second and third picture is the one question

see the second and third picture only no need to see the bulrred one. blur one is seprate question... see the below of that

EXERCISE 12-1 nou There and states of twelve for the three years ended December 2015 lance Sheet A December 11 2013 2015 2014 SA 20 52 517 20 30 C Account Merchandise Prepaid Total Current mut 1 2 150 10 70 5380 580 5146 Curre Account Payable None $50 50 10 Como Sur 200 30 20 100 16 3548 2013 5100 35 For the Ended December 31 2015 2014 $200 $120 Cost of Good Sold 133 Growe Openings 35 come from Open come one comes 15 310 33 The committee 2017 The commerce 1202 520 The compropertslund December 31, 2012 totales Comenet doden from the al mo umber como hacen 2011-2012-2015- Required Com Themen here and creditor auto? What there you can meet the funcil performance of stock 4:01 Done assignment 4_0c150f16a11f25e4... Assignments submitted late will receive a penalty of 10% per day & will not be accepted 3 days after the due date. Assignments must be completed on an individual basis Any academic dishonesty (copying or supplying your assignment to another student to copy, having someone else complete the assignment for you will receive a grade of and may be reported to the Dean. Assignment must be submitted to Moodle. You have just been hired by Mr. Genie, the manager of Jasmine Incorporated, to assist with the preparation of the year end financial statements. Mr. Genie is trying to calculate the depreciation on a new piece of equipment that was purchased during the year and has come to you for assistance. The new piece of equipment was purchased on June 1. 2020 and the company has a December 31 year end. The company paid $44,000 for the equipment and then had to pay $2,000 in freight and $1,000 in training before the company could start using the equipment. The equipment was put into use on July 1, 2020 and on October 1,2020 the company had to pay $1,000 in repairs. The estimated residual value is $7.000 and the estimated useful life is 8 years or 2,000,000 units. Jasmine Incorporated depreciates using the half year rule in the year of acquisition and disposal. The equipment was used to produce 140,000 units in 2020 and 275,000 units in 2021. Management feels that the equipment will be able to produce more units earlier in it's life than it will as it gets older. On January 1, 2022 Jasmine Incorporated sold the equipment for $35,000 Required: a) Calculate the cost of the equipment. b) Calculate the depreciation for 2020 & 2021 under each of the methods below: Units-of-production Straight line 4:01 Done assignment 4_0c150f16a11f25e4... The company paid $44,000 for the equipment and then had to pay $2,000 in freight and $1,000 in training before the company could start using the equipment. The equipment was put into use on July 1, 2020 and on October 1,2020 the company had to pay $1,000 in repairs. The estimated residual value is $7,000 and the estimated useful life is 8 years or 2,000,000 units. Jasmine Incorporated depreciates using the half year rule in the year of acquisition and disposal. The equipment was used to produce 140,000 units in 2020 275,000 units in 2021. Management feels that the equipment will be able to produce more units earlier in it's life than it will as it gets older. On January 1, 2022 Jasmine Incorporated sold the equipment for S35,000. Required: a) Calculate the cost of the equipment. b) Calculate the depreciation for 2020 & 2021 under each of the methods below: Units-of-production Straight-line Double-declining-balance c) Prepare the journal entry to record the disposition of the equipment on January 1, 2022 assuming Jasmine Incorporated uses the units- of-production method for calculating depreciation. d) Draft a memo to Mr. Genie telling him which method would give the highest net income in 2020 and which method of depreciation you recommend they use and why. You must show your work! Round to two decimal points if necessary. Page 1 of 5 EXERCISE 12-1 nou There and states of twelve for the three years ended December 2015 lance Sheet A December 11 2013 2015 2014 SA 20 52 517 20 30 C Account Merchandise Prepaid Total Current mut 1 2 150 10 70 5380 580 5146 Curre Account Payable None $50 50 10 Como Sur 200 30 20 100 16 3548 2013 5100 35 For the Ended December 31 2015 2014 $200 $120 Cost of Good Sold 133 Growe Openings 35 come from Open come one comes 15 310 33 The committee 2017 The commerce 1202 520 The compropertslund December 31, 2012 totales Comenet doden from the al mo umber como hacen 2011-2012-2015- Required Com Themen here and creditor auto? What there you can meet the funcil performance of stock 4:01 Done assignment 4_0c150f16a11f25e4... Assignments submitted late will receive a penalty of 10% per day & will not be accepted 3 days after the due date. Assignments must be completed on an individual basis Any academic dishonesty (copying or supplying your assignment to another student to copy, having someone else complete the assignment for you will receive a grade of and may be reported to the Dean. Assignment must be submitted to Moodle. You have just been hired by Mr. Genie, the manager of Jasmine Incorporated, to assist with the preparation of the year end financial statements. Mr. Genie is trying to calculate the depreciation on a new piece of equipment that was purchased during the year and has come to you for assistance. The new piece of equipment was purchased on June 1. 2020 and the company has a December 31 year end. The company paid $44,000 for the equipment and then had to pay $2,000 in freight and $1,000 in training before the company could start using the equipment. The equipment was put into use on July 1, 2020 and on October 1,2020 the company had to pay $1,000 in repairs. The estimated residual value is $7.000 and the estimated useful life is 8 years or 2,000,000 units. Jasmine Incorporated depreciates using the half year rule in the year of acquisition and disposal. The equipment was used to produce 140,000 units in 2020 and 275,000 units in 2021. Management feels that the equipment will be able to produce more units earlier in it's life than it will as it gets older. On January 1, 2022 Jasmine Incorporated sold the equipment for $35,000 Required: a) Calculate the cost of the equipment. b) Calculate the depreciation for 2020 & 2021 under each of the methods below: Units-of-production Straight line 4:01 Done assignment 4_0c150f16a11f25e4... The company paid $44,000 for the equipment and then had to pay $2,000 in freight and $1,000 in training before the company could start using the equipment. The equipment was put into use on July 1, 2020 and on October 1,2020 the company had to pay $1,000 in repairs. The estimated residual value is $7,000 and the estimated useful life is 8 years or 2,000,000 units. Jasmine Incorporated depreciates using the half year rule in the year of acquisition and disposal. The equipment was used to produce 140,000 units in 2020 275,000 units in 2021. Management feels that the equipment will be able to produce more units earlier in it's life than it will as it gets older. On January 1, 2022 Jasmine Incorporated sold the equipment for S35,000. Required: a) Calculate the cost of the equipment. b) Calculate the depreciation for 2020 & 2021 under each of the methods below: Units-of-production Straight-line Double-declining-balance c) Prepare the journal entry to record the disposition of the equipment on January 1, 2022 assuming Jasmine Incorporated uses the units- of-production method for calculating depreciation. d) Draft a memo to Mr. Genie telling him which method would give the highest net income in 2020 and which method of depreciation you recommend they use and why. You must show your work! Round to two decimal points if necessary. Page 1 of 5