show as much calculations as possible

3) The Perth Construction Company purchased a piece of machinery on June 29, 2020 for $53 000. Freight costs came to $800. It cost $1 700 to install and test the machinery. At this time it was estimated that the machine would be used for six years and would have a residual value of $6 000 at that time. a) Calculate the value of the machinery and record the journal entry [3 marks] Date Accounts Debit Credit 4) DV Industries purchases a printing press for $18500 on Jan 4, 2020. The press is estimated to have a total life of 28055 presses. a) If 2500 items are pressed in 2020 and 3400 items are pressed in 2021, what will be the amortization expense each year (2020 and 2021) using the units of activity method? Record the journal entries [4 marks] b) If a declining balance rate of 15% is used, what will be the amortization expense each year (2020 and 2021)? Record the journal entry (4 marks] c) Which of the amortization methods should the business choose if it wants to achieve both of the following goals: [2 marks] Show that the assets do not need to be replaced and that they are in good shape Show high net income to make the business more attractive to be sold. Date Accounts Debit Credit 5) Journalize each transaction. a) On December 31 2021, ABC company sold a Forklift purchased on January 1, 2016. It was sold for $600. The forklift cost $4 000 and had a useful life of eight years with a residual value of $200. Straight line amortization is used. [4 marks] Date Accounts Debit Credit b) Record the disposal if it was sold for $1500 [4 marks) Date Accounts Debit Credit 6) Dent Co. purchased a machine on Jan 1 2019 for a total cost of $24200. At the time the machine was expected to last for 6 years and have a residual value of $4000. On January 1 2020, the machine was improved at a cost of $3500. It was then re-assessed and determined to have a residual value of $5000 and a useful life of 5 years. Calculate and record the journal entries for the amortization for 2019 and for 2020 using the straight-line method. (4 marks] Date Accounts Debit Credit 7) The following information relates to money spent on Intangible assets last year. Record the journal entries. [3 x 2 marks] a) $22000 is spent in a successful defense of a copyright b) A patent is acquired. Legal fees equaled $20500 c) The business spent $40000 in doing research last year. The research did not lead to the development or creation of a new product or service. Date Accounts Debit Credit