*Hackel has a policy of recording depreciation as detailed as possible. Therefore, for a machine purchased on 10^thor 11^th, they consider the depreciation for the rest of the month, i.e., 2/3 of the months. For a machine purchased on 14^thor 15^th, they consider the depreciation for the rest of the month, i.e., of the months.

Required:

1.Complete the table for the year ended December 31, 2022.

2.Suppose on 12/31/2023, Hackel found out that the expected undiscounted net cash flows for Machine A is 100,000, and the fair value of Machine A is 70,000. Please explain if impairment loss needs to be recorded and why. Record the journal entry if needed.

3.Suppose on 1/1/2023, Hackel sold Machine D for 100,000. Please record the transaction.

AutoSave OFF wa Project 2 - Saved to my Mac Home Insert Draw Design Layout References Mailings Review View Tell me Share Comments Arial 12 AA Aa AL 19 AaBbCcDdEe AaBbCcDdEe Aa BbCcD AaBbCcDdEc AaBb( AaBbCcDdEE Paste B 1vab X2 Av LV Av Normal No Spacing Heading 1 Heading 2 Title Subtitle Styles Dictate Sensitivity Pane Long term assets Hackel Industries presents you with the following information Description |Date* Cost Salvage Life in Depreciation Accumulated |Depreciation Purchased Value Years method Depreciation for 2022 on 12/31/21 Machine A 2/14/20 $142,500 $16,000 10 (a) $33,350 (b) Machine B 8/15/19 (c) 21,000 5 SL 29,000 (d) Machine C 7/21/18 75,400 23,500 8 DDB (e) (f ) Machine D 10/15/(g) 219,000 69,000 5 SYD 70,000 (h) "Hackel has a policy of recording depreciation as detailed as possible. Therefore, for a machine purchased on 10th or 11th, they consider the depreciation for the rest of the month, i.e., 2/3 of the months. For a machine purchased on 14th or 15th, they consider the depreciation for the rest of the month, i.e., 1/2 of the months. Required: 1. Complete the table for the year ended December 31, 2022. 2. Suppose on 12/31/2023, Hackel found out that the expected undiscounted net cash flows for Machine A is 100,000, and the fair value of Machine A is 70,000. Please explain if impairment loss needs to be recorded and why. Record the journal entry if needed. . Suppose on 1/1/2023, Hackel sold Machine D for 100,000. Please record the transaction. Page 3 of 12 2131 words English (United States) Focus E + 120%