The following data relate to the Machinery account of Bonita, Inc at December 31, 2020 Machinery A B C D Original cost $50,140 $55,590 $87,200 $87,200 Year purchased 2015 2016 2017 2019 Useful life 10 years 15,000 hours 15 years 10 years Salvage value $3,379 $3,270 $5,450 $5,450 Depreciation method Sum of the years' digits Activity Straight line Double declining balance Accum depr through 2020 $34,008 $38,368 $16,350 $17,440 In the year an asset is purchased, Bonita, Inc does not record any depreciation expense on the asset In the year an asset is retired or traded in, Bonita, Inc takes a full years depreciation on the asset The following transactions occurred during 2021 (a) On May 5, Machine A was sold for $14,170 cash The companys bookkeeper recorded this retirement in the following manner in the cash receipts journal Cash 14,170 Machinery (Machine A) 14,170 (b) On December 31, it was determined that Machine B had been used 2,500 hours during 2021 (c) On December 31, before computing depreciation expense on Machine C, the management of Bonita, Inc decided the useful life remaining from January 1, 2021, was 10 years (d) On December 31, it was discovered that a machine purchased in 2020 had been expensed completely in that year This machine cost $30,520 and has a useful life of 10 years and no salvage value Management has decided to use the double declining balance method for this machine, which can be referred to as Machine E Prepare the necessary correcting entries for the year 2021 Record the appropriate depreciation expense on the above mentioned machines (If no entry is required, select No entry for the account titles and enter 0 for the amounts Round intermediate calculations to 3 decimal places, e g 4 589 and final answers to 0 decimal places, e g 45,892 Credit account titles are automatically indented when amount is entered Do not indent manually ) No Account Titles and Explanation Debit Credit (a) Accumulated Depreciation Machinery (To record current depreciation) (To properly record the sale) (b) Depreciation Expense Accumulated Depreciation Machinery (To Record the original purchase of the machine)

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The following data relate to the Machinery account of Bonita, Inc. at December 31, 2020. Machinery A B C D Original cost $50,140 $55,590 $87,200

The following data relate to the Machinery account of Bonita, Inc. at December 31, 2020.

	Machinery
	A	B	C	D
Original cost	$50,140	$55,590	$87,200	$87,200
Year purchased	2015	2016	2017	2019
Useful life	10 years	15,000 hours	15 years	10 years
Salvage value	$3,379	$3,270	$5,450	$5,450
Depreciation method	Sum-of-the-years'-digits	Activity	Straight-line	Double-declining balance
Accum. depr through 2020*	$34,008	$38,368	$16,350	$17,440

*In the year an asset is purchased, Bonita, Inc. does not record any depreciation expense on the asset. In the year an asset is retired or traded in, Bonita, Inc. takes a full years depreciation on the asset. The following transactions occurred during 2021.

(a)

On May 5, Machine A was sold for $14,170 cash. The companys bookkeeper recorded this retirement in the following manner in the cash receipts journal.

	Cash	14,170
	Machinery (Machine A)		14,170

(b)	On December 31, it was determined that Machine B had been used 2,500 hours during 2021.
(c)	On December 31, before computing depreciation expense on Machine C, the management of Bonita, Inc. decided the useful life remaining from January 1, 2021, was 10 years.
(d)	On December 31, it was discovered that a machine purchased in 2020 had been expensed completely in that year. This machine cost $30,520 and has a useful life of 10 years and no salvage value. Management has decided to use the double-declining-balance method for this machine, which can be referred to as Machine E.

Prepare the necessary correcting entries for the year 2021. Record the appropriate depreciation expense on the above-mentioned machines. (If no entry is required, select "No entry" for the account titles and enter 0 for the amounts. Round intermediate calculations to 3 decimal places, e.g. 4.589 and final answers to 0 decimal places, e.g. 45,892. Credit account titles are automatically indented when amount is entered. Do not indent manually.)

No. Account Titles and Explanation Debit Credit (a) Accumulated Depreciation-Machinery (To record current depreciation) (To properly record the sale) (b) Depreciation Expense Accumulated Depreciation Machinery (To Record the original purchase of the machine)