ringfield Corporation purchases a new machine on March 3, 20X4 for $35,600 in cash. It pay an additional $3,400 to transport and set up the machine. Springfield's accountant determines that the equipment has no residual value and that the useful life is five years. It is expected to generate 2,400,000 units during its life. Assume Springfield employs the half-year convention. a. Record the purchase of the machine. b. Assume that Springfield uses the straight-line method of depreciation. Record depreciation expense for the first two years of the machine's life. c. Assume that Springfield uses the double-declining balance method of depreciation. Record depreciation expense for the first two years of the machine's life. d. Assume that Springfield uses the units-of-production method of depreciation. During Year 1 the machine produces 600,000 units. During Year 2, the machine produces 578,000 units Record depreciation expense for the first two years of the machine's life. 2 ameplay Company operates in mall locations and sells videogame equipment and games. The company purchased furniture and fixtures to use in one of its stores for $440,000 in January of 20x5 The furniture and fixtures were being depreciated using the straight-line method over ten years with a residual value of $10,000. In December 20X into an exchange agreement with Allero Corporation. Allero agree fair value of $200,000 and cash of $50,000 in exchange for the furniture and fixtures from this stor The furniture and fixtures have an estimated fair value of $250,000 on the date of exchange. 9, Gameplay decided to close the location and entered d to give Gameplay vehicles with a a. Make the depreciation entry for the furniture and fixtures that would be necessary in December 20X9, assuming that no entries have been made during the year b. Determine the book value of the furniture and fixtures on the date of exchange. c. Record the journal entry Gameplay would make for this exchange. d. Where would Gameplay report the gain or loss you determined in part c. above? ld be the next "big thing