PROBLEM $8-3($LO$2,6)$

Janz Corporation purchased a piece of machinery on January $1,2023.$ The company's year$-$end is December $31.$ The following information is available regarding the machinery:

Estimated Estimated

$\frac{\text{C}\text{o}\text{s}\text{t}}{\text{\$}95,000},\frac{\text{U}\text{s}\text{e}\text{f}\text{u}\text{l}\text{L}\text{i}\text{f}\text{e}}{9,000\text{u}\text{n}\text{i}\text{t}\text{s}}\frac{\text{R}\text{e}\text{s}\text{i}\text{d}\text{u}\text{a}\text{l}\text{V}\text{a}\text{l}\text{u}\text{e}}{\text{\$}5,000}$ Method

Units$-of-$Production

Assume actual output was:

$\backslash$table$[[$Year$,,\backslash$table$[[$Actual Units$],[$Produced$]]],[2023,,2,000],[2024,,3,000],[2025,,2,800],[2026,2,900,]]$

The machinery was sold on January $15,2027$ for $$12,000.$

Required:

Calculate the depreciation expense for each of $2023$ through to $2026$ inclusive.

What is the balance of accumulated depreciation at the end of $2026?$

What is the carrying amount of the machinery shown on the balance sheet at the end of $2026?$

Prepare the entry on January $15,2027$ to record the sale of the machinery.