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Chapter 9 Assignment Hel Seve Su 1 10 Depreciation (LO 9-2, LO 9-31 O'Connor Company ordered a machine on January 1 a purchase price of $55.000. On the date of delivery, January 2th company paid $14.000 on the machine and signed a long term note payable for the balance. On January 3, pod 1000 for freight on the machine. On January 5. O'Connor paid cash for installation costs relating to the machine mouting to $3.300 On December 31 he end of the accounting period. Con recorded depreciation on the machine using the stone method with an estimated useful life of 10 years and an estimated residul Volue of $5.000. Required: 1. Indicate the effech accounts, amounts, and + for increase - for decrease of each transaction on January 12, 2. and 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 Complete this question by entering your answers in the tabs below Regard Wat should be the book value of the machine at the end of the second year? (Do not undermediate