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is this the right answer Required information (The following information applies to the questions displayed below.] On April 1, Cyclone's Co. purchases a trencher for
is this the right answer Required information (The following information applies to the questions displayed below.] On April 1, Cyclone's Co. purchases a trencher for $312,000. The machine is expected to last five years and have a salvage value of $56,000. Compute depreciation expense at December 31 for both the first year and second year assuming the company uses the double- declining balance method. (Enter all amounts as positive values.) Depreciation for the Period End of Period Beginning of Annual Period Period Book Depreciation Partial Depreciation Accumulated Rate Book Value Value Year Expense Depreciation Year 1 $ 312,000 40% 9/12 93,600 $ 93,600 $ 218,400 Year 2 $ 218,400 40% 12/12 s 87,360 $ 180,960 $ 131,040
is this the right answer
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