Required information [The following information applies to the questions displayed below.] On April 1, Cyclone Company purchases a trencher for $288,000. The machine is expected to last five years and have a salvage value of $44,000. 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. Year Year 1 Year 2 Depreciation for the Period End of Period Beginning of Period Book Depreciation Rate Partial Year Depreciation Accumulated Book Value Expense Depreciation Value

FINANCIAL ACCOUNTING
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ISBN:9781259964947
Author:Libby
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Chapter1: Financial Statements And Business Decisions
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Required information
[The following information applies to the questions displayed below.]
On April 1, Cyclone Company purchases a trencher for $288,000. The machine is expected to last five years
and have a salvage value of $44,000.
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.
Year
Year 1
Year 2
Depreciation for the Period
End of Period
Beginning of
Period Book
Depreciation
Rate
Partial
Year
Depreciation Accumulated
Expense Depreciation
Book Value
Value
Transcribed Image Text:! Required information [The following information applies to the questions displayed below.] On April 1, Cyclone Company purchases a trencher for $288,000. The machine is expected to last five years and have a salvage value of $44,000. 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. Year Year 1 Year 2 Depreciation for the Period End of Period Beginning of Period Book Depreciation Rate Partial Year Depreciation Accumulated Expense Depreciation Book Value Value
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