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Chapter 08 Homework i 7 Part 2 of 3 1.87 points eBook Print References Mc Graw Hill LTI Launch Required information [The following information applies to the questions displayed below.] Onslow Company purchased a used machine for $144,000 cash on January 2. On January 3, Onslow paid $8,000 to wire electricity to the machine. Onslow paid an additional $1,600 on January 4 to secure the machine for operation. The machine will be used for six years and have a $17,280 salvage value. Straight-line depreciation is used. On December 31, at the end of its fifth year in operations, it is disposed of. 2. Prepare journal entries to record depreciation of the machine at December 31. View transaction list Journal entry worksheet 1 2 Record the first year year-end adj the used machine. Note: Enter debits before credits. Saved ting entry for the depreciation expense of Date General Journal December 31 Depreciation expense-Machinery Accumulated depreciation-Machinery Help Save & Exit Check my

Required intormation IThe following intormation applies to the questions displayed boiow] Onsiow Company purchased a used machine for $144,000 cash on January 2 . On January 3, Onslow pold $8,000 to wire electricity to the machine. Onslow paid an additional $1,600 on January 4 to secure the machine for operation. The machine will be used for six years and have a $17,280 salvage value. Straight-line depreclotion is used On December 31 at the end of its fith yeor in operations, it is disposed of. 2. Prepare journat entries to record depreciation of the machine at December 31. Journal entry worksheet Hecord the first year year-end adfusting entry for the depreciation expense of the used machine. Hicie- Enter debas Exforemarta. 2. Prepare journal entries to record depreclation of the machine at Docember 31. Journal entry worksheet flecord the first year year-end adjusting entry for the depreclabse expeisse of the used machine. Wote: f-ter debte befare crbelth. 2. Prepare journal entries to record depreciation of the machine at December 31 . Journal entry worksheet Recerd the year of disposal year-end adjusting entry for the depreciation expense of the used machine. Note, Enter debits befane erests

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