During 2018, Trained Hospital received $90,000 in third-party reimbursements for depreciation.These reimbursements were restricted as follows:For replacement of fully depreciated equipment . . . . . . . . . . . . . . $25,000For additions to property . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 65,000What amount of these reimbursements should Trained include in revenues for the year ended December 31, 2018? a. $0 b. $25,000 c. $65,000 d. $90,000

Colorado Pte Ltd commenced its first non-structural renovation works in accounting year 2017 at the cost of $120,000 and incurred a further $70,000 in accounting year 2018.  In accounting year 2019, it upgraded its reception area and spent $250,000 on non-structural renovation costs. What is the amount deductible under Section 14Q in Year of Assessment 2020? Group of answer choices $100,000 $36,667 $116,667 $70,000

McClain Company incurred the following expenditures during 2019: Apr. June Sept. Dec. 9 The air conditioning system in the old manufacturing facility was replaced for $80,000. The old air conditioning system had a cost of $71,750 and a book value of $1,700. The old air conditioning system had no scrap value. 29 Annual maintenance of $39,500 was performed. 12 The roof of the old manufacturing facility is replaced at a cost of $68,000. This expenditure substantially extended the life of the facility. 28 A new wing was added to the manufacturing facility at a cost of $261,000. This expenditure substantially increased the productive capacity of the plant. Required: 1. Prepare journal entries to record McClain's expenditures for 2019. 2. Next Level What is the effect on the financial statements if management had improperly accounted for the: a. addition of the new wing to the manufacturing facility b. annual maintenance expenditures