1 15 POINTS ABC COMPANY ACQUIRED HEAVY MECHINERY AT A COST OF 70,000.00 IN OCTOBER 1, 2017. THE MECHINERY WAS EXPECTED TO PROVIDE 10,000 MECHINE HOURS OF SERVICE FOR FIVE YEARS, AFTER WHICH IT CAN BE SOLD FOR APPROXIMATELY $ 10,000.00. ACTUAL MECHINE OPERATING HOURS DURING THE FIRST SIX YEARS WERE AS FOLLOWS: 500, 2100,2000,2500,2000 AND 900. INSTRUCTIONS: COMPUTE DEPRECITION FOR THE FIVE YEARS USING THE FOLLOWING DEPRECTIATION METHODS: 1.STRAIGHT LINE 2.SERVICE QUANTITY-MECHINE HOURS 3. DOUBLE DECLING METHOD. PROBLEMS: 2 15 POINTS ON JULY 1, 2017 SNYDER COMPANY PURCHASED A NEW CAR FOR $ 25,000.00 THE COMPANY DEPRECIATED THIS CAR UNDER THE FOLLOWING ASSUMPTION: LIFE: 5 YEARS SALVAGE VALUE: 5000.00 METHOD OF DEPRECIATION: DOUBLE DECLINING BALANCE INSTRUCTIONS: PREPARE JOURNAL ENTRY UNDER THE FOLLOWING ASSUMPTIONS: A. ON APRIL 1,2019 COMPANY SOLD THIS CAR FOR 11,000.00 B.ON APRIL 1, 2019 COMPANY TRADED THIS CAR FOR A NEW CAR. THE NEW CAR HAS A CASH PRICE PRICE 22000.00. THE COMPANY PAID 14,000 CASH FOR THE NEW CAR. C.ON APRIL1,2019 COMPANY TRADED THIS CAR FOR A NEW CAR. THE NEW CAR HAS A CASH PRICE PRICE 24000.00. THE COMPANY PAID 10,000 CASH FOR THE NEW CAR