Calculate and journalize depreciation for 2021 and 2022 for each of the following independent situations. Assume the company produces financial reports on the calendar year. Turtle Creek Company 1) On January 1, 2021 purchases a new machine, Machine 1, for $21821. The machine is expected to have a service life of 5 years and a salvage value of $1897. This machine will be depreciated using the straight-line method. A. Journalize the depreciation entry for this machine on December 31, 2021. B. Journalize the depreciation entry for this machine on December 31, 2022. 2) On January 1, 2021 purchases a new machine, Machine 2, for $14306. The machine is expected to have a service life of 15474 machine operations and a salvage value of $2039. This machine will be depreciated using the units-of-production method. Machine operations as of December 31, 2021 were 3036. Machine operations as of December 31, 2022 were 2911. C. Journalize the depreciation entry for this machine on December 31, 2021. D. Journalize the depreciation entry for this machine on December 31, 2022. 3) On January 1, 2021 purchases a new machine, Machine 3, for $29529. The machine is expected to have a service life of 7 years and a salvage value of $963. This machine will be depreciated using the double-declining-balance method. E. Journalize the depreciation entry for this machine on December 31, 2021. F. Journalize the depreciation entry for this machine on December 31, 2022. 4) On January 1, 2023 it was determined that the service life of Machine 2 was misjudged. The actual machine operations that Machine 2 could run was 20000. There was no change in the expected salvage value. Machine operations as of the year ended December 31, 2023 were 2979. G. Journalize the depreciation entry for this machine on December 31, 2023. 5) On October 1, 2023, it was decided to dispose of Machine 1 above. The company received $9846 in exchange for the machine. H. Journalized the disposal of Machine 1. CHECK FIGURE $ 38,505.41 This is the book value of all machines in our possesion on December 31, 2022

Calculate and journalize depreciation for 2021 and 2022 for each of the following independent situations. Assume the company produces financial reports on the calendar year. Turtle Creek Company 1) On Jafuary 1, 2021 purchases a new machine, Machine 1, for $21821. The machine is expected to have a service life of 5 years and a salvage value of $1897. This machine will be depreciated using the straight-line method. A. Journalize the depreciation entry for this machine on December 31, 2021. B. Journalize the depreciation entry for this machine on December 31, 2022. 2) On lanuary 1, 2021 purchases a new machine, Machine 2, for $14306. The machine is expected to have a service life of 15474 machine operations and a salvage value of $2039 This machine will be depreciated using the units-of-production method. Machine operations as of December 31, 2021 were 3036 . Machine operations as of December 31, 2022 were 2911. C. Journalize the depreciation entry for this machine on December 31, 2021. D. Journalize the depreciation entry for this machine on December 31,2022. 3) On Lanuary 1, 2021 purchases a new muchine, Machine 3, for \$29529. The machine is expected to have a service life of 7 wears and a salvage value of $963. This machine will be depreciated using the double-declining balance method. E. Journalize the depreciation entry for this machine on December 31, 2021. F. Jowmalize the depreciation entry for this machine on December 31, 2022. 4) On fanuary 1, 2023 it was determined that the service life of Machine 2 was misjudged. The actual machine operations that Machine 2 could ruin was 20000 . There was no change in the expected salvage value Machine operations as of the year ended December 31, 2023 were 2979. 6. Journalize the depreciation entry for this machine on December 31, 2023. 5) On Octobee 1, 2023, it was declded to dispose of Machine 1 above. The company received $9848 in exchange for the machine. H. Joumalised the disposal of Machine 1. CHECK FIGURE 5 38,505.41 This is the book value of alf machines in our possesion on December 31,2022