Courte: NGT 2216-03 x \\ D les15Dehinfo (1)pdf Xy. D cas EOC Hormework C Not sec
ID: 2510190 • Letter: C
Question
Courte: NGT 2216-03 x D les15Dehinfo (1)pdf Xy. D cas EOC Hormework C Not secure ezto.mheducation.com/tm.tpx 0,109814030895 1181,15228307700m : Apps McGrawHall Connec &ste; nite labs -Goog M p Moodle ISu/ Log in t PB9-1 Computing Acquisition Cost and Recording Depreciation under Three Alternative Methods LO 9-2, LO 9-3 of the year, Oakmont Company bought three used machines from American At the Manufacturing, Inc. The machines immediately were overhauled, were instaled, and started operating Because the machines were different, each was recorded separately in the accounts Machine A Machine B Machine c Amount paid for asset Installation costs Renovation costs prior to use Repairs aer production began920 $21,100 $11,600 $11.300 700 600 1,050 850 800 600 2,400 By the end of the fest year, each machine had been operating 4,000 hours Required: 1. Compute the cost of each machine Machine A 23,0 Machine B Machine C 12,600 S 13000 2. Propare the journal entry to record depreciation expense at the and of year 1, assuming the folawing o no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field. Do not round intermediate calculations.) 5 years 20,000 hours 10 years $1,400 1,300 2.000 Swaight-ine Units-of production Double -declining-balance Journal entry worksheet O Type here to search
Explanation / Answer
Ans 1. Cost of each machine
Repairs after production began will not be considered for calculating total cost of Machines.
Ans2. Depreciation will be calculated as following on Machines
Now for Posting Journal entry for the first year ended.
Machines Computation of cost Cost of each Machine Machine A 21100+1050+850 23000 Machine B 11600+800+600 13000 Machine C 11300+700+600 12600