Assignment> Open Assignment RSIONBACK NEXT ASSIGNMENT RESOURCES Problem 10-03A a-c (Part Level Submission) On January 1, 2020, Marigold Company purchased the following two machines for use in its production process. Machine A: The cash price of this machine was $48,000. Related expenditures included: sales tax $2,600, shipping costs $200, insurance during shipping $50, installation and Chapter 10 Graded Assignment (without aRRendix) Problem 10-03A a- Port Level Submi testing costs $60, and $100 of oil and lubricants to be used with the machinery during its first year of operations. Marigold estimates that the useful life of the machine is 5 years with a $5,050 salvage value remaining at the end of that time period. Assume that the straight-line method of depreciation is used. Machine B The recorded cost of this machine was $180,000. Marigold estimates that the useful life of the machine is 4 years with a $10,150 salvage value remaining at the end of that time period. Y Study(a) Obicctivec Your answer is partially correct. Try again. Prepare the following for Machine A. (Round answers to 0 decimal places, e.g. 5,125. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) 1. The journal entry to record its purchase on January 1, 2020 2. The journal entry to record annual depreciation at December 31, 2020 No. Account Titles and Explanation 1. Equipment Debit Credit 180000 Cash 180000 2. Depreciation Expense 42463 CALCULATOR PRINTER VERSION BACK NEXT ASSIGNMENT RESOURCES Chapter 10 - Graded Assignment (without appendix) Calculate the amount of depreciation expense that Marigold should record for Machine B each year of its useful life under the following assumptions. (Round depreciation cost per unit to 2 decimal places, e.g. 12.25. Round final ansivers to 0 decimal places, e.g. 2,125.) Problem 10-03A a (1) (2) (3) Marigold uses the straight-line method of depreciation. Marigold uses the declining-balance method. The rate used is twice the straight-line rate. Marigold uses the units-of-activity method and estimates that the useful life of the machine is 135,880 units. Actual usage is as follows: 2020, 53,000 units; 2021, 39,000 units; 2022, 25,000 units; 2023, 18,880 units. Part video) Review score Depreciation Expense 2020 2021 2022 2023 Straight-line method Delining-balance method Units-of-activity method s Attempts: 0 of 2 used SAVE FOR LATER UBMIT ANSWER Assignment> Open Assignment RSIONBACK NEXT ASSIGNMENT RESOURCES Problem 10-03A a-c (Part Level Submission) On January 1, 2020, Marigold Company purchased the following two machines for use in its production process. Machine A: The cash price of this machine was $48,000. Related expenditures included: sales tax $2,600, shipping costs $200, insurance during shipping $50, installation and Chapter 10 Graded Assignment (without aRRendix) Problem 10-03A a- Port Level Submi testing costs $60, and $100 of oil and lubricants to be used with the machinery during its first year of operations. Marigold estimates that the useful life of the machine is 5 years with a $5,050 salvage value remaining at the end of that time period. Assume that the straight-line method of depreciation is used. Machine B The recorded cost of this machine was $180,000. Marigold estimates that the useful life of the machine is 4 years with a $10,150 salvage value remaining at the end of that time period. Y Study(a) Obicctivec Your answer is partially correct. Try again. Prepare the following for Machine A. (Round answers to 0 decimal places, e.g. 5,125. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) 1. The journal entry to record its purchase on January 1, 2020 2. The journal entry to record annual depreciation at December 31, 2020 No. Account Titles and Explanation 1. Equipment Debit Credit 180000 Cash 180000 2. Depreciation Expense 42463 CALCULATOR PRINTER VERSION BACK NEXT ASSIGNMENT RESOURCES Chapter 10 - Graded Assignment (without appendix) Calculate the amount of depreciation expense that Marigold should record for Machine B each year of its useful life under the following assumptions. (Round depreciation cost per unit to 2 decimal places, e.g. 12.25. Round final ansivers to 0 decimal places, e.g. 2,125.) Problem 10-03A a (1) (2) (3) Marigold uses the straight-line method of depreciation. Marigold uses the declining-balance method. The rate used is twice the straight-line rate. Marigold uses the units-of-activity method and estimates that the useful life of the machine is 135,880 units. Actual usage is as follows: 2020, 53,000 units; 2021, 39,000 units; 2022, 25,000 units; 2023, 18,880 units. Part video) Review score Depreciation Expense 2020 2021 2022 2023 Straight-line method Delining-balance method Units-of-activity method s Attempts: 0 of 2 used SAVE FOR LATER UBMIT