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A Company's Property Records Revealed the Following Information About Its

Question 214

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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$82,000$8,0001/01 4 years  Straight-line 246,0003,6007/01 5 years  Double-declining balance \begin{array} { | l | r | r | r | r | c | } \hline \begin{array} { c } \text { Machine } \\\text { No. }\end{array} &{ \text { Cost } } & \begin{array} { c } \text { Salvage } \\\text { Value }\end{array} & \begin{array} { c } \text { Purchase } \\\text { Date }\end{array} & \begin{array} { c } \text { Estimated } \\\text { Life }\end{array} & \text { Depreciation Method } \\\hline 1 & \$ 82,000 & \$ 8,000 & 1 / 01 & \text { 4 years } & \text { Straight-line } \\\hline 2 & 46,000 & 3,600 & 7 / 01 & \text { 5 years } & \text { Double-declining balance } \\\hline\end{array}
Calculate the depreciation expense for each machine in Year 1 and Year 2 for the year ended December 31.
Machine 1:
Year 1 \underline{\quad\quad\quad\quad} \quad \quad Year 2 \underline{\quad\quad\quad\quad}
Machine 2:
Year 1 \underline{\quad\quad\quad\quad} \quad \quad Year 2 \underline{\quad\quad\quad\quad}

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Machine 1:
Years 1 & 2: [($82,...

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