Vaughan Manufacturing Inc. purhased and later sold a machine. Details relating to the machine are below.

Acquisition cost	$180,000
Date of purchase	1-Mar-20
Date put into use	1-Jun-20
Estimated useful life in years	6
Estimated residual value	$36,000
Date of disposal	1-Sep-24
Proceeds of disposal	$70,000

Complete a depreciation chart for this machine and then answer the following questions.

Question 30 (2 points)

Question 30 options:

What is the depreciable amount of the machine?

Question 31 (2 points)

Question 31 options:

What is this machine's ANNUAL depreciation expense?

Question 32 (2 points)

Question 32 options:

How much depreciation expense should be recorded in 2020?

Question 33 (2 points)

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How is depreciation recorded at year end? Select all that apply.

Question 33 options:

a)	Decrease Equipment

b)	Increase Cash

c)	Decrease Depreciation Expense

d)	Increase Accumulated Depreciation

e)	Increase Depreciation Expense

f)	Decrease Cash

g)	Increase Equipment

h)	Decrease Accumulated Depreciation

Question 34 (2 points)

Question 34 options:

What is the accumulated depreciation at the end of 2022?

Question 35 (2 points)

Question 35 options:

How much depreciation expense should be recorded in 2024, the year of the disposal?

Question 36 (2 points)

Question 36 options:

What is the book value on the disposal date?

Question 37 (2 points)

Question 37 options:

What is the gain or loss on the disposal? If a loss, enter as a negative number (i.e. as -1000). If a gain, enter as a positive number (i.e., as 1000).

Question 38 (4 points)

How will the disposal of the machine be recorded? Ignore the partial-year depreciation entry. Select all that apply. (4 marks)

Question 38 options:

a)	Increase Gain on Disposal

b)	Increase Loss on Disposal

c)	Increase Accumulated Depreciation

d)	Decrease Equipment

e)	Decrease Gain on Disposal

f)	Decrease Loss on Disposal

g)	Increase Cash

h)	Increase Depreciation Expense

i)	Decrease Accumulated Depreciation

j)	Decrease Cash

k)	Increase Equipment

l)	Decrease Depreciation Expense