Suppose a machine costing Br. 35,000 had no estimated residual value and an original estimated useful life of ten years, has been depreciated for 7 years. At the very beginning of the 8th year, the machine was given a major overhaul costing Br. 3000. This expenditure extended the useful life of the machine 3 years beyond the original estimate. Based on the above information, determine the following: A. Show the entry to record extra ordinary repair B. Calculate the new book value after extra ordinary repair C. Determine the revised (after extra ordinary repair) useful life of the machine D. Determine the revised (after extra ordinary repair) annual depreciation
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