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Calculute and jourralue deprecistion for 2021 and 2022 for ewh of the followine independent situations Asuime the company produces finarcial resartsen the calendar rear Turtle
Calculute and jourralue deprecistion for 2021 and 2022 for ewh of the followine independent situations Asuime the company produces finarcial resartsen the calendar rear Turtle Creek Company 1) On lanuary 1, 2021 purchases a new machine, Machine 1, for 521821. The machine is expected to have a service iffe of 5 vears and a salvapr value of 53 :as? Tha machine wili be depreciated uring the straigh-line method. A. Joumalite the depreciation entry for this machine on December 31, 2021. B. Journalize the deprediation entry for this machine on December 31,2022 . 2) On lanuary 1, 2021 purchases a new machine, Machine 2, for 514 iod The machine is expected to have a service life of 15474 machine operations and a salvage value of $2099 This machine will be depreciated lesing the units-ef-production method. Machine operations as of December 31,2021 were 3036 Machine optrations as of December 31,2022 were 2911. Cisumalize the depredation entry for this muchine on December 31, 20a2. D. Journalite the depvedation entry for this machine on December 31, 202n. 3) On Aanuary 1, 2021 purchuses a new machine, Machine 1, for $29529 The machine is expectid to have a service Ille of 7 yean and a salvace value of 5953 . This machine wit be depreciuted issing the doutle-declining batance method. E, Journatire the depreciation entry for this machine on December 31, 20021. F. Joumalize the depreciation entry for this machine on December 31,2022. 4) The actual machine operations that Machine 2 could rut wan 20000. There was no charge in the expected sivase value. Machine operations as of the wear ended Deciniber 31, 2023 were 297. G. Iournalire the depreciation entry for thils machine on December 31, 2023. 5) On October 1, 2003, it was decided to dispose of Machine 1 above. The company received $9845 in exchange for the machine. K. Journalized the disporal of Machine 1. CHFCK figune S 3it,5o5.4t Dois is the book value of all machines in our possesion on December 31, 2022
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