Required information [The following information applies to the questions displayed below. At the beginning of the year, Feliz Industries bought a shed, a machine, and a trailer. The shed initially cost $21,200 but had to be renovated at a cost of $720. The shed was expected to last 7 years, with a residual value of $1,900. Repairs costing $540 were incurred at the end of the first year of use. The machine cost $11,700, and is estimated to have a total life of 40,000 hours and residual value of $900. The machine was actually used 2,000 hours in year 1 and 4,000 hours in year 2. The trailer cost $12,200 and was expected to last 4 years, with a residual value of $2,000. Required: 1. Compute the amount to be capitalized for the shed. Total cost $ 0 Journal entry worksheet A Record the year 2 straight-line depreciation expense for the shed. Note: Enter debits before credits. General Journal Debit Credit Transaction 1 Record entry Clear entry View general Journal 3. Compute year 2 units-of-production depreciation expense for the machine. (Do not round intermediate calculations.) Year 2 units-of-production depreciation expense View transaction list Journal entry worksheet A Record the year 2 depreciation expense for the machine. Note: Enter debits before credits. General Journal Debit Credit Transaction 1 Record entry Clear entry View general Journal 5. Compute years 1 and 2 double-declining-balance depreciation expense for the trailer. Year 1 Year 2 Double-declining-balance View transaction list Journal entry worksheet