A researcher is studying peer effects on smoking. Specifical…

A researcher is studying peer effects on smoking. Specifically, she is interested whether friend’s smoking status affects ego’s smoking status. The researcher has drawn the following causal diagram, which shows the relationships between the variables that she is interested in. She asks you for suggestions for how to estimate the peer effect

3b. Puerto Company purchased a piece of machinery for $60,00…

3b. Puerto Company purchased a piece of machinery for $60,000 on January 1, 2017, and has been depreciating the machine using the sum-of-the-years’-digits method based on a five-year estimated useful life and no salvage value. On January 1, 2019, Puerto decided to switch to the straight-line method of depreciation. The salvage value is still zero and the estimated useful life did not change.   Required: Prepare the journal entry to record depreciation on this machine for 2019 (assume the 2019 books have not been closed).