At the beginning of the year, Oakmont Company bought three used machines from American Manufacturing, Inc. The machine immediately were overhauled, were installed, and started operating Because the machines were different, each was recorded separately in the accounts. hine A Machine B Machine C Amount paid for asset Installation costs Renovation costs prior to use Repairs after production began $10,300 $19,800 480 200 420 10,800 400 800 688 700 500 1,100 By the end of the first year, each machine had been operating 4,000 hours. Required 1. Compute the cost of each machine. n expense at the end of year 1, assuming the following: Estimates Machine Life 5 years Residual Value $1,300 1,580 2,200 Depreciation Method Straight-line Units-of-production Double-declining-balance 20,980 hours 18 years Complete this question by entering your ans Required 1 Required 2 Compute the cost of each machine. Cost of Machine Machine A Machine B Machine C Journal entry worksheet Record the depreciation expense for the three used machines at the end of year 1 assuming each machine has its own accumulated depreciation account. Note: Enter debits before credits. Transaction General Journal Debit Credit