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Required Information [The following information applies to the questions displayed below] At the beginning of the year, Goldenrod Corporation bought a shed, a machine, and a traller. The shed inimally cost $20,000 but had to be renovated at a cost of $480. The shed was expected to last 7 years, with a resldual value of $1,300. Repairs costing $300 were incurred at the end of the first year of use. The machine cost $11,100, and is estimated to have a total life of 40,000 hours and residual value of $900. The machine was actually used 2.000 hours in year 1 and 4.000 hours in year 2 The tratler cost $11,000 and was expected to last 4 years, with a residual value of $2,000. Required: 1. Compute the amount to be capitalized for the shed. Required Information [The following information applies to the questions displayed below] At the beginning of the year, Goldenrod Corporation bought a shed, a machine, and a traller. The shed initially cost $20.000 but had to be renovated at a cost of $480. The shed was expected to last. 7 years, with a residual value of $1,300. Repairs costing $300 were incurred at the end of the first year of use. The machine cost $11.100, and is estimated to have a total life of 40.000 hours and residual value of $900. The machine was actually used 2,000 hours in year 1 and 4.000 hours in year 2 . The traller cost $11,000 and was expected to last 4 years, with a residual value of $2,000. 2. Compute year 2 straight-line depreciation expense for the shed and prepare the journal entry to record it. (if no entry is requirec for a transaction/event, select "No Journal Entry Required" In the first account field.) Required Information [The following information applies to the questions displayed below] At the beginning of the year, Goldenrod Corporation bought a shed, a machine, and a trallet, The shed initally cost $20,000 but had to be renovated at a cost of $480. The shed was expected to last 7 years, with a residual value of $1,300. Repairs costing $300 were incurred at the end of the first year of use. The machine cost $11,100, and is estimated to have a total iffe of 40,000 hours and residual value of $900. The machine was actually used 2,000 hours in year 1 and 4,000 hours in year 2 . The traller cost $11,000 and was expected to last 4 years, with a residual value of $2,000. . Compute year 2 units-of-production depreciation expense for the machine. (Do not round Intermediate calculations.) Required Information [The following information applies to the questions displayed below] At the beginning of the year, Goldenrod Corporation bought a shed, a machine, and a traller. The shed Initially cost $20,000 but had to be renovated at a cost of $480. The shed was expected to last 7 years, with a residual value of $1,300. Repairs costing $300 were incurred at the end of the first year of use. The machine cost $11,100, and is estimated to have a total life of 40,000 hours and residual value of $900. The machine was actually used 2,000 hours in year 1 and 4,000 hours in year 2 The traller cost $11,000 and was expected to last 4 years, with a residual value of $2.000. 4. Prepare the joumal entry to record year 2 units-of-production depreciation expense for the machine. (Do not round Intermediate calculations. If no entry is required for a transaction/event, select "No Journal Entry Required" In the first occount field.) Journal entry worksheet Record the year 2 depreciation expense for the machine. Notel Enter debits before credita. Required Information [The following information applies to the questions displayed below] At the beginning of the year, Goldenrod Corporation bought a shed, a machine, and a traller. The shed initially cost $20.000 but had to be renovated at a cost of $480. The shed was expected to last 7 years, with a residual value of $1,300. Repairs costing $300 were incurred at the end of the first year of use. The machine cost $11.100, and is estimated to have a total iffe of 40,000 hours and residual value of $900. The machine was actually used 2.000 hours in year 1 and 4,000 hours in year 2 . The traller cost $11,000 and was expected to last 4 years, with a residual value of $2,000. 5. Compute years 1 and 2 double-decilining-balance depreciation expense for the traller. Required information [The following information applies to the questions displayed below]. At the beginning of the year, Goldenrod Corporation bought a shed, a machine, and a traller. The shed initially cost $20,000 but had to be renovated at a cost of $480. The shed was expected to last 7 years, with a residual value of $1,300. Repairs costing $300 were incurred at the end of the first year of use: The machine cost $11,100, and is estimated to have a total ilfe of 40.000 hours and residual value of $900. The machine was actually used 2,000 hours in year 1 and 4.000 hours in year 2 . The tratter cost $11,000 and was expected to last 4 years, with a residual value of $2,000. 6. Prepare the journal entry to record year 2 double-declining balance depreclation expense for the traller. (If no entry is required for o trensaction/event, select "No Journol Entry Required" In the first occount fleld.) Journal entry worksheet Record the year 2 depreciation expense for the trailer. Notei Enter debits before credits. Required Information [The following information applies to the questions displayed below] At the beginning of the year, Goldenrod Corporation bought a shed, a machine, and a traller. The shed inimally cost $20,000 but had to be renovated at a cost of $480. The shed was expected to last 7 years, with a resldual value of $1,300. Repairs costing $300 were incurred at the end of the first year of use. The machine cost $11,100, and is estimated to have a total life of 40,000 hours and residual value of $900. The machine was actually used 2.000 hours in year 1 and 4.000 hours in year 2 The tratler cost $11,000 and was expected to last 4 years, with a residual value of $2,000. Required: 1. Compute the amount to be capitalized for the shed. Required Information [The following information applies to the questions displayed below] At the beginning of the year, Goldenrod Corporation bought a shed, a machine, and a traller. The shed initially cost $20.000 but had to be renovated at a cost of $480. The shed was expected to last. 7 years, with a residual value of $1,300. Repairs costing $300 were incurred at the end of the first year of use. The machine cost $11.100, and is estimated to have a total life of 40.000 hours and residual value of $900. The machine was actually used 2,000 hours in year 1 and 4.000 hours in year 2 . The traller cost $11,000 and was expected to last 4 years, with a residual value of $2,000. 2. Compute year 2 straight-line depreciation expense for the shed and prepare the journal entry to record it. (if no entry is requirec for a transaction/event, select "No Journal Entry Required" In the first account field.) Required Information [The following information applies to the questions displayed below] At the beginning of the year, Goldenrod Corporation bought a shed, a machine, and a trallet, The shed initally cost $20,000 but had to be renovated at a cost of $480. The shed was expected to last 7 years, with a residual value of $1,300. Repairs costing $300 were incurred at the end of the first year of use. The machine cost $11,100, and is estimated to have a total iffe of 40,000 hours and residual value of $900. The machine was actually used 2,000 hours in year 1 and 4,000 hours in year 2 . The traller cost $11,000 and was expected to last 4 years, with a residual value of $2,000. . Compute year 2 units-of-production depreciation expense for the machine. (Do not round Intermediate calculations.) Required Information [The following information applies to the questions displayed below] At the beginning of the year, Goldenrod Corporation bought a shed, a machine, and a traller. The shed Initially cost $20,000 but had to be renovated at a cost of $480. The shed was expected to last 7 years, with a residual value of $1,300. Repairs costing $300 were incurred at the end of the first year of use. The machine cost $11,100, and is estimated to have a total life of 40,000 hours and residual value of $900. The machine was actually used 2,000 hours in year 1 and 4,000 hours in year 2 The traller cost $11,000 and was expected to last 4 years, with a residual value of $2.000. 4. Prepare the joumal entry to record year 2 units-of-production depreciation expense for the machine. (Do not round Intermediate calculations. If no entry is required for a transaction/event, select "No Journal Entry Required" In the first occount field.) Journal entry worksheet Record the year 2 depreciation expense for the machine. Notel Enter debits before credita. Required Information [The following information applies to the questions displayed below] At the beginning of the year, Goldenrod Corporation bought a shed, a machine, and a traller. The shed initially cost $20.000 but had to be renovated at a cost of $480. The shed was expected to last 7 years, with a residual value of $1,300. Repairs costing $300 were incurred at the end of the first year of use. The machine cost $11.100, and is estimated to have a total iffe of 40,000 hours and residual value of $900. The machine was actually used 2.000 hours in year 1 and 4,000 hours in year 2 . The traller cost $11,000 and was expected to last 4 years, with a residual value of $2,000. 5. Compute years 1 and 2 double-decilining-balance depreciation expense for the traller. Required information [The following information applies to the questions displayed below]. At the beginning of the year, Goldenrod Corporation bought a shed, a machine, and a traller. The shed initially cost $20,000 but had to be renovated at a cost of $480. The shed was expected to last 7 years, with a residual value of $1,300. Repairs costing $300 were incurred at the end of the first year of use: The machine cost $11,100, and is estimated to have a total ilfe of 40.000 hours and residual value of $900. The machine was actually used 2,000 hours in year 1 and 4.000 hours in year 2 . The tratter cost $11,000 and was expected to last 4 years, with a residual value of $2,000. 6. Prepare the journal entry to record year 2 double-declining balance depreclation expense for the traller. (If no entry is required for o trensaction/event, select "No Journol Entry Required" In the first occount fleld.) Journal entry worksheet Record the year 2 depreciation expense for the trailer. Notei Enter debits before credits

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