Please help me complete this.

I have been struggling for quite some time, and mainly I need the answer.

Thank you !

1. Inverness Corporation purchased a new machine on January 1, 2019. The machine cost $100,000 and had an estimated salvage value of $20,000. Inverness estimated that the machine will have a useful life of 5 years or 200,000 units. Inverness uses the machine in its manufacturing operations and produces 40,000 units in Year 1, 130,000 units in Year 2 and 15,000 units in Year 3, 10,000 units in Year 4 and 5,000 units in Year 5. Required: Compute depreciation expense for Years 1 through 3 using the following methods: (5 pts) (i) straight line units-of-production (iii) double declining balance YEAR Straight Line Method Depreciation Expense Units of Production Method Double Declining Balance Method 1 2 3 Write the Journal Entry to record Depreciation expense for year 1 using straight-line method(1 pt) Date Account Name Debit Credit 12/31/2019 2. On January 1, Barra Corporation purchased land, a building and 2 machines (machine 1 & machine 2) for a lump-sum price of $1,000,000, paying 30% in cash and signing a note payable for the remainder. An independent appraisal revealed the following market values for the assets: Land $600,000 Building $300,000 Machine 1 $180,000 Machine 2 $120,000 Required: Show the journal entries to record the purchase of the assets. (2 pts) Date Account Name Debit Credit 1/1 3. N.E. Company purchased a new machine for $50,000 cash on June 30, 2018. N.E. Company estimates that it will use the machine for 5 years and that at the end of its useful life the residual value will be $5,000. N.E. Company is using straight-line deprecation method. On September 30, 2019 N.E. Company sold the machine for $27,000 cash. Prepare all journal entries related to the machine for 2018 and 2019, as per given dates below.(2 pts) Account Name Debit Credit Date 6/30/2018 To record purchase of new machine 12/31/2018 To record depreciation for year 9/30/2019 To record depreciation for 9 months in 2019 9/30/2019 To record sale of Machine