I am really struggling with this. it is due sunday. Please help.

De Search Sign in Share Comments Aurin Cha Depn and disposal US Edition at Feb 25_ASS GNMENT. - Excel Fle Home Insert Draw Page Layou! Formulas Data REY View Picture Format COS Compress Pictures Corrections Color Artiste Transparency Artiste Change Picture Buskylund - Elects fleet Picture Pure Border Picture Lects PictureLayou teghe 12.31 Crop 3 With 740 Alian G GOUD Rorste At Texi Section Eloup Bring end Forward - Bucard - Pane Arrange Picture 2 lu A K L ...!! M N 0 P o R s U T VW Y Z 1 $3,500,000 VOTONY Total cash paid Assets acquired: Land Building Machinery Patents S600.000 S400,000 5900,000 $500.000 4 5 6 7 B 9 10 11 12 12 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 2 30 31 32 33 34 35 36 The building is depreciated using the double-declining balance method. Other information is: Salvage value $50,000 Estimated useful life in years The machinery is depreciated using the units-of-production method. Other information is: Salvage value, percentage of cost 10% Estimated total production output in 200,000 Actual production in units was as 2019 40.000 2020 UUUUU 2021 20,000 The patents are amortized on a straight-line basis. They have no salvage valul... Estimated useful life of patents in 30 On December 31, 2020, the value of the patents was estimated to be $100.000 Where applicable, the company uses the year rule to calculate depreciation and amortization expense in the years of acquisition and disposal. Its fiscal year-end is December 31 The machinery was traded on December 2, 2021 for new machinery, Other information is Fair value of old machinery S240,000 Trade-in allowance $288.000 List price for new machinery $403,200 Required in Entries Copyright Scrollock 1104 Type here to search O E. 7:24 PM 9/19/20120 Aurin De Cha Depn and disposal US Edition at Feb 25_ASS GNMENT. - Excel Search Sign in Fle Home Insert Draw Page Layou: Formulas Data REY View Picture Format Share Comments Pure Border COS Corrections Color Artist Trency - Effects Adjust Compress Pictures Charge Picture Reset Pcture Picture Lects Picture Layout teghe 12.31 Crop 3 With 740 Alian G GOUD Rorste Section Eloup At Texi Buskylund Bring end Forward - Bucard - Pane Arrange J K L M N 0 P o R s T U VW Y Z MA C C D Estimated userul or putenis mm On December 31, 2020, the value of the patents was estimated to be $100.000 Picture 2 A 25 26 27 28 29 30 31 32 33 34 35 Where applicable, the company uses the 14 year rule to calculate depreciation and amortization expense in the years of acquisition and disposal. Its fiscal year-end is December 31. The machinery was traded on December 2, 2021 for new machinery Other information is: Fair value of old machinery $240.000 Trade-in allowance $288.000 List price for new machinery S403.200 Estimated useful life of new machinery in 20 Estimated salvage value of new $8,064 The new machinery is depreciated using the straight-line method and 36 37 38 39 40 41 42 On August 14, 2023. an addition was made. This amount was material. Other relevant information is as follows: Amount of addition. paid in cash $100,000 Number of years of useful life from 2023 (original machinery and addition): 30 Salvage value. percentage of addition 10% 43 44 45 46 47 48 49 50 51 52 53 54 Required: Prepare journal entries to record: 1 The purchase of the assets of Coffee 2 Depreciation and amortization expense on the purchased assets for 2019 3 The decline (if any) in value of the patents at December 31 4 The trade-in of the old machinery and purchase of the new 5 Depreciation on the new machinery for 2021 6 Cost of the addition to the machinery on August 14, 2023 7 Depreciation on the new machinery for 2023 55 56 57 Required nl. Entries Copyright Scrollock 1104 Type here to search E- 7:24 PM 9/19/2012)