ods/Assign%20512122.pdf versity of Technd Applied Sciences (UTASHCT) Department of Studies Intermediate Awning Aviament - 15 marks Student ID Name of the student 1. On January 1, 2017. XYZ Company purchased the following two machines to we in its production process Machine A: The price of this machine was 548,000 Related expenditures included sales tax 51.700, shipping costs $150, insurance during whipping 580, installation and testing costs $70, and $100 of oil and lubricants to be used with the machinery during its finst year of operations XYZ estimates that the useful life of the machine is 5 years with a $5,000 salvage value remaining at the end of that time period. Assume that the straight-linc method of depreciation is used Machine B: The recorded cost of this machine was $180,000. XYZ estimates that the useful life of the machine is 4 years with a $10,000 salvage Value remaining at the end of that time period Instructions A. Prepare the following for Machine A. 2. The journal entry to record its purchase on January 1, 2017 b. The journal entry to record annual depreciation at December 31, 2017 B. Calculate the amount of depreciation expense that XYZ should record for Machine B, each year of its useful life under the following assumptions. C.XYZ uses the declining-balance method, XYZ uses the ants-of-activity method and estimates that the whol life of the machine is 125.000 units Actual usage is as follow.2017.45.000 2018,35.000 nits2019.25.000 sites:2020, 20,000 o 100 3 3 30+ FB + P 65 F7 F8 F9 F10