Equipment with an estimated life of 10 years and no expected residual value was purchased on account

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Equipment with an estimated life of 10 years and no expected residual value was purchased on account for $60,000 on March 6, 2020. Assuming a year-end of December 31, calculate depreciation for 2020 and 2021 using the straight-line method:

a. To the nearest whole month

b. Using the half-year convention

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Fundamental Accounting Principles Volume I

ISBN: 978-1260305821

16th Canadian edition

Authors: Kermit Larson, Tilly Jensen, Heidi Dieckmann

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