Instructions New lographiquimeringured at a cost of $40.000 on March 1 at the beginning of fiscal yow, has noted ve years and animated $105.750. The manager requested information regarding the effect of alternative methods on the amount of depreciation experie cache On the basis of the dulapsed to manager, the double declining balance method was selected in the first week of the year on March 4, the equipment was sold to $151 924 Requiredi 1. Determine the annual depreciation expanse for each of the estimated five years of the accumulated precation the end of each year and the book of the equipment arme end of each year by (a) the thoda double-declining balance method Round your answers to the rear whole dollar 2. Joumare the entry to record the sale assuming the manager chose the double declining balance meno Refer to the Chart of Accounts for exact wording of accounts 3. Jaunate the enty to record the salon (2. assuming that the equipment was sold for $105.874 stead of $181.92M. Peter to the Chart of Accounts for exact wording of accounts st Chart of Accounts CHART OF ACCOUNTS ew 10 General Ledger man ASSETS REVENUE nth 110 Cash 410 Sales 111 Petty Cash 610 Interest Revenue 112 Accounts Receivable 620 Gain on Sale of Delivery Truck 621 Gain on Sale of Equipment 114 Interest Receivable 115 Notes Receivable EXPENSES 116 Merchandise Inventory 117 Supplies 119 Prepaid Insurance 510 Cost of Merchandise Sold 120 Land 123 Delivery Truck 124 Accumulated Depreciation-Delivery Truck 125 Equipment 126 Accumulated Depreciation-Equipment 130 Mineral Rights 131 Accumulated Depletion 520 Salaries Expense 521 Advertising Expense 522 Depreciation Expense-Delivery Truck 523 Delivery Expense 524 Repairs and Maintenance Expense 529 Selling Expenses 531 Rent Expense 532 Depreciation Expense-Equipment 533 Depletion Expense 132 Goodwill 122 Datante 534 Amortization Expense-Patents 124 Accumulated Depreciation-Delivery Truck 125 Equipment 126 Accumulated Depreciation-Equipment 130 Mineral Rights 523 Delivery Expense 524 Repairs and Maintenance Expense 529 Selling Expenses 531 Rent Expense 532 Depreciation Expense-Equipment 131 Accumulated Depletion 132 Goodwill 133 Patents LIABILITIES 533 Depletion Expense 534 Amortization Expense-Patents 535 Insurance Expense 536 Supplies Expense 539 Miscellaneous Expense 710 Interest Expense 720 Loss on Sale of Delivery Truck 721 Loss on Sale of Equipment 210 Accounts Payable 211 Salaries Payable 213 Sales Tax Payable 214 Interest Payable 215 Notes Payable EQUITY 310 Common Stock 311 Retained Earnings 312 Dividends a Straight-line method Accumulated Depreciation, End of Year Year Depreciation Expense Book Value, End of Year 1 $ 2 3 4 5 b. Double-declining balance method Accumulated Depreciation, End of Year Year Depreciation Expense Book Value, End of Year 1 2 3 2. On March 4. joumalize the entry to record the sale assuming the manager chose the double declining balance meinod Reler to the Chart of Accounts for exact wording of account titles GE JOURNAL ACCOUNTING EQUATION DATE DESCRIPTION POSE REE DIT CREDIT am HES TOUTY I 3. On March 4 journaize the entry to record the sale in (2) assuring that the equipment was sold for $105,874 instead of 5151.924. Heter to the Chart of Account for exact wording of account ins PAGE 1 3. On March 4 journalize the entry to record the sale in (21. assuming that the equipment was sold for $105,874 instead of 515104. Refer to the Chart of Accounts for en wording of account titles INGE ACCOUNTING EQUATION JOURNAL DESCRIPTION DATE POST DET CREDIT ASSETS LIABILITIES EQUITY 1 2 1 4