Chapter 9 study assignment 0 Seved Help Save & Exit Submit Check my work O'Connor Company ordered a machine on January 1 at a purchase price of $10,000. On the date of delivery, January 2, the company paid $3,000 on the machine and signed a long-term note payable for the balance. On January 3, it paid $100 for freight on the machine. On January 5, O'Connor paid cash for installation costs relating to the machine amounting to $600. On December 31 (the end of the accounting period). O'Connor recorded depreciation on the machine using the straight-line method with an estimated useful life of 10 years and an estimated residual value of $1,100. points Required: 1 X 02:39:17 1. Indicate the effects (accounts, amounts, and + for increase, - for decrease) of each transaction (on January 1, 2, 3, and 5) on the accounting equation. 2. Compute the acquisition cost of the machine. 3. Compute the depreciation expense to be reported for the first year. 4. What should be the book value of the machine at the end of the second year? Book Hint Complete this question by entering your answers in the tabs below. Print Required 1 Required 2 Required 3 Required 4 Indicate the effects (accounts, amounts, and + for increase, for decrease) of each transaction (on January 1, 2, 3, and 5) on the accounting equation. (Enter any decre: with a minus sign.) References Assets Liabilities Stockholders' Equity Date Jan 01 Jan 02 Equipment 10,000 Notes Payable (long-term) Jan 03 Cash Equipment Cash Equipment Jan 05 Required 1 Required 2 > Chapter 9 study assignment i Seved Help Save & Exit Submit Check my work O'Connor Company ordered a machine on January 1 at a purchase price of $10,000. On the date of delivery, January 2, the company paid $3,000 on the machine and signed a long-term note payable for the balance. On January 3, it paid $100 for freight on the machine. On January 5, O'Connor paid cash for installation costs relating to the machine amounting to $600. On December 31 (the end of the accounting period), O'Connor recorded depreciation on the machine using the straight-line method with an estimated useful life of 10 years and an estimated residual value of $1,100. 1.5 points (02:39:11 Required: 1. Indicate the effects (accounts, amounts, and + for increase, - for decrease) of each transaction (on January 1, 2, 3, and 5) on the accounting equation. 2. Compute the acquisition cost of the machine. 3. Compute the depreciation expense to be reported for the first vear. 4. What should be the book value of the machine at the end of the second year? eBook Hint Complete this question by entering your answers in the tabs below. Print Required 1 Required 2 Required 3 Required 4 Required 2 Compute the acquisition cost of the machine. References cquisition Cost Required 1 Required 3 > Chapter 9 study assignment Saved Help Save & Exit Submit Check my work O'Connor Company ordered a machine on January 1 at a purchase price of $10,000. On the date of delivery, January 2, the company paid $3,000 on the machine and signed a long-term note payable for the balance. On January 3, it paid $100 for freight on the machine. On January 5, O'Connor paid cash for installation costs relating to the machine amounting to $600. On December 31 (the end of the accounting period), O'Connor recorded depreciation on the machine using the straight-line method with an estimated useful life of 10 years and an estimated residual value of $1,100. 1,5 points (8 02:39:05 Required: 1. Indicate the effects (accounts, amounts, and + for increase, - for decrease) of each transaction (on January 1, 2, 3, and 5) on the accounting equation. 2. Compute the acquisition cost of the machine 3. Compute the depreciation expense to be reported for the first year. 4. What should be the book value of the machine at the end of the second year? eBook Hint Complete this question by entering your answers in the tabs below. Print Required 1 Required 2 Required 3 Required 4 References Compute the depreciation expense to be reported for the first year. (Do not round intermediate calculations.) Depreciation Expense Chapter 9 study assignment i Saved Help Save & Exit Submit Check my work O'Connor Company ordered a machine on January 1 at a purchase price of $10,000. On the date of delivery, January 2, the company paid $3,000 on the machine and signed a long-term note payable for the balance. On January 3, it paid $100 for freight on the machine. On January 5, O'Connor paid cash for installation costs relating to the machine amounting to $600. On December 31 (the end of the accounting period), O'Connor recorded depreciation on the machine using the straight-line method with an estimated useful life of 10 years and an estimated residual value of $1,100. 1.5 points 8 02:38:59 Required: 1. Indicate the effects (accounts, amounts, and + for increase, - for decrease) of each transaction (on January 1, 2, 3, and 5) on the accounting equation. 2. Compute the acquisition cost of the machine. 3. Compute the depreciation expense to be reported for the first year. 4. What should be the book value of the machine at the end of the second year? eBook Hint Complete this question by entering your answers in the tabs below. Print Required 1 Required 2 Required 3 Required 4 References What should be the book value of the machine at the end of the second year? (Do not round intermediate calculations.) Book Value Required 3 Required 4 )