Exercise 8-1 (Algo) Cost of plant assets LO C1 Rizio Company purchases a machine for $10,500, terms 2/10,n/60, FOB shipping point. Rizio paid within the discount period and took the $210 discount. Transportation costs of $237 were paid by Rizio. The machine required mounting and power connections costing $726. Another $342 is paid to assemble the machine, and $40 of materials are used to get it into operation. During installation, the machine was damaged and $295 worth of repairs were made. Complete the below table to caiculate the cost recorded for this machine. Exercise 8-2 (Algo) Recording costs of assets LO C1 Cala Manufacturing purchases land for $421,000 as part of its plans to build a new plant. The company pays $29,000 to tear down an bld building on the lot and $42,870 to fill and level the lot. It also pays construction costs of $1,641,100 for the new bullding and \$103,591 for lighting and paving a parking area. repare a single journal entry to record these costs incurred by Cala, all of which are paid in cash. Journal entry worksheet Record the total costs of the plant assets. Note Enter debits before credits. Required information Use the following information for the Exercises below. (Algo) [The following information applies to the questions displayed below] Ramirez Company installs a computerized manufacturing machine in its factory at the beginning of the year at a cost of $87,000. The machine's useful life is estimated at 20 years, or 395,000 units of product, with a $8,000 salvage value. During its second year, the machine produces 33,500 units of product. Exercise 8-4 (Algo) Straight-line depreciation LO P1 Determine the machine's second-year depreciation and year end book value under the straight-line method