Question - Lockard Company purchased machinery on January 1, 2014, for $122,960. The machinery is estimated to have a salvage value of $12,296 after a useful life of 8 years.
Compute 2014 depreciation expense using the double-declining-balance method.
Compute 2014 depreciation expense using the double-declining-balance method, assuming the machinery was purchased on October 1, 2014.