5).

On May 1 Miami God Exchange peid cash of 585,400 for computers that are expected to remain useful for six years. At the end of six years, the value of the computers & sipected to be zero. Head the requirements. Requirement 1. Calculate the arrount of depreciation for the month of May using the straight-ine depreciation method. Begin by selecting the labels, an enter the amounts and compute the amount of depreciation for the month of May. (Abbreviation used. Acc. Depreciation - Accumulated Depreciation. Enter "9" for any zero balans 1+ 12 months = Straigh-line depreciation i + 12 months - Requirement 2. Report the adjusting entry for depreciation on May 21. Record debits first, then credits. Select the explanation on the last Ine of the journal entry table. Date Accounts and Explanation Debit Credit May 31 Requirement 3. Poct the purchase of May 1 and the depreciation on May 21 to Taccounts for the following accounts: Computer Ecuipment, Accumulated Depreciatian-Computer Equipment, and Depreciation Expense Computer Equipment. Show their balances at May 31. (Use dates as posting references to post the transactions. Use a Bal" pooling retorence to show the ending balance of each account.) Computer Equipment Accumulated Depreciation Computer Equipment 0 Requirements Depreciation Expense-Computer Equipment 1. Calculate the amount of careciation for the month of May using the atrach-lna depreciation mattod. 2. Record the adjusting entry for depreciation on May 31. 3. Poat the Duchess of May 1 and the depreciation on May 91 to T-accounts for Dewuler Eulieren und Dupruelason Expenses Computer Computer Equipment, Mocuired Equipment. Show their balances at May 31. 4. We cornputer equipment toox velue at May 31? Requirement 4. Calculate the computer equipment's bank value at May 31. Hook value of plant assets: Print Donc Lees L