$1.$ Feng Company installs a computerized manufacturing machine in its factory at the beginning of the year at a cost of $$42,300.$ The machines useful life is estimated at $10$ years, or $363,000$ units of production. It has a $$6,000$ residual value. During itssecond year, the machine produces $35,000$ units. Determine the machine's second year depreciation under the straight line method. $2.$ Using the above information, determine the machine's second year depreciation using the units of production method. $3.$ Using the above information, determine the machine's second year depreciation using the double decline balance method. $4.$ On April $1,2014,$ Stone's Backhoe Company purchases a new machine for $$250,000.$ The machine is expected to last five years, and have a residual value of $$25,000.$ Compute the depreication expense for both $2014,$ and $2015$ assuming the company uses the straight line method. $5.$ Using the information above, compute the depreciation expense for both $2014$ and $2015$ assuming the company uses the double decline balance method. $6.$GBSB pays $$440,000$ for real estate plus $$23,320$ in closing costs. The real estate consists of land appraised at $$180,400,$ land improvements at $$82,000$ and a building appreaised at $$147,6000.$ Allocate the total cost among the three purchased assets. $7.$GBSB Manufacturing purchases a large lot on which an old building is located as part of its plans to build a new campus. The negotiated purchase price is $$252,000$ for the lot plus $$147,000$ for the old building. GBSB pays $$27,600$ to tear down the old building and $$40,800$ to fill and level the lot. It also pays a total of $$1,494,751$ in construction costs $-$ this amount consists of $$1,406,000$ for the new building and $$88,751$ for lighting and paving a parking area next to the building.

Prepare journal entries to record these costs incurred by GBSB$,$ all of which are paid in cash.