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Pedro Company has $65,000 of machinery being depreciated over 5 years. The estimated residual value...

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Accounting

Pedro Company has $65,000 of machinery being depreciated over 5 years. The estimated residual value is $14,000. After taking 2 years depreciation, Pedro realizes the equipment is clearly going to last another 4 years and the estimated residual value remains unchanged.

Required 1: What depreciation expense will Pedro record in year 2 when using the straight line method?$

Required 2: What depreciation expense will Pedro record in year 3 when using the straight line method? $

Required 3: What depreciation expense will Pedro record in year 2 when using the declining balance method? $

Required 4: What depreciation expense will Pedro record in year 3 when using the declining balance method? $

Required 5: What depreciation expense will Pedro record in year 2 when using the double declining balance method? $

Required 6: What depreciation expense will Pedro record in year 3 when using the double declining balance method? $

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