Problems
174. A company’s property records revealed the following information about its plant assets:
Machine No.
Cost
Salvage Value
Purchase Date
Estimated Life
Depreciation Method
1
$42,000
$3,000
10/1
3 years
Straight-line
2
86,000
8,600
7/01
5 years
Double-declining balance
Calculate the depreciation expense for each machine in Year 1 and Year 2 for the year ended December 31.
Machine 1:Year 1______________________ Year 2 _______________________Machine 2:Year 1 ______________________Year 2 _______________________
175. A company’s property records revealed the following information about its plant assets:
$82,000
$8,000
1/01
4 years
46,000
3,600
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