Question 1: DuPage Company purchases a factory machine at a cost of 18,000 on January 1, 2014. DuPage expects the machine to have a residual value of 2,000 at the end of its 4-year useful life. During its useful life, the machine is expected to be used 160,000 hours. Actual annual hourly use was 2014, 40,000; 2015, 60,000; 2016, 35,000; and 2017, 25,000. Instructions Prepare depreciation schedules for the following methods: (a) straight-line, (b) units-of- activity, and (c) declining-balance using double the straight-line rate. Question 2: E9-12 Francis Company owns equipment that cost $50,000 when purchased on January 1, 2011. It has been depreciated using the straight-line method based on estimated residual value of $8,000 and an estimated useful life of 5 years. Instructions Prepare Francis Company's journal entries to record the sale of the equipment in these four independent situations. (a) Sold for $28,000 on January 1, 2014. (b) Sold for $28,000 on May 1, 2014 (c) Sold for $11,000 on January 1, 2014. (d) Sold for $11,000 on October 1, 2014