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Corcoran Corporation acquired machinery & equipment on January 1, 2018. The company paid $50,000 for the machinery & equipment. In addition the company paid $3,000 for shipping, and $2,000 assembley. The company's accounting manager estimates the machinery & equipment to have a five-year useful life and a residual value of $5,000.

Question #1 On January 1, 2018, how much should Corcoran Corporation record for the cost of the machinery & equipment ?

Question #2 Using the straight-line method, what would be the yearly depreciation for the machinery & equipment for 2018 through 2022?

Question #3 in 2021 and 5,500 hours in 2022. Using the units-of-production method, compute depreciation for the years 2018 through 2022. The machinery & equipment is expected to run for 20,000 hours in five years. 5,000 hours in 2018, 4,500 hours in 2019, 2,000 hours in 2020, 3.000h 1. 2018 2. 2019 v 3. 2020 4. 2021 v 5. 2022 Question #4 On December 31, 2022, the company sold the machinery & equipment for $7,000 cash. Compute the gain on sale using straight line method.

Question 1 On January 1 2018, how much should Corcoran Corporation tecord for the cost of the machinery & equipment Question #2 Using the straight-tine method, what would be the yearly depreciation for the machinery 8 equipment for 2016 through 20227 Questione Using the units of production method, compute depreciation for the youn 2018 through 2022 The machinery & equipment as expected to run for 20,000 hours in five years 5.000 hours in 2010. 4.50 1.2018 2 2019 3 2020 4 2021 62022 Question On December 21, 2022, the company sold the machinery equipment for 57.000 cash Compute the pain on sale using straight line depreciation method . 0.000000 2000 2002 - 20 he watch 250 PM U Mostly 1.2010 2 2019 3.2020 4 2021 5.2022 Question 14 On December 31, 2022, the company said the machinery equipment for 57,000 cash Compute the pain on sale usne straight line depreciation method Mon to the next question prevents changes to this answer Type here to search OR E 14 5 W E 27 E // R U