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Can anyone help me these problems? Thank you. Plant Assets (Depreciation & Disposal) Little...

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Can anyone help me these problems? Thank you.

Plant Assets (Depreciation & Disposal) Little Ricky Company, a toy manufacturer, purchased a teddy bear stuffing machine on January 1, 2019 for $265,000. The estimated life of the equipment is five years or 500,000 units. The estimated salvage value is $15,000. The machine produced 120,000 units, in 2019 and 150,000 units in 2020. Part 1: Requirements: Calculate depreciation expense for 2019 and 2020 using: 1.) The straight-line depreciation method 2.) The units-of-production depreciation method 3.) The double-declining-balance depreciation method Show your work! Attach any scratch paper needed. Part 2: Requirements: On June 30, 2021, the company sells the teddy bear stuffing machine for $165,000 cash. Little Ricky Company only records depreciation expense annually. Therefore, prepare any necessary journal entries at June 30, 2021 involved in recording the sale. Assume the company uses the straight-line method depreciation for all plant assets. Date Accounts Debit Credit

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