Question - Lockard Company purchased machinery on January 1, 2012, for $151,840. The machinery is estimated to have a salvage value of $15,184 after a useful life of 8 years.
(a) Compute 2012 depreciation expense using the straight-line method.
(b) Compute 2012 depreciation expense using the straight-line method assuming the machinery was purchased on September 1, 2012.