dcCours. Seved Help B Amount paid for asset Installation costs Renovation costs prior to use Repairs after production began Machine A $8,100 400 2,500 500 Machine $26,600 800 1,200 450 Machine C $10,300 700 1,300 575 By the end of the first year, each machine had been operating 5,000 hours 1:59:26 Required: 1. Compute the cost of each machine. 2. Prepare the journal entry to record depreciation expense at the end of year 1, assuming the following: TIP: Remember that the formula for double-declining-balance uses cost minus accumulated depreciation (not residual value) pped Machine Sook Estimates Life Residual Value 5 years $ 500 20,000 hours 400 6 years 1,500 Depreciation Method Straight-line Units-of-production Double-declining-balance Yint Complete this question by entering your answers in the tabs below. rences Required 1 Required 2 Compute the cost of each machine. Cost of Machine Machine A Machine B Machine C . Required 2 > pense at the end of year 1, assuming the following: TIP: Remember that double-declining-balance uses cost minus accumulated depreciation (not residual value). (If no entry is required for a transaction/event, select "No Journal Entry Required in the first account field. Do not round intermediate calculations.) View transaction list Journal entry worksheet