Use the following information for the Exercises below. (Algo) [The following information applies to the questions displayed below.] On April 1, Cyclone Company purchases a trencher for $304,000. The machine is expected to last five years and have a salvage value of $52,000. Exercise 8-12 (Algo) Double-declining-balance, partial-year depreciation LO C2 Compute depreciation expense at December 31 for both the first year and second year assuming the company uses the double- declining-balance method. (Enter all amounts as positive values.) Annual Period Beginning of Period Book Value Year 1 Year 2 Depreciation for the Period Depreciation Partial Depreciation Rate Year Expense End of Period Accumulated Depreciation $ $ 0 0 Book Value $ $ 0 0

FINANCIAL ACCOUNTING
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Chapter1: Financial Statements And Business Decisions
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Use the following information for the Exercises below. (Algo)
[The following information applies to the questions displayed below.]
aw
11
On April 1, Cyclone Company purchases a trencher for $304,000. The machine is expected to last five years and have a
salvage value of $52,000.
Exercise 8-12 (Algo) Double-declining-balance, partial-year depreciation LO C2
Compute depreciation expense at December 31 for both the first year and second year assuming the company uses the double-
declining-balance method. (Enter all amounts as positive values.)
Annual Period Beginning of
Period Book
Value
Year 1
Year 2
Depreciation for the Period
Depreciation Partial
Rate
Year
Depreciation
Expense
< Prev
Accumulated
Depreciation
$
$
End of Period
6
Book Value
0 $
of 7
0
0
Next >
Transcribed Image Text:Use the following information for the Exercises below. (Algo) [The following information applies to the questions displayed below.] aw 11 On April 1, Cyclone Company purchases a trencher for $304,000. The machine is expected to last five years and have a salvage value of $52,000. Exercise 8-12 (Algo) Double-declining-balance, partial-year depreciation LO C2 Compute depreciation expense at December 31 for both the first year and second year assuming the company uses the double- declining-balance method. (Enter all amounts as positive values.) Annual Period Beginning of Period Book Value Year 1 Year 2 Depreciation for the Period Depreciation Partial Rate Year Depreciation Expense < Prev Accumulated Depreciation $ $ End of Period 6 Book Value 0 $ of 7 0 0 Next >
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Section 179 Deduction and Modified Accelerated Cost Recovery System (MACRS) Depreciation
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