Assume an estimated life of 10 years, with no salvage value. The machinery included in the January 1, 2018, balance was purchased in 2016. (Round answers to 0 decimal places, e.g. 45,892.)

(1) Straight-line $

(2) Sum-of-the-years'-digits $

Exercise 11-1 Exercise 11-14 Cullumber Company shows the following entries in its Equipment account for 2018. All amounts are based on historical Cost Equipment 2018 2018 124,420 June 30 Cast of equipment sold Jan. 1 Balance Aug. 10 Purchases (purchased prior to 2018) 23,680 29,600 12 Freight on equipment purchased 740 25 Installation costs 2,480 Nov. 10 Repairs 510 Your answer is correct Prepare correcting entry if necessary. (If no entry is required, select "No entry" for the account titles and enter for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit Maintenance and Repairs Expense 1510 Equipment 510 Link to Text Your answer is incorrect. Try again Assuming that depreciation is to be charged for a full year on the ending balance in the asset account, compute the proper depreciation charge for 2018 under each of the methods listed below. Assume an estimated life of 10 years, with no salvage value. The machinery included in the January 1, 2018, balance was purchased in 2016. (Round answers to 0 decimal places, e.g. 45,892.) (1) Straight-line 15114 (2) Sum-of-the-years'-digits 17940 Show List of Accounts Link to Tex submit Question Attempts: 2 of 4 used for later Answer pyright ns nc. or rela Companies reserv file:/IC/Users/Mercedes/Documents/Exercise%20 4.htm 12/6/2016 5:03:20 PM