Plz answer part B ASAP!
Current Attempt in Progress Blossom Productions Corp purchased equipment on March 1, 2021. for $49,600. The company estimated the equipment would have a useful life of three years and produce 12,000 units, with a residual value of $10,000. During 2021. the equipment produced 4,800 units. On November 30, 2022, the machine was sold for $18,000 and had produced 6,000 units that year, (a) Your answer is correct Record all the necessary journal entries for the years ended December 31, 2021 and 2022, using the following depreciation methods: (List all debit entries before credit entries. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter for the amounts. Round the depreciation rate in the double-diminishing-balance method to the nearest whole percent. eg. 43% and round depreciation per unit in the units-of-production depreciation method to 2 decimal places, e.g. 2.25 and final answers to 0 decimal places, e.g. 5,275.) (1) Straight-line Account Titles and Explanation Debit Credit Date 2021 Mar. 1 Equipment 49500 000 (1) Straight-line Date Account Titles and Explanation Debit Credit 2021 Mar, 1 Equipment 49600 Cashi 49600 Dec. 31 Depreciation Expense 11000 Accumulated Depreciation Equipment 11000 2022 Nov. 30 Depreciation Experte 12:00 12100 Accumulated Depreciation Equipment (To record depreciation expense) Nov. 30 Cash 18000 Accumulated Depreciation - Equipment 23100 Loss on Disposal 8500 49800 Et (To record the sale of machine) (2) Double-diminishing-balance Date Account Titles and Explanation Debit Credit 2021 Mar. 1 Equipment 49600 cash 19600 Dec. 31 Depreciation Expense 27693 Accumulated Depreciation Equipment 27698 2022 Nov. 30 Depreciation Expense 13455 13455 Accumulated Depreciation Enginment (To record depreciation expense) Nov. 30 cas 18000 Accumulated Depreciation Equipment 51148 Gain on Discos 9548 49600 Equipment (To record the sale of machine) linii nendeni (3) Units-of-Production Date Account Titles and Explanation Debit Credit 2021 Mar. 1 Equipment 49800 Cash 49600 Dec. 31 Depreciation Expense 15840 Accumulated Depreciation - Equipment 15840 2022 Nov. 30 Depreciation Expense 19800 19800 Accumulated Depreciation Equipment (To record depreciation expense) Nov. 30 Cash 18000 Accurate Depreciation Equipment 35640 Equipment 49600 Gain on Discos 4040 (To record the sale of machine) (b) Complete the following schedule for each method of depreciation and compare the total expense over the two-year period. (Round answers to 0 decimal places, e.g. 5,275.) Straight- Line Double-Diminishing Balance Units-of- Production Depreciation expense 2021 $ $ 2022 Total depreciation expense for two years +Loss (or - gain) on disposal = Net expense for two years $ $ e Textbook and Media List of Accounts Save for Later Attempts: unlimited Submit
