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2. A company's property records revealed the following information about its plant assets: Machine No. Cost Salvage Value Purchase Date Depreciation Method and Estimate Life
2. A company's property records revealed the following information about its plant assets:
Machine No. | Cost | Salvage Value | Purchase Date | Depreciation Method and Estimate Life |
1 | $42,000 | $3,000 | 10/1/08 | Straight-line (3 years) |
2 | 86,000 | 8,600 | 7/1/08 | Double-declining-balance (5 years) |
Calculate the depreciation expense for each machine for the year ended December 31, 2010 and for the year ended December 31, 2009. Machine 1: 2009 _______________________ 2010 _______________________ Machine 2: 2009 _______________________ 2010 _______________________
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