Financial Accounting: PA9-1 At the beginning of the year, Grillo Industries bought three

Financial Accounting 
PA9-1 Computing Acquisition Cost and Recording Depreciation under Three Alternative Methods 
At the beginning of the year, Grillo Industries bought three used machines from Freeman Incorporated. The machines immediately were overhauled, installed, and started operating. Because the machines were different, each was recorded separately in the accounts. 
Machine A Machine B Machine C 
Cost of the asset 10,600 39,800 23,600 
Installation costs 850 3,700 2,800 
Renovation costs prior to use 650 3,300 3,800 
Repairs after production began 500 700 2,300 

By the end of the first year, each machine had been operating 8,000 hours. 

1. Compute the cost of each machine. 
2. Prepare the journal 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. Do not round intermediate calculations.) 
Machine Life Residual Value Depreciation Method 
A 5 years    2,600 Straight-line 
B 20,000 hours    2,200 Units-of-production 
C 10 years    1,400 Double-declining balance
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