7 Required information PB9-1 (Algo) Computing Acquisition Cost and Recording Depreciation under Three Alternative Methods LO 9-2, LO 9-3 (The following information applies to the questions displayed below) At the beginning of the year. Goldenrod Corporation bought a shed, a machine, and a trates The shed witially cost $20,000 but had to be renovated at a cost of $640. The shed was expected to let 7 years, with residual value of $1700. Repairs costing $460 were incurred at the end of the first year of use The machine cost $1500 and is estimated to have a total inte of 40,000 hours and residual value of $900. The machine was actually used 2.000 hours in year 1 and 4000 hours in year 2 The trailer cost $11,000 and was expected to last 4 years, with a residuel velue of $2,000 PB9-1 (Algo) Part 1 Required: 1. Compute the amount to be capitalized for the shed Tall S& Homewo 8 Required information P09-1 (Algo) Computing Acquisition Cost and Recording Depreciation under Three Alternative Methods (LO 9-2,10 9.3) At the beginning of the year Grid Corporation bought a shed, a machine, and tra The shedintiety cost $20,000 but had to be renoveted at a cost of $640 The shed was expected to last 7 years, with a residue of $1700 Repers ng $400 were incumed at the end of the first year of use The mac 000 anted to have a fe of 40.000 actually used 2.000 hours in year 1 and 4.000 hours in year 2 s and residual of $900. The The $1.000 and we expected to 4 years, with a rest value of $2.000 PO9-1 (Alge) Part 2 2. Computerine cation expense for eve shed and prepare the journal entry to record it. I "No Journal Entry Required" in the Best account field) Journal entry worksheet Only Homework P 9 Required information PB9-1 (Algo) Computing Acquisition Cost and Recording Depreciation under Three Alternative Methods [LO 9-2, LO 9-3] [The following information applies to the questions displayed below) At the beginning of the year, Goldenrod Corporation bought a shed, a machine, and a trailer The shed inly cost $20.800 but had to be renovated at a cost of $640. The shed was expected to last 7 years, with a residual value of $1,700 Repairs costing $460 were incurred at the end of the first yew of use. The machine cost $11500, and is estimated to have a total life of 40.000 hours and residual value of $900. The machine was actually used 2.000 hours in year 1 and 4,000 hours in year 2 The trater cost $1,000 and was expected to last 4 years, with a residual value of $2,000 PB9-1 (Algo) Part 3 3. Compute year 2 units-of-production depreciation expense for the machine. (Do not round intermediate calculations.) Help Save & 10 11 Computing Acquisition Cost and Recording Depreciation under Three Alternative Methods 209-2, 109-3) At the begining of the year. Guderrod Corporation bought a shed, amach, and a tre The red ty con $20.800 but had to be removed at a cost of $640. The shed wes expected to last 7 years, with a $1700 Repers costing $400 were incurred at the end of the first year of use the machine cost $11.500, end is estimated to have a total she of 40.000 hours and residual value of $900. The machine 2,000 hours in year 1 and 4000 hours in year 2 The $1000 and we expected to last 4 years, with residual value of $2,000 PB9-1 (Alge) Part 4 4. Prepare the journal entry to secard year 2 units of production depreciation expense for the machine. Do not round intermediate calculations ne entry is required for a transaction/event, select "No Journal Entry Required in the first account field) Journal entry worksheet 1 Dit Codi + 11 Required information PB9-1 (Alge) Computing Acquisition Cost and Recording Depreciation under Three Alternative Methods [LO 9.2, LO 9.3] (The following information applies to the questions displayed below] At the beginning of the year Goldenvod Corporation bought a shed, a machine, and a trailer The shed intally cost $20,000 but had to be renovated at a cost of $640 The shed was expected to last 7 years, with a residual value of $1700 Repairs costing $460 were incurred at the end of the first year of use The machine cost $1500, and is estimated to have a total she of 40,000 hours and residual value of $900. The machine was actually used 2.000 hours in year 1 and 4.000 hours in year 2 The trailer cost $11.800 and was expected to last 4 years, with a residual value of $2.000 PB9-1 (Algo) Part 5 5. Compute years 1 and 2 double-declining balance depreciation expense for the trailer Denga 12 Required information PB9-1 (Alge) Computing Acquisition Cost and Recording Depreciation under Three Alternative Methods LO9-2 10 9-3 The towing information applies to the questions dyed belo At the beginning of the year, Goldenrod Corporation sought a shed a machine, and a traile The shed initaly cost $20.800 but had to be renovated at a cost of $640 The shed was expected so ist 7 years, we a residual value of $1700 eps costing $460 were incurred at the end of the Srst year of us The machine co $500, wt is estimated to heal the of 40,000 hours and residual value of 1000. The machine wes actually used 2,000 hours in year 1 and 4,000 hours in year The trailer cost $800 and was expected to test 4 years, with a real velue of $2.000 PB9-1 (Algo) Part 6 6. Prepare the journal arery to recond year 2 double declining belence deprecation expence for the sales of no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field) Journal entry worksheet Record the year 2 depreciation expense for the tra 1 Debe Credi Homework 7 01 Required information PB9-1 (Alge) Computing Acquisition Cost and Recording Depreciation under Three Alternative Methods (LO 9-2, LO 9-3) [The following information applies to the questions displayed below) At the beginning of the year, Goldenrod Corporation bought a sheit, a mechine and trade The shed initially cost $20,800 but hed to be renovated at a cost of $640. The shed was expected to last 7 years, with a residual value of $1.700. Repairs costing $460 were incurred at the end of the first year of use The machine cost $11.500, and is estimated to have a total life of 40,000 hours and residual value of $900. The machine was actually used 2.000 hours in year 1 and 4.000 hours in year 2 The taller cost $11,000 and was expected to last 4 years, with a residual value of $2.000 PB9-1 (Algo) Part 1 Required: 1. Compute the amount to be capitalized for the shed T Seve & 8 Required information PB9.1 (Algo) Computing Acquisition Cost and Recording Depreciation under Three Alternative Methods LO 9-2. LO 9-3 The following information applies to the questions played below) At the beginning of the year, Goldenrod Corporation bought a shed a machine, and a ba The shed italy cost $20.000 but ined to be renovated at a cost of $640. The shed was expected to last 7 years, with a resual value of $1700 Repens costing $400 were incurred at the end of the first year of use The machin 500, and is estimated to have a total life of 40,000 hours and residual value of $900. The machine was actually used 2.000 hours in year 1 and 4.000 hours in year 2 The cost $1,000 and was expected to last 4 years with a reusel value of $2,000 PB9-1 (Algo) Part 2 2. Compute year 2 signe depreciation expense for the shed and prepare the journal entry to record & pf no entry is required for a transection/event, select "No Journal Entry Required in the first account field Journal entry worksheet Record the year 2 straight-line depreciation expense for the shed Oral Dese Ced 9 Required information PB9-1 (Alge) Computing Acquisition Cost and Recording Depreciation under Three Alternative Methods (LO 9-2, LO 9.3) [The following information applies to the questions displayed below) At the beginning of the year, Goldenrod Corporation bought a shed, a machine, and a tra The shed intialy cost $20,800 but had to be renovated at a cost of $640. The shed was expected to last 7 years, with a residual value of $1700. Repeirs costing $400 were incurred at the end of the first year of use The machine cost $11,500, and is estimated to have a total life of 40,000 hours and residual value of 5000. The machine was actually used 2.000 hours in year 1 and 4.000 hours in year 2 The seller cost $11,000 and was expected to last 4 years, with a residual value of $2,000 PB9-1 (Algo) Part 3 1. Compute year 2 units-of-production depreciation expense for the machine (Do not round intermediate calculations) 10 PB9-1 (Alge) Computing Acquisition Cost and Recording Depreciation under Three Alternative Methods LO 9-2, 109-3 (The towing on to the ques At the beginning of the yes Oudend Coporation bought a shed a machine and The shed ty co $3000 but ned to be renovated at a cost of $640 The shed was expected to s machine cost $1.500 and cally used 2,000 estimated to heve at the of 40.000 hours and residue of $900. The machine s) $300 and we expected to le years, with a residual value of $2.000 PB9-1 (Algo) Part 4 4 thelemy to recaid year 2 units of production deprecation expense for the machine (Do not calculations. If no entry is required for a transaction event, select "No Journal Entry Required" in the first account f Journal entry worksheet Cell interm P 11 Required information PB9-1 (Algo) Computing Acquisition Cost and Recording Depreciation under Three Alternative Methods [LO 9-2, LO 9.3) The following information apples to the questions displayed below) At the beginning of the year, Goldenrod Corporation bought a shed, a machine, and a traller The shed initially cost $20.00 but had to be renovated at a cost of $640. The shed was expected to last 7 years, with a residual value of $1700 Repairs costing $460 were incurred at the end of the first year of use The machine cost $11,500, and is estimated to have a total tide of 40.000 hours and residual value of $900. The machine was actually used 2.000 hours in year 1 and 4,000 hours in year 2 The trailer cost $11,800 and was expected to last 4 years, with a residual value of $2,000, PB9-1 (Algo) Part 5 5. Compute years 1 and 2 double-declining-balance depreciation expense for the traile Double-declining-balance Year t Year 2 12 Required information PB9-1 (Algal Computing Acquisition Cost and Recording Depreciation under Three Alternative Methods LO 9-2.109-3 The Ag infomation coes to the quest dyed belon At the beginning of the yea Goldenrod Corporation bought a shet e machine The shed istely cost $20.800 but had to be renovated at e stof $640. The shed was expected to last 7 years with residual value of $100 Repers costing $460 were The meche cost $500 and i timated to have a total she of 40,000 hours and residual value of $900 The mache wy used 2000 hours in year and 4,000 hours The water cost $800 and was expected to last years, with a reda ue of $2.000 PB9-1 (Alge) Part 6 6. Prepare me jourmet entry to record year 2 bedening lance direcon expense for the rate transient select "No Journal Entry Required" in the first account field) Journal entry worksheet De Cr