1. On 12/15/21 Alico inc. purchased a new Henschel mixer for $250,000 The company spent an additional $30,000 to install it. On 1/1/22 the mixer went into operation. The mixer has a physical life of 12 years and at that time it would have a salvage value $5,000. The company has a policy of replacing all of its mixers at the end of eight years and at that point in time the Henschel mixer will have a salvage value of $12,000. The company depreciates all of its equipment utilizing the 200% double declining balance method.

Required:

a. Make the required journal entry on 12/31/22 to record depreciation.

DATE	ACCOUNT	DR	CR
12/31/22	Depreciation Expense
	Accumulated Dep.

b. Make the required journal entry on 12/31/23 to record depreciation.

DATE	ACCOUNT	DR	CR

c. Make the required journal entry on 12/31/23 to record depreciation.

DATE	ACCOUNT	DR	CR