PB9-1 (Algo) computing acquisition cost and recording depreciation under three alternative methods

Required information PB9-1 (Algo) Computing Acquisition Cost and Recording Depreciation under Three Alternative Methods [LO 9-2, LO 9-3) [The following information applies to the questions displayed below.) At the beginning of the year, Canary.com bought a shed, a machine, and a trailer The shed initially cost $20,300 but had to be renovated at a cost of $540. The shed was expected to last 7 years, with a residual value of $1,450. Repairs costing $360 were incurred at the end of the first year of use. The machine cost $11,250, and is estimated to have a total life of 40,000 hours and residual value of $900. The machine was actually used 2,000 hours in year 1 and 4,000 hours in year 2. The trailer cost $11,300 and was expected to last 4 years, with a residual value of $2,000. PB9-1 (Algo) Part 1 Required: 1. Compute the amount to be capitalized for the shed, Total cost $ 0 Journal entry worksheet