The fovlowing information applies to the questions displayed bolow. At the beginning of the year, Starr Systems bought o shed, a machine, and a tratier. The shed initially cost $19,800 but had to be renovated at a cost of $440. The shed was expected to last 7 years, with a The shed initially cost $19,800 but had to be renovatod at a cost of $440. The shed was expe The machine cost $11,000, and is estimated to have a total life of 40,000 hours and residual value of $900. The machine was actually used 2,000 hours in year 1 and 4,000 hours in year 2 . The trailer cost $10,800 and was expected to last 4 years, with a residual value of $2,000. Required: 1. Compute the amount to be capitalized for the shed. 2. Compute year 2 straight-line depreciation expense for the shed and prepare the journal entry to record it. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) Journal entry worksheet Record the year 2 straight-line depreciation expense for the shed. Note: Enter debits before credits. 3. Compute year 2 units-of-production depreciation expense for the machine. (Do not round interme 4. Prepare the journal entry to record year 2 units-of-production depreciation expense for the cafculations. If no entry is required for a transaction/event, select "No Journal Entry Required" in the flist account field.) Journal entry worksheet Record the year 2 depreciation expense for the machine. Note: Enter debits before credits: 5. Compute years 1 and 2 double-declining-balance depreciation expense for the trailer. Journal entry worksheet Record the year 2 depreciation expense for the trailer. Note: Enter debits before credits