Additionalinstruction Points: 13/15 h noinin-declinina-batance method New lithographic equipment acquired at a cost of $800,000 on March 1 at the beginning of a fiscal year, has an estimated useful life of 5 years and an estimated residual value of $90,000. The manager requested information regarding the effect of alternative methods on the amount of depreciation expense each year. In the first week of the fith year, on March 4 , the equipment was sold for $135,000. Required: 1 Defermine the annual depreciation expense for each of the estimated 5 years of use, the accumulated depreciation at the end of each year, and the pook veiue of the equipmeat at the end of each year by (a) the strachtilne method and (0) the double-decining-balance method 2. Journaize the entry to record the sale, assuming the manager chose the double-dectining-balance method 3. Journaize the entry to record the sale in (2), assuming that the equipment was sold for 58a, 750 instead of $135,000 \begin{tabular}{|c|c|c|c|c|} \hline Year & Depreciation Expense & & ear. & Book Value, End of Year \\ \hline 1 & $320,000 & & $320,000V & $480.000 \\ \hline 2 & 192,000V & & 512.000 & 288,000 \\ \hline 3 & 115.200 & 1 & 627.200V & 172.800 \\ \hline 4 & 69,120 & th & 696.320V & 103.680V \\ \hline 5 & & & & \\ \hline \end{tabular} Points: 12 3 On March 4, journaize the entry to recond the sale in (2), assuming that the equipment was sold for $88,750 instead or $135,000 Question not attempted. How does grodins work? Additionalinstruction Points: 13/15 h noinin-declinina-batance method New lithographic equipment acquired at a cost of $800,000 on March 1 at the beginning of a fiscal year, has an estimated useful life of 5 years and an estimated residual value of $90,000. The manager requested information regarding the effect of alternative methods on the amount of depreciation expense each year. In the first week of the fith year, on March 4 , the equipment was sold for $135,000. Required: 1 Defermine the annual depreciation expense for each of the estimated 5 years of use, the accumulated depreciation at the end of each year, and the pook veiue of the equipmeat at the end of each year by (a) the strachtilne method and (0) the double-decining-balance method 2. Journaize the entry to record the sale, assuming the manager chose the double-dectining-balance method 3. Journaize the entry to record the sale in (2), assuming that the equipment was sold for 58a, 750 instead of $135,000 \begin{tabular}{|c|c|c|c|c|} \hline Year & Depreciation Expense & & ear. & Book Value, End of Year \\ \hline 1 & $320,000 & & $320,000V & $480.000 \\ \hline 2 & 192,000V & & 512.000 & 288,000 \\ \hline 3 & 115.200 & 1 & 627.200V & 172.800 \\ \hline 4 & 69,120 & th & 696.320V & 103.680V \\ \hline 5 & & & & \\ \hline \end{tabular} Points: 12 3 On March 4, journaize the entry to recond the sale in (2), assuming that the equipment was sold for $88,750 instead or $135,000 Question not attempted. How does grodins work
