i need help in double dminishing balance the red boxes are incorrect ...
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i need help in double dminishing balance the red boxes are incorrect
Sheridan Productions Corp. purchased equipment on March 1, 2021, for $64,000. The company estimated the equipment would have a useful life of three years and produce 10,000 units, with a residual value of $10,000. During 2021 , the equipment produced 4,000 units. On November 30,2022 , the machine was sold for $18,000 and had produced 6,400 units that year. (a) Your answer is partially correct. Record all the necessary journal entries for the years ended December 31, 2021 and 2022, using the following depreciation methods: (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 the depreciation rote in the double-diminishing-balance method to the nearest whole percent, eg. 43% and round depreciation per unit in the units-of-production depreciation method to 2 decimal places, es. 2.25 and final answers to 0 decimal places, eg. 5,275.) (1) Straight-line Question 1 of 3 Accumulated Depreciation - Equipment 2022 Nov. 30 Depreciation Expense 16500 Accumulated Depreciation- Equipment (To record depreciation expense) Nov. 30 Cash \begin{tabular}{|l|l|} \hline 118000 \\ \hline \end{tabular} Accumulated Depreciation-Equipment \begin{tabular}{|r|} \hline 31500 \\ \hline 14500 \\ \hline \end{tabular} Equipment (To record the sale of machine) (2) Double-diminishing-balance Date Account Titles and Explanation Debit Credit 2021 Mar, 1 Equipment Cash Dec. 31 Depreciation Expense (2) Double-diminishins-balance
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