Company B acquired a machine on January $1$ at an original cost of $$80,000.$ The machines estimated residual value is $$10,000,$ and its estimated life is four years. Which ONE of the following would be included in the journal entry necessary to record depreciation expense for the first year? The company uses straight$-$line depreciation.CREDIT to Cash for $$17,500$DEBIT to Cash for $$17,500$DEBIT to Accumulated Depreciation for $$20,000$CREDIT to Accumulated Depreciation for $$17,500$ Bookmark question for later

Company C acquired a machine on January $1$ of Year $1$ at an original cost of $$200,000.$ The machines estimated residual value is $$20,000,$ and its estimated life is four years. The company uses double$-$declining$-$balance depreciation.

What is depreciation expense for Year $2,$ the second year of the machines  

life? 

 

Company D has decided to use group depreciation based on the straight$-$line depreciation method. The initial pool of assets on which the group depreciation rate is based is as follows:Acquisition CostSalvage ValueUseful LifeAsset $1$$$64,000$$$4,0006$ yearsAsset $290,00010,00010$Asset $342,0006,0009$Asset $430,00005$After using these four assets to compute the group depreciation rate, the company purchased a similar asset, Asset $5,$ on January $1$ for $$50,000.$

What is the total annual depreciation expense for this group of Assets $1$ through $5?$