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I just want to check my work please! Thank you Mailings Review View Help Search Individual Homework #1 Page 4 of 13 Scenario #2: Hayashi

I just want to check my work please! Thank you

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Mailings Review View Help Search Individual Homework #1 Page 4 of 13 Scenario #2: Hayashi Enterprises (8 points) Scenario #2: Hayashi Enterprises (8 points) Hayashi Enterprises wanted to purchase a used machine from Rodopoulos Manufacturing to use in its factory operations. Rodopoulos Manufacturing listed the used machine on an e-commerce trading site at a price of $650,000. Hayashi Enterprises inspected the machine and was convinced that it was worth $635,000, a price that was supported by an independent appraiser, The companies eventually agreed to a price of $638,000. Hayashi Enterprises cosed the deal on December 28, 2019 at which time it incurred a broker commission of $3,190 payable to the e-commerce trading site. Hayashi Enterprises incurred costs of $15,610 to deliver and install the machine in its factory on December 31, 2019 AMOUNT In its GAAP balance sheet at December 31, 2019, Hayashi Enterprises would report the machine at a total value of: (4 points) $656,800 Supporting Calculation Required: $638,000 + $3,190 + $15,610 = $656,800 At December 31, 2020, Hayashi Enterprises recorded depreciation of $82,100 on the machine. In December 2020, Hayashi Enterprises hired the appraiser to estimate the machine's value. At December 31, 2020, the appraiser presented a report indicating the machine had an estimated fair value of $615,000. AMOUNT In its GAAP balance sheet at December 31, 2020, Hayashi Enterprises reported the machine at a value of: (4 points) $656,800 Supporting Calculation Required: According to our virtual lessons the above information is irrelevant because our costs are the value, we put into it. That's what we invested in it, what we were willing to give up

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