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On April 1, Cyclone Co. purchases a trencher for $280,000. The machine is expected to last five years and have a salvage value of $40,000
On April 1, Cyclone Co. purchases a trencher for $280,000. The machine is expected to last five years and have a salvage value of $40,000 Compute depreciation expense at December 31 for both the first year and second year assuming the company uses the straight line method Choose Numerator: Choose Denominator: Annual Depreciation Annual depreciation Beginning book value Double the SL rate 201 Year Annual Depreciation X Depreciation Expense Fraction of Year First year Second year $ $ 01x ox Pilt References [The following information applies to the questions displayed below. On April 1, Cyclone Co. purchases a trencher for $280,000. The machine is expected to last five years and have a salvage value of $40,000 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.) End of Period Depreciation for the Period Depreciation Rate Partial Year Beginning of Annual Period Period Book Value Year 1 1 Depreciation Expense Accumulated Depreciation Book Value $ 0 $ 0 Year 2 $ 0$ 0 Print References
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