he present lant, and SHIFT ALPHA DEPRECIATION METHODS 11210/112/7/24-45+ 6 + 7 + 3 + 9 1 1 10 55 = 0.1817 3) On January 1, 2021, the Allegheny Corporation purchased machinery for $115,000. The estimated service life of the machinery is 10 years and the estimated residual value is $5,000. The machine is expected to produce 220,000 units during its life. Required: Calculate depreciation for 2021 and 2022 using each of the following methods. Round all computations to the nearest dollar. 1. 2. 3. 4. 5. Straight line. Sum-of-the-years' digits. Double-declining balance. 4 One hundred fifty percent declining balance. Units of production (units produced in 2021, 30,000; units produced in 2022, 25,000). PARTIAL YEAR DEPRECIATION/DISPOSAL Hernard Manufacturing Company purchased equipment on June 30, year 1, at a cost of $81,000. The residual value of the equipment was estimated to be $7,500 at the end of a five-year life. The equipment was sold on March 31, year 5, for $17,500. Hernard uses the straight-line depreciation method for all of its plant and equipment. Partial-year depreciation is calculated based on the number of months the asset is in service. 1. Prepare the journal entry to record the sale. 2. Assuming that Hernard had instead used the double-declining-balance method, prepare the journal entry to record the sale. INTANGIBLE ASSETS Janetz Company provided the following information on intangible assets: a. A patent was purchased from the Louis Company for $760,000 on January 1, year 1. Janetz estimated the remaining useful life of the patent to be 10 years. The patent was carried on Louis's accounting records at a net book value of $360,000 when Louis sold it to Janetz. 3, a franchise was purchased from the Lenitt Company for $540,000. The in