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

Essay

A company's property records revealed the following information about its plant assets:
$$\begin{array} { | l | r | r | l | l | l | } \hline \begin{array} { l } \text { Machine } \\\text { No. }\end{array} & { \text { Cost } } & \begin{array} { l } \text { Salvage } \\\text { Value }\end{array} & \begin{array} { l } \text { Purchase } \\\text { Date }\end{array} & \begin{array} { l } \text { Estimated } \\\text { Life }\end{array} & \text { Depreciation Method } \\\hline 1 & \$ 42,000 & \$ 3,000 & 101 & 3 \text { years } & \text { Straight-line } \\\hline 2 & 86,000 & 8 , 6 0 0 & 7 / 01 & 5 \text { years } & \text { Double-declining balanes } \\\hline\end{array}$$ 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 _______________________