computing and recording units of production depreciation

E9-7 (Algo) Computing and Recording Units-of-Production Depreciation (LO 9-3) Turquoise Associates bought a machine at the beginning of the year at a cost of $25,000. The estimated useful life was five years and the residual value was $2.000. Assume the estimated productive life of the machine is 11,500 units. Expected annual production was year 1, 2,300 units; year 2, 3,300 units; year 3, 2,300 units; year 4 2,300 units; and year 5.1,300 units. Required: 1. Complete a depreciation schedule for the units-of-production method. 2. Prepare the journal entry to record Year 2 depreciation. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Complete a depreciation schedule for the units-of-production method. (Do not round intermediate calculations. Round final answers to the nearest whole dollars.) Balance Sheet Yoar Income Statement Depreciation Expense Cost Accumulated Depreciation Book Value At acquisition 1 $ 4.600 s 6,600 $ 2 $ 25,000 25.000 25,000 25,000 3 $ 4,500 $ $ 4 5 4,600 $ 2.800 $ $ 25,0001 E9-7 (Algo) Computing and Recording Units-of-Production Depreciation (LO 9-3] Turquoise Associates bought a machine at the beginning of the year at a cost of $25,000. The estimated useful life was five years and the residual value was $2,000. Assume the estimated productive life of the machine is 11,500 units. Expected annual production was year 1,2,300 units; year 2.3,300 units: year 3, 2,300 units, year 4, 2,300 units; and year 5, 1,300 units. Required: 1. Complete a depreciation schedule for the units-of-production method. 2. Prepare the journal entry to record Year 2 depreciation. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare the journal entry to record Year 2 depreciation. (If no entry is required for a transaction/event, select "No Journal Entry Required in the first account field) View transaction to Journal entry worksheet