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Answer all of these, please Answer correctly!!! You have to answer all of these posts, please!!! 1 Required: 1. Compute the cost of each machine.
Answer all of these, please
Answer correctly!!!
You have to answer all of these posts, please!!!
1 Required: 1. Compute the cost of each machine. 2. Prepare the journal entry to record depreciation expense at the end of year 1, assuming the following: Estimates Depreciation Method Straight-line Units-of-production Double-declining-balance Residual Value $1,000 4,500 1,400 nts Life Machine 4 years 30.000 hours 10 years A B C Answer is not complete. Complete this question by entering your answers in the tabs below. Required 2 Required 1 Compute the cost of each machine. Cost of Machine Machine A 2,350 10,000 x Machine B $ 127,000 Machine C Required 2 Pcured 1 Required: 1, Compute the cost of each machine. 2. Prepare the journal entry to record depreciation expense at the end of year 1, assuming the following Estimates oints Residual Value $1,000 4,500 1,400 Life 4 years 30,000 hours 10 years Depreciation Method Machine Straight-1ine Units-of-production Double-declining-balance A C Answer is not complete. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare the journal entry to record depreciation expense at the end of year 1, assuming the following: (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field. Do not round intermediate calculations.) Transaction No General Journal Debit Credit 1 Depreciation Expense Accumulated Depreciation- Machine A 2,350 Accumulated Depreciation- Machine B 10.000 Accumulated Depreciation Machine C 127.000 red 1 Required 24 2 PA9-2 Recording and Interpreting the DIsposal of Long-Lived Assets [LO 9-5] Ly Company disposed of two different assets. On January 1, prior to their disposal, the accounts reflected the following: Accumulated Depreciation (straight-1ine) $21,600 (4 years) 44, eee (11 years) Residual Value Original Cost $30, eee 59,200 Estimated Life Asset Machine A Machine B 5 years 14 years $3,eee 3,200 The machines were disposed of in the following ways: a Machine A: Sold on January 1 for $9.000 cash. b Machine B: On January 1, this machine was sold to a salvage company at zero proceeds (and zero cost of removal) Required: 1. & 2. Prepare the journal entries related to the disposal of Machine A and Bat the beginning of the current year. (If no entry Is required for a transaction/vent, select "No Journal Entry Required" In the first account fleld.) Answer is not complete. General Journal Debit Credit No Date No Journal Entry Required 1 January 01 2 January 01 Cash 9,000 Accumulated Depreciation-Equipment 21,00 Gain on Disposal 30,000 Loss on Disposa 000 x No Journal Entry Required January 01 Accumulated Depreciation-Equipment 4 January 01 44,000 Loss on Disposal 11,200x 59 200 3 Required Information PA9-3 Analyzing and Recording Long-Lived Asset Transactions with Partial-Year Depreciation [LO 9-2, LO 9-3, LO 9-6] ints [The following information applies to the questions displayed below) Precision Construction entered into the following transactions during a recent year 2 Purchased a bulldozer for $250,0ee by paying $28, eee cash and signing a $23e,eee note due in five years. 3 Replaced the steel tracks on the bulldozer at a cost of $28,eee, purchased on account. The new steel tracks increase the bulldozer's operating efficiency January January January 3e rote a check for the anount oved on account for the work comp1eted on January 3. February 1 Repaired the leather seat on the bulldozer and wrote a check for the ful1 $88e cost. March 1 Paid $3,600 cash for the eights to use computer software for a two-year period. PA9-3 Part 1-b to 3 1-b. Prepare the journal entries for each of the above transactions 2 For the tangible and intangible assets acquired in the preceding transactions, determine the amount of depreciation and amortization that Precision Construction should report for the quarter ended March 31. The equipment is depreciated using the double-declining-balance method with a useful life of five years and $40,000 residual value. 3. Prepare a journal entry to record the depreciation and amortization calculated in requirement 2 Answer is not complete. Complete this question by entering your answers in the tabs below. Req 1B Req 2 Req Prepare a journal entry to record the depreciation and amortization calculated in requirement 2. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) No Date General Journal Debit Credit Depreciation Expense 1 March 31 27,000 27,000 Accumulated Depreciation-Equipment Step by Step Solution
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