Jan 1. Year 1. Company ABC purchased a machine costing $25,000 with a salvage value $1.000 and a 4 year useful The company is using straight line depreciation method Prepare the Depreciation Schedule for the machine Straight line method Depreciation Schedule Year How much the depreciation expense for Year 1? How much is the Accumulated Depreciation Expense at end of Year 1? How much is the Book Value of the machine at end of Year 1? How much the depreciation expense for Year 2? How much is the Accumulated Depreciation Expense at end of Year 2? How much is the Book Value of the machine at end of Year 2? How much the depreciation expense as of July 1 of Year 2? How much is the Accumulated Depreciation Expense as of July 1 of Year 2? How much is the Book Value of the machine as of July 1 of Year 2? (Hint: is it full year for Year 2 or just partial? Redo the depreciation Schedule) Straight line method Depreciation Schedule Year How much the depreciation expense as of July 1 of Year 3? How much is the Accumulated Depreciation Expense as of July 1 of Year 3? How much is the Book Value of the machine as of July 1 of Year 3? Straight line method Depreciation Schedule Year