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please solve thank u Required Information PA9-1 (Algo) Computing Acquisition Cost and Recording Depreciation under Three Alternative Methods [LO 9-2, LO 9-3] The following information
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Required Information PA9-1 (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, Algernon Companies bought three used machines. The machines immediately were overhauled, were installed, and started operating. Because the machines were different, each was recorded separately in the accounts. Details for Machine A are provided below. Cost of the asset $10,800 Installation costs 988 Renovation costs prior to use 1,140 Repairs after production began 870 PA9-1 (Algo) Part 1 Required: 1. Compute the amount to be capitalized for Machine A Total cost $ 0 Required information PA9-1 (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, Algernon Companies bought three used machines. The machines immediately were overhauled, were installed, and started operating. Because the machines were different, each was recorded separately in the accounts. Details for Machine A are provided below. Cost of the asset $10,800 Installation costs Renovation costs prior to use 1,140 Repairs after production began 870 980 PA9-1 (Algo) Part 2 2. Compute year 2 straight-line depreciation expense for Machine A, assuming an estimated life of 4 years and $1,000 residual value. Year 2 straight-line depreciation expense PA9-1 (Algo) Part 3 lor 3. Prepare the journal entry to record yoar 2 straight-line depreciation expense for Machine A, assuming an estimated life of 4 years and $1.000 residual value. (If no entry is required for a transaction/event, select "No Journal Entry Required" In the first account field) View transaction for took int Journal entry worksheet Record the year 2 depreciation expense for Machine B. Note: Enter debits before credits Transaction General Journal Debit Credit 1 07 Required information PA9-1 (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, Algernon Companies bought three used machines. The machines immediately were overhauled, were installed, and started operating. Because the machines were different, each was recorded separately in the accounts. Details for Machine A are provided below. Cost of the asset $10,800 Installation costs 980 Renovation costs prior to use 1,140 Repairs after production began 870 PA9-1 (Algo) Part 6 6. Computer years 1 and 2 double-declining-balance depreciation expense for Machine C, which has a cost of $27,200, an estimated life of 10 years, and $1,400 residual value. Year 1 Year 2 Double declining balance PA9-1 (Algo) Part 7 7. Prepare the journal entry to record year 2 double-declining balance depreciation expense for Machine C, which has a cost of $27.200, an estimated life of 10 years, and $1,400 residual value. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet Record the year 2 depreciation expense for Machine C. Note: Enter debits before credits Transaction General Journal Debit Credit Step by Step Solution
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