Required information PA9-1 (Algo) Computing Acquisition Cost and Recording Depreciation under Three Alternative Methods [LO 9-2, LO 9-3] [The following information applies to the questions displayed below.] At the beginning of the year, Shamrock Unlimited bought three used machines. The machines immediately were overhauled, were installed, and started operating. Because the machines were different, each was recorded separately in the accounts. Details for Machine A are provided below. Cost of the asset Installation costs Renovation costs prior to use Repairs after production began PA9-1 (Algo) Part 5 5. Prepare the journal entry to record year 2 units-of-production depreciation expense for Machine B, assuming a capitalized cost of $43,680, an estimated life of 30,000 hours, $4,500 re dual value, and actual year 2 use of 8,000 hours. (Do not round intermediate calculations. If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet < A $9,400 840 720 590 Record the year 2 depreciation expense for Machine B. Note: Enter debits before credits.
Required information PA9-1 (Algo) Computing Acquisition Cost and Recording Depreciation under Three Alternative Methods [LO 9-2, LO 9-3] [The following information applies to the questions displayed below.] At the beginning of the year, Shamrock Unlimited bought three used machines. The machines immediately were overhauled, were installed, and started operating. Because the machines were different, each was recorded separately in the accounts. Details for Machine A are provided below. Cost of the asset Installation costs Renovation costs prior to use Repairs after production began PA9-1 (Algo) Part 5 5. Prepare the journal entry to record year 2 units-of-production depreciation expense for Machine B, assuming a capitalized cost of $43,680, an estimated life of 30,000 hours, $4,500 re dual value, and actual year 2 use of 8,000 hours. (Do not round intermediate calculations. If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet < A $9,400 840 720 590 Record the year 2 depreciation expense for Machine B. Note: Enter debits before credits.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
5
![Mc
Graw
Hill
Required information
PA9-1 (Algo) Computing Acquisition Cost and Recording Depreciation under Three Alternative Methods
[LO 9-2, LO 9-3]
[The following information applies to the questions displayed below.]
At the beginning of the year, Shamrock Unlimited bought three used machines. The machines immediately were
overhauled, were installed, and started operating. Because the machines were different, each was recorded separately in
the accounts. Details for Machine A are provided below.
Cost of the asset
Installation costs
Renovation costs prior to use
Repairs after production began
PA9-1 (Algo) Part 5
5. Prepare the journal entry to record year 2 units-of-production depreciation expense for Machine B, assuming a capitalized cost of
$43,680, an estimated life of 30,000 hours, $4,500 residual value, and actual year 2 use of 8,000 hours. (Do not round intermediate
calculations. If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.)
View transaction list
Journal entry worksheet
<
A
Record the year 2 depreciation expense for Machine B.
Note: Enter debits before credits.
$9,400
840
720
590
Transaction
General Journal
Debit
Credit
>](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F11a64bba-74c0-4fd7-b16b-3d8fff0a6ac2%2F280718d3-2c46-4252-9de4-ad1baa135f62%2Fk6i9t2c_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Mc
Graw
Hill
Required information
PA9-1 (Algo) Computing Acquisition Cost and Recording Depreciation under Three Alternative Methods
[LO 9-2, LO 9-3]
[The following information applies to the questions displayed below.]
At the beginning of the year, Shamrock Unlimited bought three used machines. The machines immediately were
overhauled, were installed, and started operating. Because the machines were different, each was recorded separately in
the accounts. Details for Machine A are provided below.
Cost of the asset
Installation costs
Renovation costs prior to use
Repairs after production began
PA9-1 (Algo) Part 5
5. Prepare the journal entry to record year 2 units-of-production depreciation expense for Machine B, assuming a capitalized cost of
$43,680, an estimated life of 30,000 hours, $4,500 residual value, and actual year 2 use of 8,000 hours. (Do not round intermediate
calculations. If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.)
View transaction list
Journal entry worksheet
<
A
Record the year 2 depreciation expense for Machine B.
Note: Enter debits before credits.
$9,400
840
720
590
Transaction
General Journal
Debit
Credit
>
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