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Need help solving the above problems. Here is the previous part to the problem which I already completed and got correct. TO EVERYONE IN THE
Need help solving the above problems. Here is the previous part to the problem which I already completed and got correct.
TO EVERYONE IN THE COMMENTS: THIS IS ALL INFO I WAS PROVIDED. I CANNOT PULL ANY MORE NUMBERS FROM NON EXISTENT VALUES.
1. Compute the cost of each machine 2. Prepare the journal entry to record depreciation expense at the end of year 1, assuming the following Estimates Machine Life Residual Value Depreciation Method 5 years 20,000 hours 10 years $2,500 2,100 2,000 Straight-line Units-of-production Double-declinina-balance Complete this question by entering your answers in the tabs below Required 1 Required 2 Prepare the journal entry to record depreciation expense at the end of year 1, assuming the following: (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field. Do not round intermediate calculations.) View transaction list View journal entry worksheet No Transaction General Journal Debit Credit Depreciation Expense Accumulated Depreciation Machine A Accumulated Depreciation Machine B Accumulated Depreciation - Machine C K Required 1 Required 2 0 Required information The following information applies to the questions displayed below. Bridge City Consulting bought a building and the land on which it is located for $135,000 cash. The land is estimated to represent 50 percent of the purchase price. The company paid $6,000 for building renovations before it was ready for use. Required: 2. Prepare the journal entry to record all expenditures. Assume that all transactions were for cash and they occurred at the start of the year. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list View journal entry worksheet No Transaction General Journal Debit Credit Land 67,500 Buildings 73,500 Cash 141,000Step by Step Solution
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