I\'m struggling with machine 1 and 2. I\'m preparing for an exam so if possible

Question

I'm struggling with machine 1 and 2. I'm preparing for an exam so if possible I was hoping you could show work too. thanks

Email UNCC Other book WilleyPLUS: HywileyPLUS Kimmel, Financial Accounting, 8e FINANCIAL ACCT (ACCT 2121 Gradebook ORION Downloadable elextbook ent CALCULAT FULL SCR Problem 9-BA (Part Level Submission) In recent years, Sunland Company has purchased three machines. Because of frequent em depreciation method for each machin ployee turnover in the accounting department, a differe e, and various methods have been used. Information concerning the machines s surnn e low ccount it as n charge of selecting the re n e Salvage Value(in years) Useful Life MachineAcquired Cost Depreciation Method Jar. 1, 2015 luly 1, 2016 Nov. 1, 2016 $129,500 85,500 76,800 $41,500 10,700 7,800 Straight line Declining-balance Units-of-activity For the declining-balance method, Sunland Company uses the double-declining rate. For the units-of activity method, total machine hours are expected to be 34,500. Actual hours of use in the first 3 years were: 2016, 770; 2017, 5,700; and 2018, 7,400 Your answer is partially correct. Try again Compute the amount of accumulated depreciation on each machine at December 31, 2018. MACHINEMACHINEMACHINE 3 Accumulatod Depreclation at December 31 LINK TO TEXT Attempts: 1 of 3 used SAVE FOR 'A?ERI-m-1

Explanation / Answer

Answer

Cost of Machin 1 $ 129,500 Less; Salvage value $ (41,500) Depreciable value $    88,000 Life of assets 8 Years Depreciation per year ($88,000/8) $    11,000 Accumulated depreciation on December 31, 2018 ($11,000*4 years) $    44,000

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