Task 4.1. On January 2, 2018, Nostaw Corporation acquired a new machine with an estimated useful life of five years. The cost of the equipment was $40,000 with an estimated residual value of $5,000. Prepare a complete depreciation table under the three depreciation methods listed as follows. In each case, assume that a full year of depreciation was taken in 2018. c) Straight-line. 200 percent declining-balance. 160 percent declining-balance with a switch to straight-line when it will maximize depreciation expense. a) Year 2018 2019 2020 2021 2022 b) Year 2018 2019 2020 2021 2022 Year 2018 2019 2020 2021 2022 Computation Computation Depreciation Expense Accumulated Depreciation Book Value Depreciation Expense Computation Accumulated Depreciation Book Value Task 4.2.: Prepare journal entries for the following. Show your computations below. (a) (b) (c) November 1, 2018 December 31, 2018 July 1, 2019 a. b. G. Journal entry Depreciation Expense Accumulated Depreciation Book Value Purchased machinery for $93,600 with a $7,200 residual value and a six-year life by paying $14,400 down and the balance with a Nate Payable. (Ignare interest) Record the adjusting entry for depreciation using the straight-line method to the nearest month. Sold the equipment for $81,600 cash and paid off the Note payable. Debit Credit