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

question 74

Essay

A company's property records revealed the following information about its plant assets:
$$\begin{array} { | l | r | r | l | l | l | } \hline \begin{array} { l } \text { Machine } \\\text { No. }\end{array} & { \text { Cost } } & \begin{array} { l } \text { Salvage } \\\text { Value }\end{array} & \begin{array} { l } \text { Purchase } \\\text { Date }\end{array} & \begin{array} { l } \text { Estimated } \\\text { Life }\end{array} & \text { Depreciation Method } \\\hline 1 & \$ 82,000 & \$ 8,000 & 1 / 01 & 4 \text { years } & \text { Straight-line } \\\hline 2 & 46,000 & 3,600 & 7 / 01 & 5 \text { years } & \text { Double-declining balanes } \\\hline\end{array}$$ Calculate the depreciation expense for each machine in Year 1 and Year 2 for the year ended December 31.
Machine 1:
Year 1______________________ Year 2 _______________________
Machine 2:
Year 1 ______________________ Year 2 _______________________

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Definitions:

National Association Of Securities Dealers Automated Quotations System

An electronic marketplace for buying and selling securities, better known as NASDAQ.

Triple Bottom Line

A sustainability framework that examines a company's social, environmental, and financial performance.

Environmental Performance

A measure of how well an organization or country is progressing towards meeting its environmental goals and obligations.

Social Performance

The measure of an organization's ability to manage its socio-environmental impacts, fulfill social responsibilities, and achieve social goals.