ACC 304 help A Guide to career/Snaptutorial ACC 304 help A Guide to career/Snaptutorial | Page 82

ACC 304 Week 4 Chapter 11 Homework
1) Lockard Company purchased machinery on January 1, 2014,
for $102,960. The machinery is estimated to have a salvage value of
$10,296 after a useful life of 8 years.
2) Compute 2014 depreciation expense using the double-declining-
balance method.
3) Compute 2014 depreciation expense using the double-declining-
balance method, assuming the machinery was purchased on October
1, 2014.
4) Everly Corporation acquires a coal mine at a cost of $452,000.
Intangible development costs total $113,000. After extraction has
occurred, Everly must restore the property (estimated fair value of the