please HELP!!!!!!

E9-3 (Algo) Determining Financial Statement Effects of an Asset Acquisition and Straight-Line Depreciation (LO 9-2, LO 9-3) O'Connor Company ordered a machine on January 1 at a purchase price of $30,000. On the date of delivery, January 2, the company paid $8,000 on the machine and signed a long-term note payable for the balance On January 3, it paid $300 for freight on the machine. On January 5, O'Connor paid cash for installation costs relating to the machine mounting to $1,800 On December 31 (the end of the accounting period), O'Connor recorded depreciation on the machine using the straight-line method with an estimated useful life of 10 years and an estimated residual value of $3,200 Required: 1. Indicate the effects (accounts, amounts, and + for increase, - for decreases of each transaction (on January 1.2.3, and 5) on the accounting equation 2. Compute the acquisition cost of the machine 3. Compute the depreciation expense to be reported for the first year, 4. What should be the book value of the machine at the end of the second year? Complete this question by entering your answers in the tabs below. Required Required 2 Required 3 Required 4 Indicate the effects (accounts, amounts, and + for increase. - for decrease) of each transaction on January 1, 2, 3, and 5) on the accounting equation. (Enter any decre minus sign) Date Assets Liabulties Stockholders Equity Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required Roured Indicate the effects (accounts, amounts, and + for increase - for decrease of each transaction on January 1, 2, 3, and 5) on the accounting equation (Enter any decre minus sign) Date Assets Stockholders' Equity January 1 January 2 January 2 January 3 January 3 January January 5 Required 2 > CHIMICULUunny pivu. V ICCUIUCU UCIULI VIIVICU any we Wuy MIVU VIORESOURCU useful life of 10 years and an estimated residual value of $3,200. Required: 1. Indicate the effects (accounts, amounts, and + for increase. for decrease) of each transaction (on January 1, 2, 3, and 5) on the accounting equation. 2. Compute the acquisition cost of the machine. 3. Compute the depreciation expense to be reported for the first year. 4. What should be the book value of the machine at the end of the second year? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Compute the acquisition cost of the machine. Acquisition Cost useful life of 10 years and an estimated residual value of $3,200. Required: 1. Indicate the effects (accounts, amounts, and + for increase, - for decrease) of each transaction (on January 1, 2, 3, and 5) on the accounting equation. 2. Compute the acquisition cost of the machine 3. Compute the depreciation expense to be reported for the first year. 4. What should be the book value of the machine at the end of the second year? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Requirdd 3 Required 4 Compute the depreciation expense to be reported for the first year. (Do not round Intermediate calculations.) Depreciation Expense CHUMI WOULUULy Peru VIIVIUUUMLULUI Lay Me Lui MM WIR VORU useful life of 10 years and an estimated residual value of $3,200. Required: 1. Indicate the effects (accounts, amounts, and + for increase, - for decrease) of each transaction (on January 1, 2, 3, and 5) on the accounting equation. 2. Compute the acquisition cost of the machine 3. Compute the depreciation expense to be reported for the first year, 4. What should be the book value of the machine at the end of the second year? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Requirds 4 What should be the book value of the machine at the end of the second year? (Do not round Intermediate calculations.) Book Value