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Required information Use the following information for the Exercises below. [The following information applies to the questions displayed below. On April 1, Cyclone's Co. purchases a trencher for $310,000. The machine is expected to last five years and have a salvage value of $55,000. Exercise 8-12 Double-declining-balance, partial-year depreciation LO C2 Compute depreciation expense at December 31 for both the first year and second year assuming the company uses the double- declining-balance method. (Enter all amounts as positive values.) Depreciation for the Period End of Period Depreciation Rate Partial Year Depreciation Expense Book Value Beginning of Annual Period Period Book Value Year 1 Year 2 Accumulated Depreciation 0 0 $ 0 $ $ Required information Use the following information for the Exercises below. [The following information applies to the questions displayed below. On April 1, Cyclone's Co. purchases a trencher for $310,000. The machine is expected to last five years and have a salvage value of $55,000. Exercise 8-11 Straight-line, partial-year depreciation LO C2 Compute depreciation expense at December 31 for the first and second year assuming the company uses the straight-line method. Choose Denominator: Estimated useful life (years) Choose Numerator: Cost minus salvage $ 255,000 Annual Depreciation - Annual Depreciation = Annual depreciation 51,000 = Depreciation Expense Year x Fraction of Year First year Second year 51,000 x 51,000 x Exercise 8-13 Revising depreciation LO C2 Apex Fitness Club uses straight-line depreciation for a machine costing $27,850, with an estimated four-year life and a $2,850 salvage value. At the beginning of the third year, Apex determines that the machine has three more years of remaining useful life, after which it will have an estimated $2,400 salvage value. Required: 1. Compute the machine's book value at the end of its second year. 2. Compute the amount of depreciation for each of the final three years given the revised estimates. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Compute the machine's book value at the end of its second year. Book Value at the End of Year 2: Cost Accumulated depreciation 2 years Book value at point of revision Exercise 8-13 Revising depreciation LO C2 Apex Fitness Club uses straight-line depreciation for a machine costing $27,850, with an estimated four-year life and a $2,850 salvage value. At the beginning of the third year, Apex determines that the machine has three more years of remaining useful life, after which it will have an estimated $2,400 salvage value. Required: 1. Compute the machine's book value at the end of its second year. 2. Compute the amount of depreciation for each of the final three years given the revised estimates. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Compute the amount of depreciation for each of the final three years given the revised estimates. (Do not round intermediate calculations. Round your answers to the nearest whole dollar.) Revised Depreciation (Years 3-5) Book value at point of revision Revised salvage value Remaining depreciable cost Years of life remaining Revised annual depreciation years 3-5

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