List of Accounts:

*Problem 11-3 The following data relate to the Machinery account of Flounder, Inc. at December 31, 2017. Machinery $97,600 $56,120 original cost $62,220 $97,600 Year purchased 2012 2013 2014 2016 Useful life 15,000 hours 15 years 10 years 10 years $6,100 $6,100 Salvage value $3,782 $3,660 Sum-of-the Straight years -digits Activity ne $38,064 2,944 $18,300 Depreciation method Double-declining balance $19,520 Accum. epr through 2017* "In the year an asset is purchased, Flounder, Inc. does not record any depreciation expense on the asset. In the year an asset is retired or traded in, Flounder, Inc. takes a full year's depreciation on the asset. The following transactions occurred during 2018. (a) on May 5, Machine A was sold for $15,860 cash. The company's bookkeeper recorded this retirement in the following manner in the cash receipts journal Cash 15,860 Machinery (Machine A) 15,860 (b) on December 31, it was determined that Machine B had been used 2,562 hours during 2018. (c) On December 31, before computing depreciation expense on Machine C, the management of Flounder, Inc. decided the useful life remaining from January 1, 2018, was 10 years. (d) On December 31, it was discovered that a machine purchased in 2017 had been expensed completely in that year. This machine cost $34,160 and has a useful life of 10 years and no salvage value. Management has decided to use the double-declining-balance method for this machine, which can be referred to as "Machine E