Question: ( e ) On November 1 , 2 0 1 8 it was determined that the snow - making machine needed a complete overhaul of

(e) On November 1,2018 it was determined that the snow-making machine needed a complete overhaul of some major parts. The overhaul cost $250,000 and is expected to extend the total useful life to 9 years. The snow-making machine is expected to now have a residual value of $40,000. Assume that the owner decided to depreciate the snow-making machine using the straight line method.
(i) Journalize the overhaul. [1]
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(ii) Calculate the new depreciation amount for the year ended October 31,2019.[3]
(f) On April 1,2019 the company sold their computer system for $350,000 so they could upgrade to a newer model. Journalize the sale of the computer system. [6]
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( e ) On November 1 , 2 0 1 8 it was determined

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