4) Using the Specific Identification Method - the $2 spoons are plain- the $3 spoons have...

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4) Using the "Specific Identification" Method - the $2 spoons are plain- the $3 spoons have a design. We sold 4000 plain spoons and 2000 designed spoons. Calculate the Cost of Goods Sold and make the following Journal Entry (show work) For Questions 5-7 We buy a $15,000 Spoon Machine on 1/1/21 -it will last 10 years with $0 value at 12/31/30. It will make 10,000 spoons before becoming scrap. In Year 1 we make 1500 spoons 5) Using the "Straightline"method of Depreciation, calculate Deprecation expense for 2021 and make the following lournal Entry (show work) 6) Using the "Units of Production"method of Depreciation, calculate Deprecatiorn expense for 2021 and make the following Journal Entry (show work) 7) Using the "Double Declining-Balance" method of Depreciation, calculate Deprecation expense for 2021 and make the following Journal Entry (show work) 4) Using the "Specific Identification" Method - the $2 spoons are plain- the $3 spoons have a design. We sold 4000 plain spoons and 2000 designed spoons. Calculate the Cost of Goods Sold and make the following Journal Entry (show work) For Questions 5-7 We buy a $15,000 Spoon Machine on 1/1/21 -it will last 10 years with $0 value at 12/31/30. It will make 10,000 spoons before becoming scrap. In Year 1 we make 1500 spoons 5) Using the "Straightline"method of Depreciation, calculate Deprecation expense for 2021 and make the following lournal Entry (show work) 6) Using the "Units of Production"method of Depreciation, calculate Deprecatiorn expense for 2021 and make the following Journal Entry (show work) 7) Using the "Double Declining-Balance" method of Depreciation, calculate Deprecation expense for 2021 and make the following Journal Entry (show work)

Answer rating: 100% (QA)

Answer 4Plain spoons24000 spoons8000 Design Spoons32000 spoons6000 T... View the full answer