On April 1, Cyclone Company purchases a trencher for $298,000. The machine is expected to last...

 

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On April 1, Cyclone Company purchases a trencher for $298,000. The machine is expected to last five years and have a salvage value of $49,000. Compute depreciation expense at December 31 for both the first year and second year assuming the company uses the double- declining-balance method. Note: Enter all amounts as positive values. Depreciation for the Period End of Period Annual Period Beginning of Period Book Value Depreciation Rate Partial Depreciation Accumulated Year Expense Depreciation Book Value Year 1 Year 2 On April 1, Cyclone Company purchases a trencher for $298,000. The machine is expected to last five years and have a salvage value of $49,000. Compute depreciation expense at December 31 for both the first year and second year assuming the company uses the double- declining-balance method. Note: Enter all amounts as positive values. Depreciation for the Period End of Period Annual Period Beginning of Period Book Value Depreciation Rate Partial Depreciation Accumulated Year Expense Depreciation Book Value Year 1 Year 2