On January 1, 2022, Grouper Company purchased the following two machines for use in its production process. Machine A: The cash price of this machine was $50,000. Related expenditures also paid in cash included: sales tax $3,700, shipping costs $100, insurance during shipping $60, installation and testing costs $70, and $100 of oil and lubricants to be used with the machinery during its first year of operations. Grouper estimates that the useful life of the machine is 5 years with a $5,050 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 $180,000. Grouper 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. (a) Your answer is partially correct. Prepare the following for Machine A. (Round answers to O decimal places, eg. 5,125. 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 0 for the amounts.) 1. The journal entry to record its purchase on January 1,2022. Prepare the following for Machine A. (Round answers to 0 decimal places, eg. 5,125. 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 0 for the amounts.) 1. The journal entry to record its purchase on January 1,2022. 2. The journal entry to record annual depreciation at December 31, 2022. Calculate the amount of depreciation expense that Grouper should record for Machine B each year of its useful life under the following assumptions. (Round depreciation cost per unit to 2 decimal places, e.g. 12.25. Round final answers to 0 decimal places, e.g. 2,125.) (1) Grouper uses the straight-line method of depreciation. (2) Grouper uses the declining-balance method. The rate used is twice the straight-line rate. (3) Grouper uses the units-of-activity method and estimates that the useful life of the machine is 135,920 units. Actual usage is as follows: 2022,47,500 units; 2023,37,500 units; 2024,27,500 units; 2025,23,420 units. Which method used to calculate denreciation on Machine B reports the highest amount of depreciation expense in year 1 (2022) The highest amount in year 4 (2025)? The highest total amount over the 4 -year period? List of Accounts Attempts: 0 of 2 used On January 1, 2022, Grouper Company purchased the following two machines for use in its production process. Machine A: The cash price of this machine was $50,000. Related expenditures also paid in cash included: sales tax $3,700, shipping costs $100, insurance during shipping $60, installation and testing costs $70, and $100 of oil and lubricants to be used with the machinery during its first year of operations. Grouper estimates that the useful life of the machine is 5 years with a $5,050 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 $180,000. Grouper 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. (a) Your answer is partially correct. Prepare the following for Machine A. (Round answers to O decimal places, eg. 5,125. 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 0 for the amounts.) 1. The journal entry to record its purchase on January 1,2022. Prepare the following for Machine A. (Round answers to 0 decimal places, eg. 5,125. 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 0 for the amounts.) 1. The journal entry to record its purchase on January 1,2022. 2. The journal entry to record annual depreciation at December 31, 2022. Calculate the amount of depreciation expense that Grouper should record for Machine B each year of its useful life under the following assumptions. (Round depreciation cost per unit to 2 decimal places, e.g. 12.25. Round final answers to 0 decimal places, e.g. 2,125.) (1) Grouper uses the straight-line method of depreciation. (2) Grouper uses the declining-balance method. The rate used is twice the straight-line rate. (3) Grouper uses the units-of-activity method and estimates that the useful life of the machine is 135,920 units. Actual usage is as follows: 2022,47,500 units; 2023,37,500 units; 2024,27,500 units; 2025,23,420 units. Which method used to calculate denreciation on Machine B reports the highest amount of depreciation expense in year 1 (2022) The highest amount in year 4 (2025)? The highest total amount over the 4 -year period? List of Accounts Attempts: 0 of 2 used