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Class+Exercise+from+3-4-09+_1_ - ACCT 2101 CLASS EXERCISE...

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Unformatted text preview: ACCT 2101 CLASS EXERCISE DATE Topic: Part—Year Depreciation Name Section Lazar Company purchased a new machine April 1, 2006, at a cost of $96,000. The company estimated that the machine has a salvage value of $6,000. The machine is expected to be used for 70,000 working hours during its 5—year life. On August 31, 2008, Lazar sells this machine. REQUIRED: (1) Compute the depreciation expense under the straight-line method for years 2006, 2007, and 2008, assuming a December 31 year-end. (2) What is the (net) book value of this machine immediately before it is sold on August 31, 2008? ...
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