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Required information (The following information applies to the questions displayed below.) In early January 2018, NewTech purchases computer equipment for $169,000 to use in operating activities for the next four years. It estimates the equipment's salvage value at $32,000. Prepare a table showing depreciation and book value for each of the four years assuming double-declining-balance depreciation. (Enter all amounts as positive values.) End of Period Accumulated Year-End Depreciation Book Value Depreciation for the Period Beginning-Year Depreciation Annual Book Value Rate Depreciation $ 169,000 $ 34,250 Year 2018 2019 2020 2021 Total $ 34,250 (The following information applies to the questions displayed below.) Onslow Co. purchases a used machine for $288,000 cash on January 2 and readies it for use the next day at a $8,000 cost. On January 3, it is installed on a required operating platform costing $1,600, and it is further readied for operations. The company predicts the machine will be used for six years and have a $34,560 salvage value. Depreciation is to be charged on a straight-line basis. On December 31, at the end of its fifth year in operations, it is disposed of. 3. Prepare journal entries to record the machine's disposal under each of the following separate assumptions: (a) it is sold for $20,500 cash; (b) it is sold for $82,000 cash; and (c) it is destroyed in a fire and the insurance company pays $31,000 cash to settle the loss claim. View transaction list View journal entry worksheet No Date Debit Credit 1 Dec 31 General Journal Cash Accumulated depreciation-Machinery Loss on sale of machinery Machinery 20,500 219,200 2 Dec. 31 82,000 Cash Accumulated depreciation Machinery Gain on sale of machinery Machinery 3 Dec 31 Cash 31,000 Accumulated depreciation Machinery Loss from fire Machinery

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