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  3. 1.) the cost of an asset is $ 1,080, 000, and its

1.) The cost of an asset is $ 1,080, 000, and its residual value is...

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Accounting

1.) The cost of an asset is $ 1,080, 000, and its residual value is $ 290,000. Estimated useful life of the asset is five years. Calculate depreciation for the first year using the double-declining-balance method of depreciation. (Do not round any intermediate calculations, and round your final answer to the nearest dollar.

2.)On January 1, 2018, Tyson Manufacturing Corporation purchased a machine for $40,600,000. Tyson's management expects to use the machine for 28,000 hours over the next six years. The estimated residual value of the machine at the end of the sixth year is $43,000. The machine was used for 3,700 hours in 2018 and 5,100 hours in 2019. What is the depreciation expense for 2018 if the corporation uses the unitsofproduction method of depreciation? (Round any intermediate calculations to two decimal places, and your final answer to the nearest dollar.)

3.) Orbit Services, Inc. pays $760,000 to acquire 30% (200,000 shares) of the voting stock of State Investments, Inc. on January 5, 2019. State Investments, Inc. declares and pays a cash dividend of $2.40 per share on June 14, 2019. Which of the following is the correct journal entry for the transaction on June 14, 2019?

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