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help me with these questions! Cheyenne Corp. purchased a new machine on October 1,2022 , at a cost of $131,000. The company estimated that the

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Cheyenne Corp. purchased a new machine on October 1,2022 , at a cost of $131,000. The company estimated that the machine will have a salvage value of $18,500. The machine is expected to be used for 10,000 working hours during its 5 -year life. Compute the depreciation expense under straight-line method for 2022. eTextbook and Media Compute the depreciation expense under units-of-activity for 2022, assuming machine usage was 1,900 hours. (Round depreciable cost per unit to 2 decimal places, e.g. 0.50 and final answer to 0 decimal places, es. 2,125.) Compute the depreciation expense under declining-balance using double the straight-line rate for 2022 and 2023. Sheffield Corp. sells office equipment on July 31,2022 , for $19,200 cash. The office equipment originally cost $73,400 and as of January 1, 2022, had accumulated depreciation of $42,400. Depreciation for the first 7 months of 2022 is $5,750. Prepare the journal entries to (a) update depreciation to July 31, 2022, and (b) record the sale of the equipment. (Credit account tities are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account tities and enter 0 for the amounts.) Victor Mineli, the new controller of Novak Corp., has reviewed the expected useful lives and salvage values of selected depreciable assets at the beginning of 2022 . Here are his findings: All assets are depreciated by the straight-line method. Novak Corp. uses a calendar year in preparing annual adjusting entries and financial statements. After discussion, management has agreed to accept Victor's proposed changes. (The "Proposed" useful life is total life, not remaining life.) Compute the revised annual depreciation on each asset in 2022. Prepare the entry to record depreciation on the building in 2022. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.)

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