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Problem 10-1 (Type your work) Mayr Inc. purchased a machine for its factory on June 1,2018 for $110,000. The machine is expected to have an

Problem 10-1 (Type your work) Mayr Inc. purchased a machine for its factory on June 1,2018 for $110,000. The machine is expected to have an estimated useful life of ten years with a salvage value of $10,000. Required: Compute the depreciation for 2018 and 2019 using 1. The straight-line method 2. Calculate the book value for 2018 3. Prepare the depreciation journal entry at December 31,2018

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