6. In recent years Howard Company has purchased two machines. Because of frequent employee turnover in the accounting department, a different accountant was in charge of selecting the depreciation method for each machine, and various methods have been used. Information concerning the machines is summarized in the table below. Useful Life (in years) 4 Machine 1 2 Salvage Aequired Cost Value Jan. 1, 2012 $120,000 $10,000 Aug. 1, 2013 190,000 50,000 Depreciation Method Straight-line Straight-line 02 Instructions (a) Prepare a complete depreciation schedule (all years) for Machine 1 and record the appropriate entries on Dec. 31, 2012 and Dec. 31, 2013. (Round to zero decimal places.) Computation End of Year Depreciable Cost (Historical Cost- Salvage Value) Depreciation Expense per month Number of Months Year Depreciation Expense Accumulated Depreciation Book Value Date Description Debit Credit bro (b) Prepare a complete depreciation schedule (all years) for Machine 2 and record the appropriate entries on Dec. 31, 2013 and Dec. 31, 2014. Computation End of Year Depredable Cost (Historical Cost - Salvage Value) Depreciation Expense per month Number of Months Depredation Expense Accumulated Depreciation Year Book Value co Date Description Debit Credit 7. Thieu Co. has delivery equipment purchased on May 1, 2017 that cost $150,000, has a salvage value of $50,000 and a 5-year useful life. Prepare the entry to record the sale of the equipment on December 31, 2020 for $54,000. Assume that depreciation has been recorded through the end of 2020. Date Description Debit Credit