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A company's property records revealed the following information about its plant assets: Machine Salvage Purchase Depreciation Method No Cost Value Date and Estimated Life 1
A company's property records revealed the following information about its plant assets: Machine Salvage Purchase Depreciation Method No Cost Value Date and Estimated Life 1 $42,000 $3,000 10/1/08 Straight-line(3years) 2 86,000 8,6000 7/1/08 Double-declining-balance(5years) Calculate the depreciation expense for each machine for the year ended December 31, 2008, and for the year ended December 31, 2009. Machine1: 2008_______________ 2009________________ Machine2: 2008________________ 2009_________________
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