Please just answer part b and c!!Please just answer part b and c!!Please just answer part b and c!!Please just answer part b and c!!Please just answer part b and c!!Please just answer part b and c!!Please just answer part b and c!!Please just answer part b and c!!Please just answer part b and c!! 
Please just answer part b and c!!Please just answer part b and c!!Please just answer part b and c!!Please just answer part b and c!!Please just answer part b and c!!Please just answer part b and c!!Please just answer part b and c!!Please just answer part b and c!!Please just answer part b and c!!Please just answer part b and c!!
Part a answers are as followings
Question 3 (34 marks) HOV TV Limited purchased a machine on 1 April 2021 at a cost of $468,000. The estimated useful life of this machine was 5 years and estimated residual value was $24,000. The engineers estimates that the machine can produce 300,000 units during the useful life. (Workings are required for the answers below). Required: (a) Compute the depreciation expense of the machine at the year-end on 31 December for 2021 and 2022 by using the methods below, (i) Straight-line (with depreciation calculated to the nearest whole month), (ii) 200\%-declining-balance (with half-year convention), (iii) Unit-of-output (number of units produced: 40,000 in 2021; 28,000 in 2022). (b) Assume that HOV TV Limited adopted 200\%-declining-balance (with half-year convention) as in (a)(ii) above. On 1 October 2022, the company sold the machine for $200,000 cash. The Company adjusts the depreciation expenses annually in December. (i) Prepare journal entry to record the depreciation expenses in 2022. (4 marks) (ii) Prepare journal entry to record the disposal on 1 October 2022. (8 marks) (c) HOV TV Limited later purchased another new lighting \& sound equipment on Aug 3 2022 and placed it in service on September 12022 . The following costs were incurred in acquiring the equipment: Determine the amount to be recorded as cost for this new equipment. Show your workings. (4 marks) ... END OF ASSIGNMENT ... Cost 468,000 useful life 5 years Salvage value 24,000 Estimated Output 300000 units REQUIREMENT a. Depreciation of machine for the year 31 Dec 2021 and 2022 (I) Straight line method = (cost - residual value)/ estimated useful life =46800024000/5 =88800 per annum but for year 2021 only 9 months are used so, depreciation for 2021=88800/129 months =$66,600 for year 2022 depreciation =$88,800 (II) under double declining balance method (with half year convension) means, 200% for 5 years so for 1 year it will be 200/5 years =40% and if put to use is less than 1 year only half of depreciation will be cons means on 2021 depreciation will be 46800020% =$93600 on 2022 depreciation will be =(46800093600)40%=$149,760 (III) depreciation under unit of output method = (cost of asset residual value )/ total estimated units =46800024000/300000 units =1.48 per unit will be the depreciation for a unit so depreciation for 2021 =1.4840000 units =$59,200 depreciation for 2022 =1.4828000 units =$41,400
