Please help me with question 6 and 7! I don't understand what I'm doing... Thank you!

- ' ' ' un vuluc Ol ' ' ' . t 1 ' 'J N - u-'uu'u "lu. " hu' 3 wo] acsklcmuo" mm? IL llldLllltlL alter three years with the declining tat lS tl ' ' luc o ' ' ' ' ' 4. It the machine was used il um mathmcry "her "We you" Wim "'"igm'linc if i ri" be under the uni 0 Produce and sell 48,()00 Unils i" 2016 What w'm'd am 1 s of production method? ' le book Vu Question 5 Sin] lC CO . ' estiiiimcd fuelQW'CK'tllipitieiit on January 1, 2016 for St'iOOJJOO. 'l'he equipment has an approximately 150 000 -1 'Cfsllll'ldlcd reSJdual valtieot $60:0()(l and Will allow Sllnplc to produce [mitsmfpmduuion' m 'u qzlgb-'x Sample 5 accountant IS consxdcring whether to use the straight-line or the process the ' ' c to to deprecmte the assets. Because the company is beginning a new production ' ululpment Will be used to produce 10,000 squrges m 2016, but production subsequent to 2016 will increase by 10,000 squiges each year- Required Calculate the depreciation expense, the accumulated depreciation, and the net book value ofthe equipment under both methods for each ofthe five years ofthe asset's life. Question 6 Sonic Corporation purchased a machine that had an original cost of$60,000 and an estimated residual value of$10,000. The useful life was expected to be 8 years and straight-line depreciation is used. At the end of 2015, the book value ofthe machine was $35,()00. Soule sold the machine for S32,000 cash on October 1, 2016. Required: A. Prepare the journal entry to record depreciation for 2016 up to the date of sale. Round the amount to the nearest dollar. B. Prepare the journal entry to record the sale of the machine. Question 7 Tweed Feed & Seed purchased a new machine on January 1, 2017: Cost when acquired $26,000 Estimated residual value . LOGO Estimated useful life 10 years Accumulated depreciation at the end of year 5 (assume straight-line depreciation) l2,000 It is now the beginning of year 6 and the management reevaluated the estimates related to the machine. . Compute the depreciation expense for year 6 under each of the following indgp endent cases: ' Case Event Depreciation Exp The estimated total useful life is changed to 15 years A B The residual value is changed to $1,000; usefiul life unchanged. C The estimated total useful life is changed to 7 years and the residual value is changed to $3,000 x