Rizio Co. purchases a machine for $15,000, terms 1/10, n/60, FOB shipping point. The seller prepaid the $339 freight charges, adding the amount to the invoice and bringing its total to $15,339. The machine requires special steel mounting and power connections costing $1,037. Another $489 is paid to assemble the machine and get it into operation. In moving the machine to its steel mounting. $225 in damages occurred. Materials costing $40 are used in adjusting the machine to produce a satisfactory product. The adjustments are normal for this machine and are not the result of the damages. Complete the below table to calculate the cost recorded for this machine. (Rizio pays for this machine within the cash discount period.) Cala Manufacturing purchases a large lot on which an old building is located as part of its plans to build a new plant. The negotiated purchase price is $277,000 for the lot plus $172,000 for the old building. The company pays $44,400 to tear down the old building and $65,635 to fill and level the lot. It also pays a total of $1,411,083 in construction costs--this amount consists of $1,327,300 for the new building and $83,783 for lighting and paving a parking area next to the building. Prepare a single journal entry to record these costs incurred by Cala, all of which are paid in cash, Use the following information for the Exercises below. 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 $49,000. The machine's useful life is estimated at 10 years, or 400,000 units of product, with a $9,000 salvage value. During its second year, the machine produces 34,000 units of product. Exercise 8-4 Straight-line depreciation LO P1 Determine the machine's second-year depreciation and year end book value under the straight-line method. Use the following information for the Exercises below. 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 $49,000. The machine's useful life is estimated at 10 years, or 400,000 units of product, with a $9,000 salvage value. During its second year, the machine produces 34,000 units of product. Exercise 8-5 Units-of-production depreciation LO P1 Determine the machine's second-year depreciation using the units-of-production method. Use the following information for the Exercises below. 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 $49,000. The machine's useful life is estimated at 10 years, or 400,000 units of product, with a $9,000 salvage value. During its second year, the machine produces 34,000 units of product. Exercise 8-6 Double-declining-balance depreciation LO P1 Determine the machine's second-year depreciation using the double-declining-balance method. Use the following information for the Exercises below. The following information applies to the questions displayed below.) On April 1, 2016, Cyclone's Backhoe Co purchases a trencher for $286,000. The machine is expected to last five years and have a salvage value of $43,000. Exercise 8-11 Straight-line, partial-year depreciation LO C2 Compute depreciation expense for both years ending December 2016 and 2017 assuming the company uses the straight-line method. Oki Company pays $323,300 for equipment expected to last four years and have a $30,000 salvage value. Prepare journal entries to record the following costs related to the equipment. 1. During the second year of the equipment's life, $22,350 cash is paid for a new component expected to increase the equipment's productivity by 10% a year. 2. During the third year, $5,588 cash is paid for normal repairs necessary to keep the equipment in good working order. 3. During the fourth year, $15,300 is paid for repairs expected to increase the useful life of the equipment from four to five years. Diaz Company owns a milling machine that cost $125,500 and has accumulated depreciation of $90,100. Prepare the entry to record the disposal of the milling machine on January 3 under each of the following independent situations. 1. The machine needed extensive repairs, and it was not worth repairing Diaz disposed of the machine, receiving nothing in return. 2. Diaz sold the machine for $17,400 cash. 3. Diaz sold the machine for $35,400 cash. 4. Diaz sold the machine for $40,100 cash