Question: can i please have some help solving these 1 and 2 questions for accounting. thank you. At the beginning of the year, Grillo Industries bought

can i please have some help solving these 1 and 2 questions for accounting. thank you.  can i please have some help solving these 1 and 2
questions for accounting. thank you. At the beginning of the year, Grillo

At the beginning of the year, Grillo Industries bought three used machines from Freeman Incorporated. The machines immediately were overhauled, were installed, and started operating. Because the machines were different, each was recorded separately in the accounts. Cost of the asset Installation costs Renovation costs prior to use Repairs after production began Machine A $9,300 950 750 800 Machine B $38,500 2,400 2,000 900 Machine C $22,300 1,500 2,500 1,000 By the end of the first year, each machine had been operating 8,000 hours. Required: 1. Compute the cost of each machine. 2. Prepare the journal entry to record depreciation expense at the end of year 1. assuming the following: Machine 5 years U Estimates Life Residual Value Depreciation Method $1,300 Straight-line 20,000 hours 900 Units-of-production 10 years 1,700 Double-declining-balance B Complete this question by entering your answers in the tabs below. Required 1 Required 2 Compute the cost of each machine. Cost of Machine Machine A Machine B Machine C Machine B C Life 5 years 20,000 hours 10 years Residual Value Depreciation Method $1,300 Straight-line 900 Units-of-production 1,700 Double-declining-balance Complete this question by entering your answers in the tabs below. Required 1 Required 2 epare the journal entry to record depreciation expense at the end of year 1, assuming ansaction/event, select "No Journal Entry Required" in the first account field. Do not ra View transaction list Journal entry worksheet

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