E9-3 determining financial statement effects of an asset acquisition and straight-line depreciation [lo 9-2, lo 9-3] o’connor company ordered a machine on january 1 at a purchase price of $35,000. on the date of delivery, january 2, the company paid $9,000 on the machine and signed a long-term note payable for the balance. on january 3, it paid $400 for freight on the machine. on january 5, o’connor paid cash for installation costs relating to the machine amounting to $2,100. on december 31 (the end of the accounting period), o’connor recorded depreciation on the machine using the straight-line method with an estimated useful life of 10 years and an estimated residual value of $3,800.

required:

indicate the effects (accounts, amounts, and + for increase, − for decrease) of each transaction (on january 1, 2, 3, and 5) on the accounting equation.
compute the acquisition cost of the machine.
compute the depreciation expense to be reported for the first year.
what should be the book value of the machine at the end of the second year?

With q7 assume the sweet company uses a plantwide predetermined overhead rate with machine-hours as the allocation base. and for q 10,11,13,and 14,assume that the company use department predetermined overhead rates with machine-hours as the allocation bade in both departements.7. assume that sweeten company used cost-plus pricing (and a markup percentage of 80% of total manufacturing cost) to establish selling prices for all of its jobs. what selling price would the company have established for jobs p and q? what are the selling prices for both jobs when stated on a per unit basis assuming 20 units were produced for job p and 30 units were produced for job q? (do not round intermediate calculations. round your final answers to nearest whole dollar.)total price for the job for job p -job q selling price per unit for job p q . how much manufacturing overhead was applied from the molding department to job p and how much was applied to job q? (do not round intermediate calculations.) job p job q manufacturing overhead applied for job p for job q . how much manufacturing overhead was applied from the fabrication department to job p and how much was applied to job q? (do not round intermediate calculations.)job p job q manufacturing overhead applied for job p for job q . if job q included 30 units, what was its unit product cost? (do not round intermediate calculations. round your final answer to nearest whole dollar.)14. assume that sweeten company used cost-plus pricing (and a markup percentage of 80% of total manufacturing cost) to establish selling prices for all of its jobs. what selling price would the company have established for jobs p and q? what are the selling prices for both jobs when stated on a per unit basis assuming 20 units were produced for job p and 30 units were produced for job q? (do not round intermediate calculations. round your final answer to nearest whole dollar.)total price for the job p for job q selling price per unit for job p for job q