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

question 60

Essay

A company's property records revealed the following information about its plant assets:
$$\begin{array} { | c | c | c | c | l | } \hline \begin{array} { c } \text { Machire } \\\text { No. }\end{array} & \text { Cost } & \text { Salvage Value } & \text { Purchase Date } & \begin{array} { c } \text { Depreciation Method and } \\\text { Estimate Life }\end{array} \\\hline 1 & \$ 42,000 & \$ 3,000 & 10 / 1 / 12 & \text { Straight-line (3 years) } \\\hline 2 & 86,000 & 8,600 & 7 / 1 / 12 & \begin{array} { l } \text { Double-declining-balance } \\\text { (5 years) }\end{array} \\\hline\end{array}$$
Calculate the depreciation expense for each machine for the year ended December 31,2013,and for the year ended December 31,2012.
Machine 1:
2012 _______________________
2013 _______________________
Machine 2:
2012 _______________________
2013 _______________________