$($a$)$

Shamrock paid $$45,000$ to replace part of the factory floor. The floor had been capitalized as part of the factory building when it

was purchased ten years previously and was not considered a separate component. When purchased, the building had been

assumed to have a $30-$year useful life and was being depreciated on a straight$-$line basis. At the time of the floor replacement, the

building had been depreciated for $10$ years. Shamrock estimated that the original cost of the floor would have been $15\%$ cheaper

than the new replacement, due to inflation.

Prepare the journal entries to record these transactions, assuming Shamrock follows IFRS. $($Credit account titles are automatically

indented when the amount is entered. Do not indent manually. If no entry is required, select $"$No Entry" for the account titles and enter $0$ for

the amounts. List all debit entries before credit entries.$)$

Account Titles and Explanation

Debit

Credit

$($To record new factory floor.$)$

$($To record removal of the old floor from the building.$)$