Required Information Use the following information for the Exercises below. (Algo) [The following information applies to the questions displayed below] Ramirez Company installs a computerized manufacturing machine in its factory at the beginning of the year at a cost of $84,200. The machine's useful life is estimated at 20 years, or 391,000 units of product, with a $6,000 salvage value. During its second year, the machine produces 33,100 units of product. Exercise 8-4 (Algo) Straight-line depreciation LO P1 Determine the machine's second-year depreciation and year end book value under the straight-line method. Straight-Line Depreciation Choose Denominator: Estimated useful life (years) Choose Numerator: Cost minus salvage $ Year 2 Depreciation Year end book value (Year 2) 19.550/ S 20 . M Annual Depreciation Expense Depreciation expense $ 978 978 Diaz Company owns a machine that cost $125.500 and has accumulated depreciation of $90,700. Prepare the entry to record the disposal of the machine on January 1 in each separate situation. 1. The machine needed extensive repairs and was not worth repairing Diaz disposed of the machine, receiving nothing in return. 2. Diaz sold the machine for $16,100 cash. 3. Diaz sold the machine for $34,800 cash. 4. Diaz sold the machine for $40.100 cash View transaction list Journal entry worksheet 1 2 Date January 01 3 Record the disposal of the machine receiving nothing in return. General Journal Debit Credit Journal entry worksheet