On January 1 , 2 0 2 2 , Riverbed Company purchased the following two machines for
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Question:
On January Riverbed Company purchased the following two machines for use in its production process.
Machine A: The cash price of this machine was $ Related expenditures also paid in cash included: sales tax $
shipping costs $ insurance during shipping $ installation and testing costs $ and $ of oil and
lubricants to be used with the machinery during its first year of operations. Riverbed estimates that the useful life of
the machine is years with a $ salvage value remaining at the end of that time period. Assume that the
straightline method of depreciation is used.
Machine B: The recorded cost of this machine was $ Riverbed estimates that the useful life of the machine is years
with a $ salvage value remaining at the end of that time period.
a
Prepare the following for Machine ARound answers to decimal places, eg List all debit entries before credit entries. Credit
account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select No Entry" for the
account titles and enter for the amounts.
The journal entry to record its purchase on January
The journal entry to record annual depreciation at December
No Account Titles and Explanation
Debit
Credit
Posted Date: