Question 2 of 5 - l 4.2 '5 View Policies Current Attempt in Progress Carla Vista Co. purchased equipment on March 31, 2021, at a cost of $224,000. Management is considering the merits of using the diminishing-balance or units-of-production method of depreciation instead of the straight-line method, which it currently uses for other equipment. The new equipment has an estimated residual value of $8,000 and an estimated useful life of either four years or 80,000 units. Demand for the products produced by the equipment is sporadic so the equipment will be used more in some years than in others. Assume the equipment produces the following number of units each year: 14,800 units in 2021; 20,400 units in 2022; 19,800 units in 2023; 20,000 units in 2024; and 5,000 units in 2025. Carla Vista has a December 31 year end. (a) Prepare separate depreciation sched ules for the life of the equipment using: {Round depreciation perunlt to 2 decimal places, 8.3. 5.28 and nal answers to 0 decimal places. e3. 5,275.) Straightline method: Depreciable Depreciation Accumulated Carrying Year Amount Expense Depreciation Amount MESS: - /4.2 Question 2 of 5 Double-diminishing-balance method: Opening Carrying Depreciation Accumulated Carrying Amount Year Amount Expense Depreciation $ 2021 $ $ $ 2022 2023 2024 2025 Units-of-production method: Depreciation Accumulated Carrying Units-of-Production Expense Depreciation Amount Year $ $ 2021 $ 2022 2023 2024 2025Question 4 of 5 -/4.3 E |.| 1 of $40,370 and borrowed the remalnder from the bank. Sept. Purchased a trademark for $71,360 cash. As the purchase was being nalized, spent $36,650 cash in legal fees to 1 successfully defend the trademark in court. (a) Prepare the entries to record the above transactions. (List all debit entries befae 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 0 for the amounts. Record journal entries in the order presented in the problem.) Date Account Titles and Explanation Debit Credit -:: :: -:: :: :: -:: :: (To record purchase of trademark) -:: :: (To record costs incurred to defend trademark) Question 3 of 5 - /4.3 View Policies Current Attempt in Progress Ivanhoe uses the diminishing-balance method at one times the straight-line depreciation rate. Ivanhoe Limited purchased delivery equipment on March 1, 2019, for $141,250 cash. At that time, the equipment was estimated to have a useful life of five years and a residual value of $10,710. The equipment was disposed of on November 30, 2021. Ivanhoe uses the diminishing-balance method at one times the straight-line depreciation rate, has an August 31 year end, and makes adjusting entries annually. (a) Record the acquisition of equipment on March 1, 2019. (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 0 for the amounts.) Date Account Titles and Explanation Debit Credit Mar. 1