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This one is a little confusing for me! Thank you! Problem 9-17A Partial year's depreclation; alternative methods; exchange/disposal of PPE LO CHECK FIGURES: a. Machine

This one is a little confusing for me! Thank you! image text in transcribed
Problem 9-17A Partial year's depreclation; alternative methods; exchange/disposal of PPE LO CHECK FIGURES: a. Machine 1550 $6,075; Machine 1795 $22,646; Machine BT-311 $77,810 Zephyr Minerals completed the following transactions involving machinery Machine No. 1550 was purchased for cash on April 1, 2017, at an installed cost of $52,900. Its usefu life was estimated to be six years with a $4,300 trade-in value. Straight-line depreciation was recorded fo the machine at the ends of 2017, 2018, and 2019. On March 29, 2020, it was traded for Machine No. 17 with an installed cash price of $62,000. A trade-in allowance of $30,210 was received for Machine No 1550, and the balance was paid in cash. not be determined. The fair values of Machine No. 1550 and Machine No. 1795 Machine No. 1795's life was predicted to be four years with a trade-in value of $8,200. Double-declining balance depreciation on this machine was recorded each December 31. On October 2, 2021, it was traded for Machine No. BT-311, which had an installed cash price of $537,000, the machine's fair value. A trade-in It was estimated that Machine No. BT-311 would produce 200,000 units of product during its five-year corded for the machine for 2021, a period in which it produced 31,000 units of product. Between January allowance of $20,000 was received for Machine No. 1795, and the balance was paid in cash. useful life, after which it would have a $35,000 trade-in value, Units-of production depreciation was re 1, 2022, and August 21, 2024, the machine produced 108,000 more units, On August 21, 2024, it was sold for $81,200 Required Round calculations to the nearest dollar and prepare journal entries to record: The depreciation expense recorded to the nearest whole month on the first December 31 of each machine's life. a. b. The purchase/exchange/disposal of each machine

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