Record depreciation at March 31, 2024, 2025, and 2026. (List all debit entries before credit entries. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Round answers to O decimal places, e.g. 5,275.) Date lar. 31, 2024 lar. 31, 2025 lar. 31, 2026 Account Titles and Explanation Depreciation Expense Accumulated Depreciation - Buildings Depreciation Expense Accumulated Depreciation - Buildings Depreciation Expense Accumulated Depreciation - Buildings Debit 8,133 7,591 3,902 Credit 8,133 6,504 3,902 Record the disposal of the huts on July 31, 2026, under each of the following independent assumptions: (List all debit entries before credit entries. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Round answers to O decimal places, e.g. 5,275.) 1. 2. 3. ). They were sold for $83,800. They were sold for $43,800. They were retired for no proceeds. Date July 31 L) July 31 2) July 31 3) July 31 Account Titles and Explanation Depreciation Expense Accumulated Depreciation - Buildings (To record depreciation on buildings disposed) Cash Accumulated Depreciation - Buildings Gain on Disposal Buildings Cash Accumulated Depreciation - Buildings Loss on Disposal Buildings Accumulated Depreciation - Buildings Loss on Disposal Buildings Debit 10000⁰ Credit 1001 122,000 122,000 122,000

On January 1, 2018, Hobart Mfg. Co. purchased a drill press at a cost of $21,900. The drill press is expected to last 10 years and has a residual value of $5.100. During its 10- year life, the equipment is expected to produce 500,000 units of product. In 2018 and 2019, 20,500 and 75,000 units, respectively, were produced. Required: Compute depreciation for 2018 and 2019 and the book value of the drill press at December 31, 2018 and 2019, assuming the units-of-production method is used. (Round depreciation per unit to 2 decimal places.) 2018 2019 Depreciation Book Values

Vita Water purchased a used machine for $117,200 on January 2, 2020. It was repaired the next day at a cost of $4,900 and installed on a new platform that cost $1,700. The company predicted that the machine would be used for six years and would then have a $32,720 residual value. Depreciation was to be charged on a straight-line basis to the nearest whole month. A full year’s depreciation was recorded on December 31, 2020. On September 30, 2025, it was retired.Required:1.  Prepare journal entries to record the purchase of the machine, the cost of repairing it, and the installation.    Assume that cash was paid. 2.   Prepare entries to record depreciation on the machine on December 31 of its first year and on September 30 in the year of its disposal. (Round intermediate calculations to the nearest whole dollar.) 3.   Prepare entries to record the retirement of the machine under each of the following unrelated assumptions:   a. It was sold for $35,000.   b. It was sold for $38,000.   c.…

On November 1, 2023, the company purchased additional equipment at a cost of $50,000. This equipment has a $15,000 salvage value, a 5 year life and is depreciated using the straight-line method. Annual depreciation expense for all other equipment is $108,000. The annual depreciation expense for the buildings is $52,000. (Hint: Debit Depreciation expense for the total but book the accumulated depreciation to the building and equipment to separate accounts.) What is the adjusting entry?