eloaded because a problem occurred. Ex 8-15 Help Save & Exit Check my Martinez Company owns a building that appears on its prior year-end balance sheet at its original $690,000 cost less $517,500 accumulated depreciation. The building is depreciated on a straight-line basis assuming a 20-year life and no salvage value. During the first week in January of the current calendar year, major structural repairs are completed on the building at a $69,000 cost. The repairs extend its useful life for 5 years beyond the 20 years originally estimated. 1. Determine the building's age (plant asset age) as of the prior year-end balance sheet date. years 2. Prepare the entry to record the cost of the structural repairs that are paid in cash. View transaction list Journal entry worksheet Record the $69,000 cost of the structural repairs that are paid in cash. Note: Enter debits before credits Prev 1 of 1 I Next >