a$.$ Gold Co$.$ acquired a machine on Jan. $1,2023,$ at a cost of $56,000.$ The machine has an estimated salvage value of $$3,500$ at the end of its $7-$year useful life. The depreciation adjustment is done at the end of every calendar year.

Depreciation method

Depreciation expense for $2023$Depreciation expense for $2024$

Book value as of Dec. $31,2024$

Sum$-$of$-$the$-$years' $-$ digitsD

ouble declining balance

Silver Co$.$ acquired a machine on November $1,2023,$ at a cost of $$56,000.$ The machine has an estimated salvage value of $ $3,500$ at the end of its $7-$year useful life. The depreciation adjustment is done at the end of every calendar year.

Final answer summarized in table