What are the general accounting procedures for recording asset disposals? A company's property records revealed the following information about its plant assets: Calculate the depreciation expense for each machine for the year ended December 31, 2008 and for the year ended December 31, 2009. Machine 1: 2008 ______ 2009 _______ Machine 2: 2008 _______ 2009 __________ A company purchased a truck on October 1 of the current year at a cost of $40,000. The truck is expected to last six years and have a salvage value of $2, 200. The company's annual accounting period ends on December 31. What is the depreciation expense for the current year, assuming the straight-line method is used? What is the depreciation expense for the current year, assuming the double-declining-balance method is used