Acc422 Intermediate Accounting: BE11-2 Lockhard Company purchased

Note: There are other versions of this same problem/exercise so please make sure you have compared your homework to the question I posted in the website as well as with this tutorial to make sure they are the same.

Acc422 Intermediate Accounting

BE11-2
Lockhard Company purchased machinery on January 1, 2010, for $80,000. The machinery is estimated to have a salvage value of $8,000 after a useful life of 8 years.

a. Compute 2010 depreciation expense using the straight-line method.
b. Compute 2010 depreciation expense using the straight-line method assuming the machinery was purchased on September 1, 2010.
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