On April $1,2022,$ the KB Toy Company purchased equipment to be used in its manufacturing process. The equipment cost $$70,200,$

has an nine$-$year useful life, and has no residual value. The company uses the straight$-$line depreciation method for all manufacturing

equipment.

On January $4,2024,$$$15,900$ was spent to repair the equipment and to add a feature that increased its operating efficiency. Of the

total expenditure, $$4,000$ represented ordinary repairs and annual maintenance and $$11,900$ represented the cost of the new feature.

In addition to increasing operating efficiency, the total useful life of the equipment was extended to $11$ years.

Required:

Prepare journal entries for the depreciation for $2022$ and $2023.$

Prepare journal entry for the $2024$ expenditure. $[$Any capitalized amounts are recorded using Alternative $2-$capitalization of new

cost$].$

Prepare journal entry for the depreciation for $2024.$

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Prepare journal entries for the depreciation for $2022$ and $2023.$

Note: If no entry is required for a transaction$/$event$,$ select $"$No journal entry required" in the first account field.

Journal entry worksheet

Record the depreciation expense for $2022.$