Question 1 Sheridan United purchased a machine on account on April 2, 2018 at an invoice price of $169,950. On April 4, paid $1,900 for delivery of the machine. A one-year, $3,760 insurance policy on the machine was purchased on April 5. On April 18, Sheridan paid $7,790 for installation and testing of the machine. The machine was ready for use on April 30 Sheridan estimates the machine's useful life will be five years or 6,141 units with a residual value of $78,470. Assume the machine produces the following numbers of units each year: 900 units in 2018; 1,537 units in 2019: 1,495 units in 2020; 1,174 units in 2021; and 1,035 units in 2022. Sheridan has a December 31 year end. (2) Double-diminishing-balance method Year Opening Carrying Amount Depreciation Expense Accumulated Depreciation Carrying Amount 2018 T 379,640 e 1 51,856 151,856 227,784 2019 227,784 242,970 136,670 in all 2020 136,670 297,638 82,002 2021 82,002 w in LOJN00 301,170 78,470 T 2022 78,470 IR OOO 78,470 2023 T 78,470 78,470 T