ACCT $3008-$ Week $6-$ Assignment

QUESTION C: DETERMINE STRAIGHT LINE DEPRECIATION

Gotham Company purchased a new machine on October $1,2022,$ at a cost of $$90,000.$ The company estimated that the machine has a salvage value of $$8,000.$ The machine is expected to be used for $70,000$ working hours during its $8-$year life.

Required

Compute the depreciation expense under the straight$-$line method for $2022$ and $2023,$ assuming a December $31$ year$-$end.

For $2022($October to December$)$

For $2023($full year$)$