Swanson & Hiller, Inc., purchased a new machine on September 1, 2008, at a cost of $108,000. The machine's estimated useful life at the time of the purchase was five years, and its residual value was $8,000. a.1 Prepare a complete depreciation schedule, beginning with calendar year 2008, using the straight-line method (assume that the half-year convention is used). (Omit the "$" sign in your response): Accumulat Depreciati ed Year on Depreciati Expense on Book Value 2008 $ $ $ 2009 2010 2011 2012 2013 a.2 Prepare a complete depreciation schedule, beginning with calendar year 2008, using the 200 percent decliningbalance schedule method (assume that the half-year convention is used). (Round your answers to the nearest dollar amount. Omit the "$" sign in your response): Year 2008 2009 2010 2011 2012 2013 Accumulat Depreciati ed on Depreciati Expense on $ Book Value $ $ a.3 Prepare a complete depreciation schedule, beginning with calendar year 2008, using the 150 percent decliningbalance schedule method, switching to straight-line when that maximizes the expense (assume that the halfyear convention is used). (Round your answers to the nearest dollar amount. Omit the "$" sign in your response): Accumulat Depreciati ed Year on Depreciati Expense on Book Value 2008 $ $ $ 2009 2010 2011 2012 2013 b. Which of the three methods computed in part a is most common for financial reporting purposes? 150 percent declining-balance method. Straight-line method. 200 percent declining-balance method. c. Assume that Swanson & Hiller sells the machine on December 31, 2011, for $28,000 cash. Compute the resulting gain or loss from this sale under each of the depreciation methods used in part a. (Loss amounts should be indicated by a minus sign. Omit the "$" sign in your response.) Straight-line $ 200 percent declining-balance. $ 150 percent declining-balance. $ Millar, Inc., purchased a truck to use for deliveries and is attempting to determine how much depreciation expense would be recognized under three different methods. The truck cost $20,000 and is expected to have a value of $4,000 at the end of its five-year life. The truck is expected to be used at the rate of 10,000 miles in the first year, 20,000 miles in the second and third years, and 15,000 miles in the fourth and fifth years. a. Determine the amount of depreciation expense that will be recognized under each of the following depreciation methods in the first and second years of the truck's useful life. A full year's depreciation will be recognized in the first year the truck is used. (Omit the "$" sign in your response.) 1st year 1. 2. 3. Straight-line. Double-decliningbalance. Units-of-output (based on miles). 2nd year $ $ $ $ $ $ b. Prepare the plant assets section of the balance sheet at the end of the second year of the asset's useful life under the double-declining-balance method, assuming the truck is the only plant asset owned by Millar, Inc. (Amounts to be deducted should be indicated with a minus sign. Omit the "$" sign in your response.) $ $