Lockard Company purchased machinery on January 1, 2014, for $184,640. The machinery is estimated to have a salvage value of $18,464 after a useful life of 8 years. a) Compute 2014 depreciation expense using the sum-of-the-years’-digits method. b) Compute 2014 depreciation expense using the sum-of-the-years’-digits method assuming the machinery was purchased on April 1,2014 c) Compute 2014 depreciation expense using the double-declining-balance method d) Compute 2014 depreciation expense using the double-declining-balance method assuming the machinery was purchased on October 1,2014.
