At the beginning of the year, Grillo Industries bought three used machines from Freeman Incorporated. The machines immediately were overhauled, were installed, and started operating. Because the machines were different, each was recorded separately in the accounts. Machine A Machine B Machine C Cost of the asset $ 9,600 $ 38,800 $ 22,600 Installation costs 850 2,700 1,800 Renovation costs prior to use 650 2,300 2,800 Repairs after production began 700 700 1,300 By the end of the first year, each machine had been operating 8,000 hours. Required: Compute the cost of each machine. Prepare the journal entry to record depreciation expense at the end of year 1, assuming the following: Estimates Machine Life Residual Value Depreciation Method A 5 years $ 1,600 Straight-line B 20,000 hours 1,200 Units-of-production C 10 years 2,000 Double-declining-balance

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Machine A B C Estimates Life Residual Value 5 years $1,600 20,000 hours 1,200 10 years 2,000 Depreciation Method Straight-line Units-of-production Double-declining-balance Prepare a partial balance sheet showing the presentation of equipment for the end of year 1. Balance Sheet Assets $ Equipment Accumulated Depreciation: Equipment Equipment, net of Depreciation $ 82,100 24,480 57,620 $ Prepare the journal entry to record depreciation expense at the end of year 1, assuming the following: (If no entry is required transaction/event, select "No Journal Entry Required" in the first account field. Do not round intermediate calculations.) View transaction list View journal entry worksheet No Transaction General Journal Debit Credit 1 1 22,480 Depreciation Expense Accumulated Depreciation - Machine A Accumulated Depreciation - Machine B Accumulated Depreciation - Machine C 1,900 17,040 5,440 Compute the cost of each machine. Machine A Machine B Machine C Cost of Machine $ 11,100 $ 43,800 $ 27,200