E9-8 (Algo) Computing and Recording Double-Declining-Balance Depreciation [LO 9-3] Turquoise Associates bought a machine at the...

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E9-8 (Algo) Computing and Recording Double-Declining-Balance Depreciation [LO 9-3] Turquoise Associates bought a machine at the beginning of the year at a cost of $21,500. The estimated useful life was five years and the residual value was $2,000. Required: 1. Complete a depreciation schedule for the double-declining-balance method. 2. Prepare the journal entry to record Year 2 depreciation. Complete this question by entering your answers in the tabs below. S Required 1 Required 2 Complete a depreciation schedule for the double-declining-balance method. (Do not round intermediate calculations. Round final answers to the nearest whole dollars.) Income Statement Year Depreciation Cost Expense Balance Sheet Accumulated Depreciation Book Value At acquisition 1 $ 21,500 2 $ 21,500 3 $ 21,500 4 $ 21,500 5 $ 21,500 < Required 1 Required 2 > E9-8 (Algo) Computing and Recording Double-Declining-Balance Depreciation [LO 9-3] Turquoise Associates bought a machine at the beginning of the year at a cost of $21,500. The estimated useful life was five years and the residual value was $2,000. Required: 1. Complete a depreciation schedule for the double-declining-balance method. 2. Prepare the journal entry to record Year 2 depreciation. Complete this question by entering your answers in the tabs below. S Required 1 Required 2 Complete a depreciation schedule for the double-declining-balance method. (Do not round intermediate calculations. Round final answers to the nearest whole dollars.) Income Statement Year Depreciation Cost Expense Balance Sheet Accumulated Depreciation Book Value At acquisition 1 $ 21,500 2 $ 21,500 3 $ 21,500 4 $ 21,500 5 $ 21,500 < Required 1 Required 2 >