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Compute 2010 depreciation expense using the straight-line

1. Lockard 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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Accounting Basics: Compute 2010 depreciation expense using the straight-line

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Accounting Basics: Compute 2010 depreciation expense using the straight-line

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