Carla Vista Company purchased a new machine on October 1,2024 , at a cost of $150,000. The company estimated that the machine will have a residual value of $14,100. The machine is expected to be used for 10,000 working hours during its 5 -year life. Carla Vista Company's year-end is December 31 . (a) Calculate the depreciation expense under the straight-line method for 2024. The following are some transactions of Crane Company for 2024. Crane Company uses straight-line depreciation and has a December 31 year end. Apr.1 Retired a piece of equipment that was purchased on January 1,2015 , for $49,000. The equipment had an expected useful life of 10 years with no residual value. July 30 Sold equipment for $1,400 cash. The equipment was purchased on January 3,2022 , for $14,040 and was depreciated over an expected useful life of three years with no residual value. Nov.1 Traded in an old vehicle for a new vehicle, receiving a $10,000 trade-in allowance and paying $36,000 cash. The old vehicle had been purchased on November 1,2018 , at a cost of $34,200. The estimated useful life was eight years and the estimated residual value was $6,600. The fair value of the old vehicle was $8,800 on November 1,2024 . (a) For each of these disposals, prepare a journal entry to record depreciation from January 1, 2024, to the date of disposal, if required. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. List debit entry before credit entry. Record journal entries in the order presented in the problem.) Lindy Weink, the new controller of Cullumber Company, has reviewed the expected useful lives and residual values of selected depreciable assets at December 31, 2024. (Depreciation for 2024 has not been recorded yet.) Her findings are as follows: After discussion, management agrees to accept Lindy's proposed changes. All assets are depreciated by the straight-line method. Cullumber Company has a December 31 year end. (a) For each asset, calculate the annual depreciation expense using the original estimated useful life and residual value