1.Computation: Cost Less: Salvage Value Depreciable cost Divided by: Estimated Useful Life Annual Depreciation Annual Depreciation/1 year No. of month 12 DATE ACCOUNT TITLE and EXPAINATION DR CR 2.Computation: Cost Less: Salvage Value Depreciable cost Divided by: Estimated Useful Life Annual Depreciation Annual Depreciation 1 year No. of months X 12 CR DR DATE ACCOUNT TITLE and EXPAINATION 3.Computation: Cost Less: Salvage Value Depreciable cost Divided by: Estimated Useful Life Annual Depreciation Annual Depreciation/1 year No. of months 12 CR DR DATE ACCOUNT TITLE and EXPAINATION REDMI NOTE 8 AI QUAD CAMERA Computation: II. e. DEPRECIATION EXPENSE Given the following cases, prepare the adjusting journal entries on December 31, 2016. Presented below are the non- current assets of Snoopy Company. ACQUISITION PROPERTY DATE COST (P) ESTIMATED LIFE SALVAGE VALUE (P) Oct 31, 2016 building 35,000,000 1,500,000 20 years June 15, 2016 Furniture 75,000 3,000 12 years Sept. 1, 2016 Machinery 130 000 8,000 10 years Give the adjusting Journal entries to record the depreciation expense for each property on December 31, 2016. Show your computation for each property in good form. Formula: Cost Less: Salvage Value Depreciable cost Divided by: Estimated Useful Life Annual Depreciation OO REDMI NOTE 8 O AI QUAD CAMERA