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Compute depreciation expense under the straight-line method

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Question - "Plant Assets" Please respond to the following:

Determine straight line depreciation for partial period 

Vinxet Company purchased a new machine on October 1, 2017, 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.

Notice that Vinxet uses December 31 as its year end, and this purchase is made in October.

Instructions - Compute the depreciation expense under the straight-line method for 2017 and 2018, assuming a  December 31 year-end. 

Explain the consequences of recording a capital expenditure as an ordinary expense. Use numbers to illustrate your understanding.

Reference no: EM131725230

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