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Solar Innovations Corporation bought a machine at the beginning of the year at a cost of $22.000. Assume the estimated productive life was five years
Solar Innovations Corporation bought a machine at the beginning of the year at a cost of $22.000. Assume the estimated productive life was five years and the residual value was $2,000. The estimated productive life of the machine is 10,000 units. Expected annual production was year 1, 2,000 units, year 2, 3,000 units, year 3. 2,000 units, year 4, 2,000 units; and year 5, 1000 units. Required: 1. Complete a depreciation schedule for the units-of-production method 2. Prepare the journal entry to record Year 2 depreciation. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Complete a depreciation schedule for the units-of-production method. Balance Sheet Income Statement Depreciation Expense Cost Accumulated Depreciation Book Value Year At acquisition 1 2 3 4 5 Required 2 > Required: 1. Complete a depreciation schedule for the units-of-production method. 2. Prepare the journal entry to record Year 2 depreciation. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare the journal entry to record Year 2 depreciation. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet
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