Northern Corporation purchased and placed in service a manufacturing machine at the beginning of the year 1 at a cost of $100,000. The machines useful life is estimated at 10 years, or 500,000 units of product, with a $5,000 salvage value.

1. Prepare the journal entry to record the acquisition of the manufacturing machine.

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b. Determine the depreciation expense on the machine at the end of year 1 year under the

straight-line method of depreciation. Also, record the journal entry to record depreciation expense.

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c. Same facts as above, but now determine the depreciation expense on the machine at the end of year 1 year under the units-of-production method of depreciation. Assume 70,000 units of product were manufactured in year 1. Also, record the journal entry to record depreciation expense.

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d. Same facts as above, but now Determine the depreciation expense on the machine at the end of year 1 year under the Double Declining Balance method of depreciation. Also, record the journal entry to record depreciation expense

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