Adjustment Data for Sullivan Realty

a$)$ As of June $30,$ one month of prepaid rent had expired. The prepaid rent payment made in June was for

June through August.

b$)$ A count of inventory on June $30$ show $$90$ of office supplies remaining.

c$)$ Use the following formula to calculate depreciation for the office equipment. But then record only one

MONTH $($June$)$ of depreciation $($because the asset has only been used for one month$).$ The cost of the

asset was given to you earlier in this project.

Note: after consulting with the company's CPA, she tells you the office equipment is expected to last $5$

years.

d$)$ Use the above formula to calculate depreciation for the vehicle. But then record only one MONTH $($June$)$

of depreciation $($because the asset has only been used for one month$).$

Reminder, the invoice for the vehicle stated this:

Note from CPA: Expected life of vehicle is $6$ years