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Calculate the depreciation expense for each machine

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Reference no: EM131797476

Question - A company's property records revealed the following information about its plant assets:

Machine Salvage Purchase Depreciation Method

No Cost Value Date and Estimated Life

1 $42,000 $3,000 10/1/08 Straight-line(3years)

2 86,000 8,6000 7/1/08 Double-declining-balance(5years)

Calculate the depreciation expense for each machine for the year ended December 31, 2008, and for the year ended December 31, 2009.

Reference no: EM131797476

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