At the beginning of the year, CCZ Corporation bought three used machines from Pequita Compression Incorporated. The machines Immediately were overhauled, Installed, and started operating. Because the machines were different from each other, each was recorded separately in the accounts. Cost of the asset Installation costs Renovation costs prior to use Repairs after production began Total cost By the end of the first year, each machine had been operating 6,600 hours. Required: 1-a. Compute the cost of each machine. Renovation costs Installation costs Purchase costs Repair cost Depreciation costs Machine Machine B A B C Estimates Life 1-b. Which of the following should be capitalized? (Select all that apply.) C 4 years 32,688 hours 5 years Machine A $ 9,920 1,560 560 460 S Residual Value $1,000 2,988 1,300 Total 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.) Machine B $27,928 2,060 1,360 360 0 Machine C $21,600 Depreciation Method Straight-line Units-of-production Double-declining-balance 760 1,560 660

At the beginning of the year, CCZ Corporation bought three used machines from Pequita Compression incorporated. The machines recorded seporately in the accounts. By the end of the first year, each machine had been operating 6,600 hours. Required: 1-4. Compute the cost of each machine. 1-b. Which of the following should be captalized? (Select olf that epply.) Fendvitiontionth inatiliktion posts Purcitalo outs Fieas cost Deprecation cotrt 2. Prepare the joumal entry to record depreciotian expense at the end of year 1 , assuming the foliowng if no entry is required for e vansection/event, select "No journal entry requilred" in the first account fields)