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Question 5) Megan Company purchased a new machine on August 1, 2020, at a cost of $131,000. The company estimated that the machine has a salvage value of 551,452, is expected to be used for 66,290 working hours, and will have a 7-year life. Instructions A) Compute the depreciation expenss under the straight-lins msthed for 2020 2024 and 2027, assuming a December 31 year-end B) Compute the depreciation expense under the double-declining balance method for 2020 and 2021 Assume the DDB rate is 100% / 7 years x 2 = 28.57% C) Compute the depreciation expense under the units-of-activity method for 2020, assuming machine usage was 4.444 hours. (record depreciation per unit to the nearest cont.) Question 6) Wang Co. has delivery equipment that cost $68,000 and has been depreciated 531,055. Instructions: Record entries for the disposal under the following assumptions A) It was sold for $38.444 B) It was sold for $35.900. C) It was scrapped as having no value. Question 7) Presented here are selected transactions for Hamid Company for 2020 Jan. I Retired a piece of machinery that was purchased on January 1, 2010, The machine cost $99,000 on that date and had a useful life of 10 years with no salvage value. June 30 Sold a computer that was purchased on January 1, 2017. The computer cost $60,000 and had a useful life of 6 years with no salvage value. The computer was sold for $17,000 Nov. I Discarded a delivery truck that was purchased on January 1, 2017 The truck cost $34,200 and was depreciated based on an 8-year useful life with a $3,000 salvage value. Instructions: Journalire all entries required on the above dates, including entries to update depreciation, where applicable, on assets disposed of. Hamid Company uses straight-line depreciation (Assume depreciation is up to date as of December 31, 2019) Question 8) These are selected 2020 transactions for Darlene Corporation: Apr. Purchased copyright for $120,000. The copyright has a useful life of 16 years and a remaining legal life of 30 years Aug 1 Purchased a patient with an estimated useful life of 4 years and a legal life of 20 years for $54,000 Dec. 1 Purchased a small company and recorded goodwill of S150,000. Its useful life is indefinite. Instructions: Prepare all adjusting entries at December 31 to record amortization required by the events

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