Question: Question 25 (16 points) Saved A machine was acquired on January 1, 2018, at a cost of $150,000. The machine was originally estimated to

Question 25 (16 points) Saved A machine was acquired on January 1,

Question 25 (16 points) Saved A machine was acquired on January 1, 2018, at a cost of $150,000. The machine was originally estimated to have a residual value of $30,000, an estimated life of 8 years and expected to produce 80,000 units over its useful life. The machine produced a total of 10,000 units in 2018 and 15,000 in 2019. Year end is December 31. a. Compute depreciation expense for 2018 and 2019 using straight line, double diminishing of production. 6 marks and units b. Record journal entry for depreciation for 2018. Use straight line amount. 2 marks. c. Balance in accumulated depreciation for 2019. Use units of production. 2 marks

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