lubricants to be use, insurance during shipping $$110,$ installation and testing costs $$90,$ and $$100$ of oil and lubricants to be used with the machinery during its first year of operations. Metlock estimates that the iseful mife of the machine is $5$ years with a $$4,050$ salvage value remaining at the end of that time period. Assume that the straight$-$line method of depreciation is used.

Machine B: The recorded cost of this machine was $$180,000.$ Metlock estimates that the useful life of the machine is $4$ years with a $$16,980$ salvage value remaining at the end of that time period.

$($a$)$

Your answer is correct.

Prepare the following for Machine A$.($Credil account titles ore automatically indented when amount is entered. Do not indent manually. If no entry is required, select $"$No Enty" for the occount titles and enter $0$ for the amounts.$)$

The journal entry to record its purchase on January $1,2022$

The journal entry to record annual depreciation at December $31,2022.$

No$.$ Account Titles and Explanation

Debit

Credit

Equlpment

Cash

$53\mathrm{.}200$

Depreciation Expense

Accumulated Depredation$-$Equipment

$9\mathrm{.}830$

eTextbook and Media

Assistance Used

eTextbook

List of Accounts

Attempts: $1$ of $2$ used

$($b$)$

Your answer is incorrect.

Calculate the amount of depreciation expense that Metlock should record for Machine B each vear of its useful life under the following assumptions. $($Round depreciation cost per unit to $2$ decimal places, es$.12\mathrm{.}25.$ Round final answers to $0$ declmal places, es$.2,125.)$

$(1)$ Metlock uses the straight$-$line method of depreciation.

$(2)$ Metlock uses the decfining$-$balance method. The rate used is twice the straight$-$line rate.

$(3)$ Metlock uses the units$-$of$-$activity method and estimates that the useful life of the machine is $143,000$ units. Actual usage is as follows: $2022,49,500$ units; $2023,39,500$ units; $2024,29,500$ units; and $2025,24,500$ units.

Machine A:

The cash price of this machine was $$49,500.$ Related expenditures also paid in cash included: sales tax $$3,400.$ shlpping costs $$100,$ insurance during shipping $$110,$ installation and testing costs $$90,$ and $$100$ of oil and lubricants to be used with the machinery during its first year of operations. Metlock estimates that the useful life of the machine is $5$ years with a $$4,050$ salvage value remaining at the end of that time period. Assume that the straight$-$line method of depreciation is used.

Machine B: The recorded cost of this machine was $$180,000.$ Metlock estimates that the useful life of the machine is $4$ years with a $$16,980$ salvage value remaining at the end of that time period.

$($a$)$

Your answer is correct.

Prepare the following for Machine A$.($Credl account titles ore automatically indented when amount is entered. Do not indent manually. If no entry is required, select $"$No Entry" for the occount titles and enter $0$ for the amounts.$)$

The journal entry to record its purchase on January $1,2022.$

The fournal entry to record annuat depreciation at December $31,2022.$

No$.$ Account Titles and Explanation

Debit

Credit

Equipment

$53\mathrm{.}200$

Cash

$53\mathrm{.}200$

Depreciation Expense

$9\mathrm{.}830$

Accumulated Deprediation$-$Equipment

$9,830$

eTextbook and Media

Assistance Used

eTextbook

List of Accounts

Attempts: $1$ of $2$ used

$($b$)$

Your answer is incorrect.

Calculate the amount of depreciation expense that Metlock should record for Machine B each year of its useful life under the following assumptions. $($Round depreciation cost per unit to $2$ decimal places es$.12\mathrm{.}25.$ Round final answers to $0$ decimal places, es$.2,125.)$

$(1)$ Metlock uses the straight$-$line method of depreciation.

$(2)$ Metlock uses the declining balance method. The rate used is twice the straight$-$line rate.

$(3)$ Metlock uses the units$-$of$-$activity method and estimates that the useful life of the machine is $143,000$ units. Actual usage is as follows: $2022,49,500$ units; $2023,39,500$ units; $2024,29,500$ units; and $2025,24,500$ units.

$\backslash$table$[[2022,$Depreciation Expense,,$],[1,2023,2024,2025],[$$$,$$$,$$$,$$