Question 1

Concord Company purchased machinery on January 1, 2025, for $84,000. The machinery is estimated to have a salvage value of $8,400 after a useful life of 8 years.

(a)

Compute 2025 depreciation expense using the sum-of-the-years'-digits method.

Depreciation expense

$enter the depreciation expense in dollars

Nash Company purchased machinery on January 1, 2025, for $81,600. The machinery is estimated to have a salvage value of $8,160 after a useful life of 8 years.

(a)

Compute 2025 depreciation expense using the double-declining-balance method.

Depreciation expense

$enter the depreciation expense in dollars