Homework-Chapter 9 (for SolBridge students) Please submit to byoo0915@outlook.com before 9:00am on April 27 - No...

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Homework-Chapter 9 (for SolBridge students) Please submit to byoo0915@outlook.com before 9:00am on April 27 - No Exception SolMfg Company purchased a new machine for $400,000 on September 1, 2020. It is estimated that the machine will have $40,000 residual value at the end of its 5-year useful service life. Please prepare a depreciation schedule which shows the annual depreciation expense on the machine for its 5-year life. Instructions (1) Company is using straight line depreciation method: Year Depreciable amount Rate Annual Depreciation expense Accumulated Depreciation Book Value End of Year 2020 2021 2022 2023 2024 2025 FOR 2018 BE (2) Please prepare a journal entry on December 31, 2020 to record 2020 depreciation (3) The Company sold the machine on June 30,2023 for $200,000 cash. Please prepare journal entries on June 30.2023 A Addo Plottollve ABAR OF REAL BAR Homework-Chapter 9 (for SolBridge students) Please submit to byoo0915@outlook.com before 9:00am on April 27 - No Exception SolMfg Company purchased a new machine for $400,000 on September 1, 2020. It is estimated that the machine will have $40,000 residual value at the end of its 5-year useful service life. Please prepare a depreciation schedule which shows the annual depreciation expense on the machine for its 5-year life. Instructions (1) Company is using straight line depreciation method: Year Depreciable amount Rate Annual Depreciation expense Accumulated Depreciation Book Value End of Year 2020 2021 2022 2023 2024 2025 FOR 2018 BE (2) Please prepare a journal entry on December 31, 2020 to record 2020 depreciation (3) The Company sold the machine on June 30,2023 for $200,000 cash. Please prepare journal entries on June 30.2023 A Addo Plottollve ABAR OF REAL BAR