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at the beginning of the year oakmont company bought three...

Question: at the beginning of the year oakmont company bought three...

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At the beginning of the year, Oakmont Company bought three used machines from American Manufacturing, Inc. The machines immediately were overhauled, were installed, and started operating. Because the machines were different, each was recorded separately in the accounts. Machine AMachine BMachine C $11,700 Amount paid for asset Installation costs Renovation costs prior to use Repairs after production begarn $21,280 1,10e 900 220 $11,400 200 700 580 900 700 2,500 By the end of the first year each machine had been operating 4.000 hours Required: 1. Compute the cost of each machine 2. Prepare the journal entry to record depreciation expense at the end of year t, assuming the following Residusl Value $1,500 1,400 Depreciation Hethod 28,0e0 hours 10 years Units of production Cooble declining-balance

Complete this question by entering your answers in the tabs below. Required 1 Required 2 Compute the cost of each machine. Cost of Machine Machine A Machine B Machine C Required 2 >

Journal entry worksheet Record the depreciation expense for the three used machines at the end of year 1 assuming each machine has its own accumulated depreciation account. Note: Enter debits before credits Transaction General Journal Debit Credit

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