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Apex Fitness Club uses straight-line depreciation for a machine costing $29,350, with an estimated four year life and a $2,150 salvage value. At the beginning

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Apex Fitness Club uses straight-line depreciation for a machine costing $29,350, with an estimated four year life and a $2,150 salvage value. At the beginning of the third year, Apex determines that the machine has three more years of remaining useful life, after which it will have an estimated $1,700 salvage value. Required: 1. Compute the machine's book value at the end of its second year. 2. Compute the amount of depreciation for each of the final three years given the revised estimates. Answer is not complete. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Compute the machine's book value at the end of its second year. Book Value at the End of Year $ 29,350 Cost Acomated depreciation 2 years Book value at point of revision 5,266 24.084 $ Required 2 > Apex Fitness Club uses straight-line depreciation for a machine costing $29,350, with an estimated four year life and a $2.150 salvage value. At the beginning of the third year, Apex determines that the machine has three more years of remaining useful life, after which it will have an estimated $1700 salvage value. Required: 1. Compute the machine's book value at the end of its second year. 2. Compute the amount of depreciation for each of the final three years given the revised estimates. Answer is not complete. Complete this question by entering your answers in the tabs below. Required 1 Required2 Compute the amount of depreciation for each of the final three years given the revised estimates. (Do not round intermediate calculations. Round your answers to the nearest whole dollar.) Revised Depreciation (Years 3-5) Book value at point of revision Revised salvage value Remaining depreciable cost Years of life remaining Revised annual depreciation years Required Rodriguez Company pays $380,000 for real estate plus $20,140 in closing costs. The real estate consists of land appraised at $200,000; land improvements appraised at $100,000; and a building appraised at $200,000. Required: 1. Allocate the total cost among the three purchased assets. 2. Prepare the journal entry to record the purchase. Answer is not complete. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Allocate the total cost among the three purchased assets. (Round your "Apportioned Cost" answers to 2 decimal places.) Appraised Value Percent of Total Appraised Value 40% x Total Cost of Acquisition Apportioned Cost 400.140 Land Land improvements Building Totals 100,000 200,000 300,000 20% 40% 100% * 400,140 400,140 $ 0.00 Rodriguez Company pays $380,000 for real estate plus $20,140 in closing costs. The real estate consists of land appraised at $200,000; land improvements appraised at $100,000; and a building appraised at $200,000. Required: 1. Allocate the total cost among the three purchased assets. 2. Prepare the journal entry to record the purchase. 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 the purchase. (Round your answers to 2 decimal places.) No Transaction General Journal Debit Credit Land Land improvements Building Cash

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