Question: Website said my values were wrong. Please do not do separate Accumulated Depreciation for each machine. This website gives only one accumulated depreciation option !

 Website said my values were wrong. Please do not do separate

Website said my values were wrong. Please do not do separate Accumulated Depreciation for each machine. This website gives only one accumulated depreciation option

! Required information P8-3 (Algo) Computing the Acquisition Cost and Recording Depreciation under Three Alternative Methods LO8-2, 8-3 [The following information applies to the questions displayed below.) At the beginning of the year, Plummer's Sports Center bought three used fitness machines from Brunswick Corporation. The machines immediately were overhauled, installed, and started operating. The machines were different; therefore, each had to be recorded separately in the accounts. Invoice price paid for asset Installation costs Renovation costs prior to use Machine Machine Machine A B C $34,300 $35,500 $22,500 1,000 1,600 1,000 4,100 2,600 2,100 By the end of the first year, each machine had been operating 5,800 hours. P8-3 Part 2 2. Prepare the entry to record depreciation expense at the end of Year 1, assuming the following. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) Machine A ESTIMATES Residual Life Value Depreciation Method 10 years $2,400 Straight-line 73,000 Units-of- hours 3,200 production Double-declining- 8 years 2,200 balance B View transaction list Journal entry worksheet Record the depreciation expense for year 1. Note: Enter debits before credits. Credit Transaction General Journal 1 Depreciation expense Accumulated depreciation Debit 13,020 13,020

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