On April 1, Cyclone Company purchases a trencher for $280,000. The machine is expected to last five years and have a salvage value of $40,000. Compute depreciation expense at December 31 for both the first year and second year assuming the company uses the double- declining-balance method. Note: Enter all amounts as positive values. Annual Period Beginning of Period Book Value Year 1 Year 2 Depreciation for the Period Depreciation Rate Partial Year Depreciation Expense End of Period Accumulated Depreciation $ $ Book Value 0 $ 0 $ 0 0
On April 1, Cyclone Company purchases a trencher for $280,000. The machine is expected to last five years and have a salvage value of $40,000. Compute depreciation expense at December 31 for both the first year and second year assuming the company uses the double- declining-balance method. Note: Enter all amounts as positive values. Annual Period Beginning of Period Book Value Year 1 Year 2 Depreciation for the Period Depreciation Rate Partial Year Depreciation Expense End of Period Accumulated Depreciation $ $ Book Value 0 $ 0 $ 0 0
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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On April 1, Cyclone Company purchases a trencher for $280,000. The machine is expected to last five years and have a
salvage value of $40,000.
Compute depreciation expense at December 31 for both the first year and second year assuming the company uses the double-
declining-balance method.
Note: Enter all amounts as positive values.
Annual Period Beginning of
Period Book
Value
Year 1
Year 2
Depreciation for the Period
Depreciation
Rate
Partial Year
End of Period
Depreciation Accumulated
Expense Depreciation
$
$
0
0
Book Value
$
$
0
O O
0](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fa5662197-50bd-4d63-a5ca-c2b9744d9cef%2F02226401-a4eb-48eb-8d58-a2a1fcde25ef%2Fs0gz9gi_processed.png&w=3840&q=75)
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Required information
[The following information applies to the questions displayed below.]
On April 1, Cyclone Company purchases a trencher for $280,000. The machine is expected to last five years and have a
salvage value of $40,000.
Compute depreciation expense at December 31 for both the first year and second year assuming the company uses the double-
declining-balance method.
Note: Enter all amounts as positive values.
Annual Period Beginning of
Period Book
Value
Year 1
Year 2
Depreciation for the Period
Depreciation
Rate
Partial Year
End of Period
Depreciation Accumulated
Expense Depreciation
$
$
0
0
Book Value
$
$
0
O O
0
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