starting at the beginning of 2019, what is the remaining estimated life? 3. Prepare the journal entries to record the two expenditures for repairs and maintenance during 2018 Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required Prepare the adjusting journal entry that would have been made at the end of 2017 for depreciation on the manufacturing equip (Do not round intermediate calculations. If no entry is required for a transaction/event, select "No Journal Entry Required in account field.) View transaction Mal Journal entry worksheet A Record the adjusting entry for depreciation expense at year-end 2017, Oral Journal Dub Cho Wiater Company operates a small manufacturing facility. On January 1, 2018, an asset account for the company showed the following balances: Equipment Accumulated Depreciation (beginning of the year) $324,000 149,000 During the first week of January 2018, the following expenditures were incurred for repairs and maintenance: Routine maintenance and repairs on the equipment Major overhaul of the equipment that improved efficiency $ 3,450 40,000 The equipment is being depreciated on a straight-line basis over an estimated life of 20 years with a $26,000 estimated residual value. The annual accounting period ends on December 31. Required: 1. Prepare the adjusting journal entry that would have been made at the end of 2017 for depreciation on the manufacturing equipment. 2. Starting at the beginning of 2018, what is the remaining estimated life? 3. Prepare the journal entries to record the two expenditures for repairs and maintenance during 2018. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Starting at the beginning of 2018, what is the remaining estimated life? Remaining Estimated Life years Wiater Company operates a small manufacturing facility. On January 1, 2018, an asset account for the company showe the following balances Equipment Acumulated Depreciation (beginning of the year) $324,000 149.000 During the first week of January 2018, the following expenditures were incurred for repairs and maintenance Routine maintenance and repairs on the equipment Major everhaal of the equipment that improved efficiency $ 3,450 40,000 The equipment is being depreciated on a straight-line basis over an estimated life of 20 years with a $26.000 estimate residual value. The annual accounting period ends on December 31. Required: 1. Prepare the adjusting journal entry that would have been made at the end of 2017 for depreciation on the manufacturing equipment. 2. Starting at the beginning of 2018, what is the remaining estimated life? 2. Prepare the journal entries to record the two expenditures for repairs and maintenance during 2018 Complete this question by entering your answers in the tabs below. Required Required 2 Required Prepare the journal entries to record the two expenditures for repairs and maintenance during 2016. (no entry la required transaction/event, select "No Journal Entry Required in the first account field.) View transaction lit A Record the expenditure for ordinary repairs incurred > 1 Record the expenditure for extraordinary repairs incurred. Credit - alth

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