On 25 March 2020, Miracle Company bought a machine at $1,350,000 with an estimated useful life of 15 years and no residual value. The machine is expected to operate 270,000 hours. The company adjusts its account annually with the year-end date on 31 December. Required: (a) Compute(showworkings)depreciationexpensesforthemachinein2020and2021by: (i) Straight-line (using half year convention); (ii) 150%-declining-balance (calculate to the nearest whole month); and (iii) Units-of-output method (hours of operation: 12,000 in 2020; 18,000 in 2021) (b) AssumeMiracleCompanyadoptsthestraight-linemethodin(a)(i)above.On5April2022themachine was disposed for $1,150,000 cash. (i) Journalize depreciation of the machine for 2022 before the disposal. (ii) Journalize disposal of the machine on 5 April 2022.

On July 1, 2023, Yorkton Company purchased for $431,000 equipment having an estimated useful life of ten years with an estimated residual value of $33,000. Depreciation is calculated to the nearest month. The company has a December 31 year-end. Required: Complete the following schedules: (Amount to be deducted should be indicated by a minus sign.) 1. Assuming the purchase was made on January 1, 2023. 1. Double-declining-balance method: Equipment Less: Accumulated depreciation Year-end book value Depreciation expanse for the year 2. Straight-line method: Equipment Less: Accumulated depreciation Year-end book value Depreciation expense for the year $ $ $ $ $ $ 2023 431,000 $ 431,000 $ 86,200 $ 431,000 $ 431,000 $ 39,800 $ 2024 431,000 $ 431,000 431,000 $ 68,960 S 431,000 $ 2025 431,000 $ 39,800 $ 431,000 55,168 431,000 ww 431,000 39,800 Check my work

On September 30, 2021, Bricker Enterprises purchased a machine for $200,000. The estimated service life is 10 years with a $20,000 residual value. Bricker records partial-year depreciation based on the number of months in service.Depreciation (to the nearest dollar) for 2022, using sum-of-the-years'-digits method, would be:   Multiple Choice   $31,909.   $29,455.   $35,456.   $54,000.

Prepare adjusting entries as of December 31, 2021 for the following: 1. Alpha Company depreciates its fixed assets at 10% per annum and maintains salvage value at 10% of acquisition cost. On March 1, 2021 it acquired a set of table and chairs for the manager's office for P82,000 cash. On August 16, 2021, it acquired two computers at a purchase price per unit of P70,000. 2. Bravo Company has been operating for several years now. Its Office Equipment account as of January 1, 2021 has a balance of P950,000 with accumulated depreciation of P220,600. On June 16, 2021 a lap top was acquired for P100,000. All office equipment of the firm has estimated useful life of 10 years with salvage value of 10% of acquisition cost. 3. The furniture and fixtures of Charlie Company are depreciated for 20 years without salvage value. As of December 31, 2021, the fixed asset account is composed of: (a) Furniture and fixtures for the three floors of the building acquired on March 1, 2020 at a lump-sum price…