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Please help me with these couple questions asap

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Question 4 Not checked Mark 0.00 out of 37.00 Flag question Question text Take me to the text On July 1, 2008, Pony Boy's Soda Pop purchased a new bottlesealing machine for $136,000. The machine had an estimated useful life of 10 years and is expected to have no residual value. Assume that the company has adopted a partialyear depreciation policy, where depreciation is taken on a monthly basis. The company uses straight line depreciation. The fiscal yearend for Pony Boy's Soda Pop is December 31. On November 1, 2016. Pony Boy's Soda Pop trades this machine for a new machine. The price tag on the new machinery is $146,000. In return for the old machine that Pony Boy's Soda Pop is giving up, the supplier of the new machine agrees to take $46,000 off the price of the new machine even though the fair value of the old machine on the day of the trade is only $24,667. Required a) Prepare the depreciation table over the life of the old machine. Do not enter dollar signs or commas in the input boxes. Round all dollar figure answers to the nearest whole number. Yea r Cost of Long-Term Asset 200 8 $136,000 200 9 $136,000 201 0 $136,000 201 1 $136,000 201 2 $136,000 Depreciation Expense Accumulated Depreciation Net Book Value $Answer $Answer $Answer $Answer $Answer $Answer $Answer $Answer $Answer $Answer $Answer $Answer $Answer $Answer $Answer 201 3 $136,000 201 4 $136,000 201 5 $136,000 201 6 $136,000 $Answer $Answer $Answer $Answer $Answer $Answer $Answer $Answer $Answer $Answer $Answer $Answer b) Write the journal entry to record the machine exchange. Assume the company immediately paid for the new machine. Enter all debit accounts in alphabetical order. Enter all credit accounts in alphabetical order. Dat e Nov 1 Account Title and Explanation Answer Answer Answer Answer Check Credit Answer Answer Answer Answer Answer Answer Record the exchange of bottle-sealing machine Debit Question 5 Not checked Marked out of 48.00 Flag question Question text Take me to the text Equipment was purchased on December 31, 2012 for $60,000. The asset is expected to last for four years, at which time the estimated residual value will be $10,000. Required a) Prepare a table showing the amount of depreciation expense each year, accumulated depreciation to date and net book value. The company uses straightline depreciation. Do not enter dollar signs or commas in the input boxes. Round all dollar figure answers to the nearest whole number. Yea r Cost of Long-Term Asset Accumulated Depreciation Net Book Value $Answer $Answer $Answer $Answer $Answer $Answer $60,000 $Answer $Answer $Answer 201 3 $60,000 201 4 $60,000 201 5 Depreciation Expense 201 6 $60,000 $Answer $Answer $Answer b) The asset was sold for $13,000 on the first day of 2017. Prepare the journal entry to record the sale. Enter all debit accounts in alphabetical order. Enter all credit accounts in alphabetical order. Dat e Jan 1 Account Title and Explanation Debit Answer Answer Answer Answer Credit Answer Answer Answer Answer Sale of equipment for cash c) Using the same purchase information at the beginning of the question, prepare the table assuming that the company used doubledecliningbalance depreciation and the asset had no residual value. Yea r Net Book Value at the Beginning of the Year Depreciation Expense Accumulated Depreciation Net Book Value at the End of the Year 201 3 $Answer $Answer $Answer $Answer 201 4 $Answer $Answer $Answer $Answer 201 5 $Answer $Answer $Answer $Answer 201 6 $Answer $Answer $Answer $Answer d) Using the same purchase information and residual value at the beginning of the question, assume that the company uses the unitsofproduction method. The asset can produce one million units. Prepare the depreciation table. Yea r Cost of LongTerm Asset Units Produced 201 3 $60,000 180,000 201 4 $60,000 190,000 201 5 $60,000 170,000 201 6 $60,000 260,000 Check Depreciation Expense Accumulated Depreciation Net Book Value $Answer $Answer $Answer $Answer $Answer $Answer $Answer $Answer $Answer $Answer $Answer $Answer Question 9 Partially correct Mark 7.00 out of 9.00 Flag question Question text Take me to the text Velma Corporation purchased a large forest for $14 million on January 1, 2016. The company estimates that 9 million board feet of lumber can be harvested. After 10 years, the company will sell the land and expects it to be worth $3 million. Required a) Prepare the journal entry to record the purchase of the forest. Do not enter dollar signs or commas in the input boxes. Dat e Jan 1 Account Title and Explanation Debit Credit Answer Answer Forest 14000000 Answer Answer Cash 14000000 Record the purchase of the forest b) Calculate the unit for each BF to be extracted. Round your answers to 2 decimal places. Unit Cost = $Answer 1.2 per board foot c) During the current year, the company harvested 200,000 board feet. Prepare the journal entry to record the harvesting on December 31, 2016. Round your answers to the nearest whole number. Date Dec 31 Account Title and Explanation Inventory Accumulated Depletion Record depletion for the year Check Credit Answer Answer Answer Debit ?? Answer ?? Question 4 Not checked Mark 0.00 out of 37.00 Flag question Question text Take me to the text On July 1, 2008, Pony Boy's Soda Pop purchased a new bottlesealing machine for $136,000. The machine had an estimated useful life of 10 years and is expected to have no residual value. Assume that the company has adopted a partialyear depreciation policy, where depreciation is taken on a monthly basis. The company uses straight line depreciation. The fiscal yearend for Pony Boy's Soda Pop is December 31. On November 1, 2016. Pony Boy's Soda Pop trades this machine for a new machine. The price tag on the new machinery is $146,000. In return for the old machine that Pony Boy's Soda Pop is giving up, the supplier of the new machine agrees to take $46,000 off the price of the new machine even though the fair value of the old machine on the day of the trade is only $24,667. Required a) Prepare the depreciation table over the life of the old machine. Do not enter dollar signs or commas in the input boxes. Round all dollar figure answers to the nearest whole number. Yea r Cost of Long-Term Asset 200 8 $136,000 200 9 $136,000 201 0 $136,000 201 1 $136,000 201 2 $136,000 Depreciation Expense $Answer Accumulated Depreciation $Answer $Answer 6,800 $Answer 6,800 $Answer 20,400 $Answer 34,000 $Answer 47,600 88,400 $Answer $Answer 13,600 102,000 $Answer $Answer 13,600 115,600 $Answer $Answer 13,600 129,200 $Answer $Answer 13,600 Net Book Value 61,200 74,800 201 3 $136,000 201 4 $136,000 201 5 $136,000 201 6 $136,000 $Answer $Answer $Answer 13,600 $Answer 74,800 $Answer $Answer 13,600 $Answer 88,400 47,600 $Answer $Answer 13,600 $Answer 61,200 102,000 34,000 $Answer $Answer 11,333 113,333 22,667 b) Write the journal entry to record the machine exchange. Assume the company immediately paid for the new machine. Two numbers are wrong here! \"?\" beside them! Enter all debit accounts in alphabetical order. Enter all credit accounts in alphabetical order. Dat e Nov 1 Account Title and Explanation Machine (New) 146,000 ? Accumulated Depreciation 113,333 Answer Answer Cash Answer Machine (Old) Answer Gain on Disposal of Asset Record the exchange of bottle-sealing machine Check Credit Answer Answer Answer Debit Answer 100,000 Answer 136,000 Answer 23,333 ? Question 5 Not checked Marked out of 48.00 Flag question Question text Take me to the text Equipment was purchased on December 31, 2012 for $60,000. The asset is expected to last for four years, at which time the estimated residual value will be $10,000. Required a) Prepare a table showing the amount of depreciation expense each year, accumulated depreciation to date and net book value. The company uses straightline depreciation. Do not enter dollar signs or commas in the input boxes. Round all dollar figure answers to the nearest whole number. Yea r Cost of Long-Term Asset 201 3 $60,000 201 4 $60,000 201 5 Depreciation Expense $Answer Accumulated Depreciation $Answer $Answer 12,500 $Answer 12,500 $60,000 $Answer 25,000 $Answer 12,500 47,500 $Answer $Answer 12,500 Net Book Value 35,000 $Answer 37,500 22,500 201 6 $60,000 $Answer $Answer $Answer 12,500 50,000 10,000 b) The asset was sold for $13,000 on the first day of 2017. Prepare the journal entry to record the sale. Enter all debit accounts in alphabetical order. Enter all credit accounts in alphabetical order. Dat e Jan 1 Account Title and Explanation Debit Credit Answer Answer Cash 13,000 Accumulated Depreciation 50,000 Answer Answer Answer Answer Equipment 60,000 Answer Answer Gain on Disposal of Asset 3,000 Sale of equipment for cash c) Using the same purchase information at the beginning of the question, prepare the table assuming that the company used doubledecliningbalance depreciation and the asset had no residual value. (Any number has question mark beside it means it's wrong plus there is no answer in the last row!) Yea r Net Book Value at the Beginning of the Year 201 3 $Answer 201 4 $Answer 201 5 $Answer 201 6 $Answer Depreciation Expense $Answer 60,000 ? $Answer $Answer 30,000 $Answer 45,000 $Answer 15,000 $Answer 50,000 ? 5,000 ? $Answer ? Net Book Value at the End of the Year 30,000 15,000 $Answer 15,000 $Answer 30,000 $Answer 30,000 Accumulated Depreciation $Answer 10,000 ? $Answer ? ? d) Using the same purchase information and residual value at the beginning of the question, assume that the company uses the unitsofproduction method. The asset can produce one million units. Prepare the depreciation table. This part is all wrong! Yea r Cost of LongTerm Asset Units Produced 201 3 $60,000 180,000 201 4 $60,000 190,000 201 5 $60,000 170,000 201 6 $60,000 260,000 Check Depreciation Expense $Answer Accumulated Depreciation $Answer 13,500 ? 27,750 ? $Answer 19,500 ? 32,250 ? $Answer $Answer 40,500 ? 12,750 ? 46,500 ? $Answer $Answer 14,250 ? $Answer $Answer $Answer 13,500 ? Net Book Value 19,500 ? $Answer $Answer 60,000 ? 0? Question 9 Partially correct Mark 7.00 out of 9.00 Flag question Question text Take me to the text Velma Corporation purchased a large forest for $14 million on January 1, 2016. The company estimates that 9 million board feet of lumber can be harvested. After 10 years, the company will sell the land and expects it to be worth $3 million. Required a) Prepare the journal entry to record the purchase of the forest. Do not enter dollar signs or commas in the input boxes. Dat e Jan 1 Account Title and Explanation Debit Credit Answer Answer Patents 14000000 Answer Answer Cash 14000000 Record the purchase of the forest b) Calculate the unit for each BF to be extracted. Round your answers to 2 decimal places. Unit Cost = $Answer 1.2 per board foot c) During the current year, the company harvested 200,000 board feet. Prepare the journal entry to record the harvesting on December 31, 2016. Round your answers to the nearest whole number. Date Dec 31 Account Title and Explanation Inventory Accumulated Depletion Record depletion for the year Check Credit Answer Answer Answer Debit 144,444? Answer 144,444? Question 5 Not checked Marked out of 48.00 Flag question Question text Take me to the text Equipment was purchased on December 31, 2012 for $60,000. The asset is expected to last for four years, at which time the estimated residual value will be $10,000. Required a) Prepare a table showing the amount of depreciation expense each year, accumulated depreciation to date and net book value. The company uses straightline depreciation. Do not enter dollar signs or commas in the input boxes. Round all dollar figure answers to the nearest whole number. Yea r Cost of Long-Term Asset 201 3 $60,000 201 4 $60,000 201 5 $60,000 201 6 $60,000 Depreciation Expense $Answer Accumulated Depreciation $Answer $Answer 12,500 $Answer 12,500 $Answer 25,000 $Answer 37,500 22,500 $Answer $Answer 12,500 35,000 $Answer $Answer 12,500 47,500 $Answer $Answer 12,500 Net Book Value 50,000 10,000 b) The asset was sold for $13,000 on the first day of 2017. Prepare the journal entry to record the sale. Enter all debit accounts in alphabetical order. Enter all credit accounts in alphabetical order. Dat e Jan 1 Account Title and Explanation Debit Credit Answer Answer Cash 13,000 Accumulated Depreciation 50,000 Answer Answer Answer Answer Equipment 60,000 Answer Answer Gain on Disposal of Asset 3,000 Sale of equipment for cash c) Using the same purchase information at the beginning of the question, prepare the table assuming that the company used doubledecliningbalance depreciation and the asset had no residual value. Yea r Net Book Value at the Beginning of the Year 201 3 $Answer 201 4 $Answer 201 5 $Answer 201 6 $Answer Depreciation Expense $Answer 60,000 Accumulated Depreciation $Answer $Answer $Answer $Answer $Answer $Answer 15,000 $Answer 52,500 7,500 $Answer 7,500 30,000 45,000 15,000 15,000 $Answer 30,000 30,000 30,000 Net Book Value at the End of the Year $Answer 7,500 $Answer 56,250 3,750 3,750 d) Using the same purchase information and residual value at the beginning of the question, assume that the company uses the unitsofproduction method. The asset can produce one million units. Prepare the depreciation table. This part is still all wrong! Yea r 201 3 Cost of LongTerm Asset $60,000 Units Produced 180,000 Depreciation Expense $Answer 11,250 Accumulated Depreciation Net Book Value $Answer $Answer 11,250 48,750 201 4 $60,000 190,000 201 5 $60,000 170,000 201 6 $60,000 260,000 $Answer 23,125 11,875 $Answer 36,875 $Answer $Answer 33,750 10,625 $Answer $Answer $Answer 26,250 $Answer $Answer 50,000 16,250 10,000 Check Skip to main content Question 9 Not checked Mark 7.00 out of 9.00 Flag question Question text Take me to the text Velma Corporation purchased a large forest for $14 million on January 1, 2016. The company estimates that 9 million board feet of lumber can be harvested. After 10 years, the company will sell the land and expects it to be worth $3 million. Required a) Prepare the journal entry to record the purchase of the forest. Do not enter dollar signs or commas in the input boxes. Dat Account Title and Explanation e Jan 1 Credit Answer Answer Forest Answer Debit 14000000 Answer Cash 14000000 Record the purchase of the forest b) Calculate the unit for each BF to be extracted. Round your answers to 2 decimal places. Unit Cost = $Answer 1.2 per board foot c) During the current year, the company harvested 200,000 board feet. Prepare the journal entry to record the harvesting on December 31, 2016. This is still wrong as well! Sorry Round your answers to the nearest whole number. Date Account Title and Explanation Dec 31 Debit Credit Answer Answer Inventory ? Answer Answer Accumulated Depletion ? Record depletion for the year Check Next