Accounting for continuing expendituresVernon Manufacturing paid $58,000 to purchase a comp...

Accounting for continuing expenditures

Vernon Manufacturing paid $58,000 to purchase a computerized assembly machine on January 1, 2012. The machine had an estimated life of eight years and a $2,000 salvage value. Vernon’s financial condition as of January 1, 2015, is shown in the following financial statements model. Vernon uses the straight-line method for depreciation.

Vernon Manufacturing made the following expenditures on the computerized assembly machine in 2015.

Required

Record the 2015 transactions in a statements model like the preceding one.